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O izdanju:
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CONTENTS
introductory epistle
p.5 The Real in the Estate
fortnightly news
p.6 The Economy
p.7 Of General Interest
fortnightly feature
p.8 Gerrymandering???!!!?!
highlights
p.10 INA Continues to Make Headlines - Trading of Shares Resumed, but Was Suspended Again
p.11 Former Deputy Minister of Tourism Detained on Suspicion of Real Estate Wrongdoings
legal & regulatory
p.12 Speeding up Croatian Courts, Speeding on Toward eu Membership?
real estate
p.14 Colliers International 2011 Croatia Real Estate Review
compliance
p.20 Local Corporate Compliance – The Key to Successful Real Estate Investments
editorial
p.22 The Psychology of Property
real estate
p.24 Seventh International Conference on the Real Estate Market in Croatia
culture
p.26 Dalmatia through Foreign Eyes – The Perfect Gift for the Perfect Summer
human interest
p.28 An Afternoon in Volosko
to do list
p.30 Boats & Tunes
introductory epistle
The Real in the Estate
It will almost immediately become apparent that this issue of CR is in large part dedicated to all things related to real estate. Yes, there is an attempt at gerrymandering taking place and, as usual, there is no shortage of corruption scandals and corporate meanderings, but the Filipovic Advisory’s Seventh Annual International Conference on the Real Estate Market in Croatia (April 14th and 15th at Zagreb’s Regent Esplanade) provided the pretext (and the context) for a more in-depth look at THE industry all of us cannot help but talk about so much. We thank Colliers, TMF and King Sturge for providing the data, perspective and insight only professionals can.“Real estate,” that buzzword of note, gets used far too often in Croatia. What we mean to say is that few pause to consider the etymology of the term – and its implications. In law, the word real means “of or relating to a thing” (res/rei, thing, from Old French reel, from Legal Latin realis “actual,” from Latin. res, “matter, thing”). The law hence differentiates between two categories of property: that which is “real” (land and anything affi xed to it – all immovable) and property that is “personal” (transportable chattel – to which a person retains permanent title). Real estate, then, is by (legal) defi nition somehow different than other types of property.
The oldest use of the term “Real Estate” that has been preserved in historical records was in 1666, which, incidentally or not, was the year of the great Dubrovnik earthquake (look up our review of the book Dalmatia Through Foreign Eyes just to make sure it wasn’t in 1667), and also of the most devastating fi re London ever witnessed, the fi re which destroyed most of the Elizabethan architecture of the city. (1666 was also the year of the great witch hunts and burnings at the stake, which at least partially does make us believe that there’s certainly something in the numbers!)
Much like the present situation in Japan, all this might well teach us that there is no such thing as real property, or shall I say permanent real property, but I shall not pursue this line of reasoning any further. For this country is in dire need of any forces that might drive its economy ahead, and the real estate sector, partly, also because Croatia truly is a tourist country, will always fi gure as a major factor in this country’s overall economic success. We’re already getting some sun, now it’s time for us to start getting some investments. Most of us will end up leaving some kind of estate behind us, and we can only hope it will be “real” in real terms. There is an old proverb, usually attributed to Russians residing in the frigid climes of Siberia, that every man’s threefold duty in life is, in no particular order, to build a house, father a child and write a book. Quite paternalistic, perhaps, but one should be very careful when dismissing old formulae for success. Not paying attention – or rather disregarding – lessons from the past is exactly what has got us here. But we are where we are and the eternal optimist in me says that we can only move forward.
Igor Dakić
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O časopisu:
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Croatia: a Fortnight in Review (CR) is the first publication of its kind in Croatia: a twice monthly national English language newspaper for all those seeking high-level analysis of contemporary business, legal, political and cultural affairs and events in Croatia. The editorial office is well-rounded and, of course, international, and draws on the extensive experience of a composite of full-time professionals and outsourced experts.
News in all its insightful and banal forms is everywhere nowadays, but no newspaper should be solely about the news; the task of every self-respecting broadsheet is to provide and create meaningful context. This, simply, is our mission.
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