Islands For Sale

As tourism picks up in Croatia, old Adriatic stone houses, villas...and islands are up for sale.
September 13, 2003, 9am PDT | Connie Chung
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"Croatia's tourist industry is recovering after a decade of slump caused by the 1991-1995 war that followed independence from communist Yugoslavia. According to data provided by the Foreign Ministry, where non-Croatians must titles to property, around 1,000 houses or building sites were sold to foreigners in the last two years. At least as many were sold to Croatians acting on their behalf. With tourism back in full swing, under the slogan of 'The Mediterranean as it once was,' German and British newspapers and television channels are advertising Croatia's beauty, political stability and available real estate." In anticipation for growing demand in Croatian real estate, one broker said,"'There is no serious urban planning, no clear laws on what can be built where. That is not conducive to serious investment and the government has to change it.'"

Thanks to Connie Chung

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Published on Thursday, October 13, 2005 in Yahoo! Newswire

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