Very Little Interest in Purchase of Croatian State Property

Lauren Simmonds

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As Novac writes on the 24th of August, 2019, the Croatian Ministry of State Property has closed a tender for the purchase of eight properties owned by the Republic of Croatia in the territory of Osijek. Only two were sold, and no bids were received for the remaining six at all.

As expected, the greatest interest was expressed for the apartment in Bisevska 17, measuring 33.11 square metres with an associated 3.5 square metre log cabin, in an energy-renovated building, whose starting price was only 78,000 kuna.

Three bids came in for the purchase of that particular apartment, and in the end it was sold to Bagatel, for only 81,235 kuna. In addition to the new owner’s new property, he got a flat in the city centre, on Strossmayer’s Street 4, for which two bids were submitted, and which was sold for only one kuna more than the starting price – for exactly 108,001 kuna. Regardless of its excellent location, it is a dirty backyard apartment on the ground floor of a building that requires a lot of investment to become conditional at all, writes Glas Slavonije.

Five apartments remain owned by the Croatian state from this tender, and in turn, they’re all at somewhat attractive addresses: Ružina 48, Pejačevićeva 29, Divaltova 112, European avenue (Europska avenija) 3 and Reisner 86. While cheap, at first glance they do not give the impression of being a desirable space, neither for life nor for possible investments.

It should be noted that eight formerly stated owned properties were sold in Zagreb as part of a tender seeking the buyers of 25 properties across the country by the Croatian Ministry of State Property. Thus, eight pieces of real estate were sold, three in Velika Gorica and Rijeka, and one in Novi Vinodolski, Zaprešić and Lepoglava, and with much better success.

For example, four apartments were sold in Zagreb and all three were offered in Velika Gorica. Which is not strange. Namely, with the exception of one apartment in Zagreb, which can be classified in the same category as those unsold in Osijek, the others offered for sale are by far a higher category.

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