Croatian government wasn't allowed to enter the property market

March 17, 2014

Croatian government wasn't allowed to enter the property market

Croatian authorities have not been able to negotiate with banks to get unsold apartments. Financiers have set higher prices, writes ee24.com citing danas.net.hr. 

The Ministry of Construction and Physical Planning was hoping to take control of unsold apartments in Croatia to rent out, and eventually to sell them at lower prices. However, banks' executives have decided not to give up their assets. 

Apparently, the banks have decided to wait until prices of real estate in Croatia stabilize and go up. At the same time, the Croatian authorities are open to dialogue and still hope to launch their social projects.