Croatia 'shows strong property growth'
Croatia has seen strong property price growth during the last year, according to research by real estate firm Knight Frank.
The Croat property market enjoyed an annual growth rate of 11.6% at the close of the fourth quarter of 2007, Fin Facts reports.
Although this is slightly lower than the 12.1% recorded for quarter three, it is a dramatic improvement on the sub-6% growth rate witnessed in the final months of 2005.
Liam Bailey, head of residential research at Knight Frank, pointed out that Croatia's success comes at a time when property prices in Europe and America "appear to be suffering from the downturn in economic conditions".
Knight Frank's figures show that global house price inflation at the end of 2007 stood at 8.2%, down on the previous year's figure of 9.7%.
The Association of International Property Professionals has said that European property market is proving to be more attractive to investors than holiday home buyers.
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