Market pulse

22 December 2016.

Croatia RICS Retail Property Report: Occupant and investment sentiment positive for Q3 2016

The outlook for the Croatian retail market remains positive and it is expected to be sustained by positive trends in the country’s overall economy.

According to the latest RICS Commercial Property Monitor for the Croatian market, occupier and investment sentiment continues with good results.

Occupier market

– The Q3 2016 Croatia Commercial Property Monitor shows a further increase in occupier demand over the quarter.
– Availability remained unchanged in the retail segment, meanwhile, the value of landlord incentive packages saw little change.
– Rents are expected rise modestly in the retail sectors over the coming twelve months.
– The Occupier Sentiment Index for retail markets posted a result of +20.

Investment Market

– During Q3, investor demand increased sharply in the retail sector. This trend was also apparent in the indicator that captures foreign investment inquiries.
– The supply of property for investment continued to rise modestly, as it has  in each of the past three quarters.
– Capital value projections have now turned slightly negative at the headline level and expectations are flat across the prime retail area. Meanwhile, values are anticipated  to decline across the board in secondary locations.
– Despite this, the majority of respondents (70%) feel the market is in the early stages of an upturn, although the remaining  sense that conditions are consistent with the bottom of a cycle.
– The Investment Sentiment Index remained in positive territory at +6 for the third quarter of 2016.

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