The visa regime between Croatia, that joined the EU, and Russia had a negative impact not only on the tourism market of the country, but also on the real estate market. Realtors in Istria noted that, compared to last year, Russians are showing much less interest in real estate on this Croatian peninsula. Also, a rather complicated procedure for foreigners buying property in Croatia had a negative influence.
Russians are obliged to open their own company in the country in order to buy a property in Croatia, says Mustafa Polyarevich, the owner of Genting agency. This leads to the fact that one of the most active foreign buyers lose the opportunity to invest in the Croatian economy. This applies not only to the Russians, but also to citizens of countries outside the EU.
The lack of year-round presence on the territory of the country is also bad for Croatian market. In Croatia, unlike Bulgaria, Spain or Montenegro, foreigners are not allowed to stay in the country for a whole year, even in the presence of real estate. As a result, Croatia suffers losses, according to representatives of local real estate agencies.