Now Available: "Croatia Real Estate Report Q2 2011"

March 22, 2011 - PRLog -- The best that can be said for the overall position of Croatia's commercial real estate market is that it has now stabilised.

The Croatian economy is only now coming out of recession and is therefore tracking well behind most of its Central and East European neighbours. Real GDP growth was negative again in 2010 at -1.5% and unemployment remains high at 18%. The single brighter area is export growth and it is the export sector that is expected to pull the economy back into positive growth (1.7%) during 2011. Figures for the first half of 2010 illustrate the point well. Exports grew by 3.6% and 7.0% y-o-y in Q1 and Q2 respectively while imports fell by 4.8% and 4.2% at the same time.

Logically, the demand for office space and retail space is barely growing. Industrial space on the other hand has ticked up. We saw falls of 20-30% in rental prices for office space between the first half of 2009 and the second half of 2010. Retail rents fell by 30-40%. Industrial properties bucked the trend with rents recovering 20-30% in the same period.

We see rents and yields remaining essentially flat through 2011 and 2012. Broadly, we think that rates are somewhat vulnerable in the Zagreb area, will remain unchanged on low activity in the Zadar area, but have upside potential in the area around Split where some new commercial properties are to be developed by foreign investors.

It is difficult to envisage any pronounced recovery within the forecast period. The economic recovery will be slow and export oriented. GDP growth will struggle to break 3% and even at the end of the forecast period unemployment is forecast to remain at 10%. With its economy on the slow path there is no reason to expect a boom, or a disaster, for Croatia's commercial real estate sector.

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Report Table of Contents:

SWOT Analysis
- Croatia Real Estate/Construction SWOT
- Croatia Economic SWOT
- Croatia Business Environment SWOT
Real Estate Market Overview
- Table: Croatia's Real Estate Markets - Historic Rents, 2009 And 2010 (m2/month, EUR)
- Table: Croatia's Real Estate Markets - Net Yield, 2010 And 2011 (%)
- Table: Croatia's Real Estate Markets - Terms Of Rental Contract/Lease, Mid-2010
- Table: Croatia's Real Estate Markets - Available And Vacant Space, Mid-2010 (m2)
Forecast Scenario
- Real Estate Outlook
- Table: Croatia's Real Estate Markets - Rentals, 2010-2012 (m2/month, EUR)
- Table: Croatia's Real Estate Markets - Forecast Yield, 2008-2015 (%)
- Construction And Infrastructure Industry Overview
- Table: Croatia - Construction And Infrastructure Industry Data, 2009-2020
- Croatia's Macroeconomic Outlook
- Table: Croatia - Economic Activity
Business Environment
- Real Estate/Construction Business Environment Rating
- Table: Europe Real Estate/Construction Business Environment Rating
- Croatia's RECBER
- Eastern Europe Infrastructure Project Finance Ratings
- Table: Design And Construction Rating
- Table: Commissioning And Operating Rating
- Table: Overall Project Finance Rating
- Croatia's Business Environment
- Table: BMI Business And Operation Risk Ratings
- Table: BMI Legal Framework Rating
- Table: Labour Force Quality
- Table: Emerging Europe - Annual FDI Inflows
- Table: Trade And Investment Ratings
Company Monitor
- GTC Real Estate
- Konstruktor inzenjering
- Landmark Property Management
- Orco Property Group
- TriGranit Development Corporation
BMI Methodology
- How We Generate Our Industry Forecasts
- Construction Industry
- Bank Lending
- Real Estate/Construction Business Environment Rating
- Table: Weighting Of Indicators
- Project Finance Ratings Indicators
- Table: Design And Construction Phase
- Table: Commissioning And Operating Phase - Commercial Construction
- Table: Commissioning And Operating Phase - Energy And Utilities
- Table: Commissioning And Operating Phase - Transport
- Sources

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.