Croatia Real Estate Report 2016

Publisher Name :
Date: 28-Sep-2016
No. of pages: 55

BMI View: An overwhelming vote of no confidence in the Croatian Prime Minister, Tihomir Oreskovic, has

sent ripples through the Croatian parliament - delaying much-needed structural reforms and affecting

investor sentiment. Additionally, continued growth in public debt, high levels of unemployment and

headwinds from the volatile EU market post-Brexit will add further strain to the economy. We therefore

anticipate low levels of demand to continue across the commercial real estate sector, as investors remain

vigilant to the economic situation - which we believe will see rentals stagnate or see marginal declines.

Structural problems are plaguing the Croatian economy, alongside fiscal vulnerabilities such as growing

public debt and rising interest payments that look to impede the Balkan nation's economic recovery. As a

result, foreign direct investment flows are down significantly from levels seen prior to the financial crisis in

2008, slow corporate sector restructuring is further dragging on private sector growth, and high

unemployment, coupled with inactivity, is seeing poverty rise across the state - subsequently dwindling

consumer demand and restricting greater growth in spending that is needed to boost economic growth.

Owing to internal issues and external headwinds, the Croatian economy is considered less appealing than its

regional peers in the Central and Eastern European region - which has seen investors look to these nations

in order to mitigate the risk posed by investing in Croatian assets. This has effectively shackled the

commercial real estate market; with already established and domestic companies undergoing the majority of

activity. As a result, industry players predict that rentals for all three sub-sectors we cover in our forecast

will be subject to stagnation, and in some cases marginal decreases in rates.

Croatia Real Estate Report 2016

Table of Contents

BMI Industry View 7
Political 12
Economic 13
Operational Risk 14
Industry Forecast 16
Office Forecast 16
Table: Office Rental Rates 19
Table: Office Yields 20
Retail Forecast 22
Table: Retail Rental Rates 25
Table: Retail Yields 26
Industrial Forecast 28
Table: Industrial Rental Rates 29
Table: Industrial Yields 30
Residential And Non-Residential Construction 31
Latest Updates 31
Table: Residential And Non-Residential Building Industry Data (Croatia 2015-2025) 32
Structural Trends 32
Table: Construction And Social Infrastructure Key Projects 35
Macroeconomic Forecast 36
Economic Analysis 36
Industry Risk/Reward Index 40
Table: Croatia Real Estate Risk Reward Index 40
Rewards 40
Risks 41
Market Overview 42
Competitive Landscape 44
Demographic Forecast 46
Table: Population Headline Indicators (Croatia 1990-2025) 47
Table: Key Population Ratios (Croatia 1990-2025) 47
Table: Urban/Rural Population & Life Expectancy (Croatia 1990-2025) 48
Table: Population By Age Group (Croatia 1990-2025) 48
Table: Population By Age Group % (Croatia 1990-2025) 49
Methodology 51
Industry Forecast Methodology 51
Sources 52
Risk/Reward Index Methodology 53
Table: Real Estate Risk/Reward Index Indicators 54
Table: Weighting Of Indicators 55

List of Tables

Table: Office Rental Rates
Table: Office Yields
Table: Retail Rental Rates
Table: Retail Yields
Table: Industrial Rental Rates
Table: Industrial Yields
Table: Residential And Non-Residential Building Industry Data (Croatia 2015-2025)
Table: Construction And Social Infrastructure Key Projects
Table: Croatia Real Estate Risk Reward Index
Table: Population Headline Indicators (Croatia 1990-2025)
Table: Key Population Ratios (Croatia 1990-2025)
Table: Urban/Rural Population & Life Expectancy (Croatia 1990-2025)
Table: Population By Age Group (Croatia 1990-2025)
Table: Population By Age Group % (Croatia 1990-2025)
Table: Real Estate Risk/Reward Index Indicators
Table: Weighting Of Indicators
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