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New Market Research Report: Croatia Real Estate Report Q1 2014


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2014-01-03 18:46:59 - New Business market report from Business Monitor International: "Croatia Real Estate Report Q1 2014"

2014 see Croatia's economy expand for the first time in five years while the country will also begin its first full year as an EU member state. The Croatia real estate report examines the effect which these developments will have on the commercial office, retail, industrial and construction sectors and considers the impact of a gloomy outlook for the economy.

On July 1 2013, Croatia became the EU's 28th member state. Not only will this have a positive impact upon stability in the region, ascension to the EU is also set to unlock billions of euros for investment in better connecting the bloc's newest member to the single market. Deputy Prime Minister Vesna Pusic has stated that Croatia will be the

recipient of EUR10bn (US$13bn) up to 2020 to be spent on infrastructure and construction projects. In turn, this should start to re-invigorate the static real estate and construction pipeline that Croatia - as a reflection of the wider Central and Eastern Europe (CEE) as a region - has seen over recent years, although this process will be slow.

Full Report Details at
- www.fastmr.com/prod/759083_croatia_real_estate_report_q1_2014.as ..

In spite of this relative optimism, the short-term outlook for commercial real estate looks moderate with rental rates expected to continue to underperform as they did for much of 2012-2013. EU membership aside, the real estate sector will find itself shackled by the same global problems which have hampered growth over the past two years: weak growth in China and the eurozone, an ongoing euro debt crisis and geo-political risk.

We expect rental rates to remain largely stagnant across office, retail and industrial real estate during Q114, though the retail segment appears best place to record growth over the year as a whole, driven by a strong tourism sector and improving consumer confidence. Nevertheless, all three segments will continue to have to contend with increases in supply which, when coupled with weak demand, will prevent significant increases in rental rates. The Croatia real estate report examines the commercial office, retail, industrial and construction sectors and considers the impact of a dour outlook for the economy. With a focus on the three principal cities of Split, Zagreb and Zadar, the report covers the rental market's performance in terms of both rates and yields and supply and demand activity.

Recent Developments

* Croatia's accession to the EU in July 2013 has so far failed to translate into increased optimism surrounding the country's real estate sector as a whole. According to 65% of local property firms surveyed by the Croatian Times, EU entry will have no immediate effect on the country's real estate prices.
* One area expected to benefit more than most is the tourism sector with international investors casting increasing glances towards the country's hotel and hospitality industry. In November 2013, Zagreb-based company Beta Ulaganja, which is reportedly owned by Russian investors, acquired a majority stake in Mali Losinj hotel and hospitality firm Jadranka Group
* H113 saw a notable contraction in rental rates in the capital city, Zagreb, in both the office and industrial real estate sectors. Split was the best performing city in h113 in terms of rental rate growth, which is likely to have been due to the positive effects of tourism.

Key BMI Forecasts

* We forecast Croatia's economy to expand by 0.6% in 2014 after five consecutive years of no growth.
* The export sector will continue to underperform with exports forecast to remain flat in value terms at EUR9.6b
* Our infrastructure team expects construction growth to expand by 3.6% in 2014, from estimated growth of 1.6% in 2013

Report Table of Contents:

BMI Industry View
SWOT
- Political
- Economic
- Business Environment
Industry Forecast
- Office
- Table: Forecast Rents - (US$ per m2/month)
- Table: Forecast Net Yield, 2010-2017 (%)
- Retail
- Table: Forecast Rents - (US$ per m2/month)
- Table: Forecast Net Yield, 2010-2017 (%)
- Industrial
- Table: Forecast Rents - (US$ per m2/month)
- Table: Forecast Net Yield, 2010-2017 (%)
- Construction and Infrastructure Forecast Scenario
- Table: Croatia Construction And Infrastructure Industry Data, 2010-2016
- Table: Croatia Construction And Infrastructure Industry Data, 2015-2021
Macroeconomic Forecast
- Table: Croatia - Economic Activity
Industry Risk Reward Ratings
- Europe Risk/Reward Ratings
- Table: Real Estate Risk/Reward Ratings
- Croatia Risk Reward Ratings
- Rewards
- Risks
Market Overview
- Office
- Table: Historic Rents - 2012-2013 (US$ per m2/month)
- Table: Net Yield, 2012-2014 (%)
- Table: Terms Of Rental Contract/Leases - H213
- Retail
- Table: Historic Rents - 2012-2013 (US$ per m2/month)
- Table: Net Yield, 2011-2012 (%)
- Table: Terms of Rental Contract/Leases - H213
- Retail Sales Indicators
- Table: Retail Sales Indicators, 2010-2017
- Industrial
- Table: Historic Rents - 2012-2013 (US$ per m2/month)
- Table: Net Yield, 2011-2012 (%)
- Table: Terms Of Rental Contract/Leases - H213
Competitive Landscape
Company Profile
- GTC Real Estate
- Konstruktor-inzenjering
- Landmark Property Management
- Orco Property Group
- TriGranit Development Company
Demographic Forecast
- Demographic Outlook
- Table: Croatia's Population By Age Group, 1990-2020 ('000)
- Table: Croatia's Population By Age Group, 1990-2020 (% of total)
- Table: Croatia's Key Population Ratios, 1990-2020
- Table: Croatia's Rural And Urban Population, 1990-2020
Methodology
- Industry Forecast Methodology
- Sources
- Risk/Reward Ratings Methodology
- Table: Real Estate Risk/Reward Rating Indicators
- Table: Weighting Of Indicators

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at www.fastmr.com/catalog/publishers.aspx?pubid=1010

About Fast Market Research

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.

For more information about these or related research reports, please visit our website at www.fastmr.com or call us at 1.800.844.8156.


Author:
Bill Thompson
e-mail
Web: www.fastmr.com
Phone: 18008448156

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