Croatia’s EU accession in July will have limited positive effects on the country’s real estate sector, according to a survey by Jones Lang LaSalle.
Tomislav Greguric, JLL’s national director, Croatia, said: “While we are optimistic that it will have a positive influence on the real estate market, the difficult economic conditions will limit the effects that were seen by previous EU entrants.
“However, we do see opportunities in the short to medium term in the underdeveloped industrial and logistics market and we expect an increase in the number of property investment transactions.”
JLL said all those surveyed reported increased activity in their markets, but it should be noted that when other countries, such as Bulgaria and Romania, were entering the EU, there was significantly more capital flow available and businesses were looking to expand.
“We do not envisage significant demand for new office space in Zagreb because, at present, we are reporting an oversupply of office space,” Greguric added.
