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Croatia urged to speed up reforms
Investment in Croatian property should become increasingly easy once its membership of the European Union is granted.
Though already a popular holiday destination and a rapidly emerging market for British investors, the European Parliament (EP) has urged to Croatia to ensure that it meets all the necessary criteria for EU membership.
The EP report, from its committee of foreign affairs, praised the Balkan state for its "steadily increasing economic growth", but reiterated the importance of an "open, competitive market economy".
The report continues: "Provided that Croatia addresses the outstanding challenges and develops adequate administrative capacity, negotiations should continue at a sustained pace and should lead, as soon as all the criteria have been met and the negotiations are completed, to a timely accession of Croatia to the European Union."
Though property investment has been eased through the implementation of a mortgage facility for non-residents, EU membership would promote further development of an open market.
The Latvian government recently admitted that despite the impressive growth of its economy, high inflation rates meant it was not ready for EU membership and would have to wait until around 2011 to take advantage of the benefits of entry into the Eurozone.
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