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Retirement And Investment In Istria, Croatia

Kathleen Peddicord by Kathleen Peddicord
May 31, 2013
in Retirement/Living
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Pula is the greatest city inside Istria, one of the best cities Europe has to offer. | Retirement And Investment In Istria Croatia
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Neckties, White Wine, And A Remarkably Long Coastline–Why Croatia Is One Of The World’s Top Havens

Neckties and wine. Croatia may be better known for its long coast along the sparkling green Adriatic and its tumultuous, 1,000-year-long history, but, when I think of Croatia, I think of neckties and wine. This gorgeous, complicated country is the birthplace of both the necktie and the Zinfandel grape, and these two facts reveal a lot about Croatia. First, it has great weather. The Zinfandel grape requires a climate not too hot and not too cold. Croatia’s mild winters and sunny summers make for perfect Zinfandel grape-growing.

Second, Croats are the trendsetters credited with introducing today’s tie to the fashion world. The Croat contingency of the French service wore their traditional knotted handkerchiefs during the Thirty Year’s War (1618 to 1648). The Parisians took a fancy to them and called them “cravat“–a cross between the Croatian and French words for Croat (Hrvati and Croates). So began a cravat fashion frenzy. In the 17th century, these kerchiefs became so intricate that they were tied in place by strings and arranged in a bow that took forever to arrange.

Croatia is tucked into southeastern Europe, bordering the Adriatic Sea, between Bosnia, Herzegovina, and Slovenia. It’s near the coast, Vienna, Venice, Budapest, skiing in Austria, and golf in Slovenia. It’s been more than 20 years since the Socialist Federal Republic of Yugoslavia was dissolved. Its six republics–Croatia, Bosnia and Herzegovina, Macedonia, Montenegro, Serbia, and Slovenia–are all very much their own countries today. Croatia is wearing its new skin comfortably, as it should. The Kingdom of Croatia was, in fact, its own entity starting in 925AD. It joined Hungary in 1102 but maintained a Croat culture with hopes for independence. Although it was titled a free royal town in 1242, it took about 800 years before Croatia was independent again, this time from Austria-Hungary in 1918. That freedom, too, was short-lived, however. Croatia became a member of Yugoslavia after World War II and didn’t stand on its own again until 1992.

A Croatian friend told me a story about his family once. “My father lived to be more than 100 years old,” Lovorko explained. “He lived his whole life in Croatia, here in Istria. Not only in the same town where he’d been born but in the same house. And, in his lifetime, he lived in nine different countries.”

You have two strong lifestyle options in Croatia, the coast and the Istrian peninsula. The Adriatic waters offshore from Croatia are a sailor’s paradise. Inland, in Istria, is a wonderland of another kind, with vineyards and olive groves. If you’ve any romance in your soul, I defy you not to fall in love with this country. The ancient Romans called it Terra Magica, the Magic Land. Perhaps the best part is that, unlike Tuscany, the region of Italy Istria is most often compared with (with good reason, as the geography and the history of these two regions have much in common), the average person can afford Istria, where you can buy a small, renovated cottage with lookouts over a valley and vineyards, perfect for regular visits, for rental, and for retirement, for as little as US$100,000.

Retiring to Croatia, you’d be in good company. Diocletian, the only Roman emperor to abdicate his position (that is, to retire) was also the first person to retire overseas. Diocletian built a palace on the Dalmatian coast (his birthplace was Dalmatia), the location of current-day Split, and it is here, with the glorious Adriatic Sea spread out before him, that he chose to live out his days.

Kathleen Peddicord

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Kathleen Peddicord

Kathleen Peddicord

Kathleen Peddicord has covered the live, retire, and do business overseas beat for more than 30 years and is considered the world's foremost authority on these subjects. She has traveled to more than 75 countries, invested in real estate in 21, established businesses in 7, renovated historic properties in 6, and educated her children in 4.

Kathleen has moved children, staff, enterprises, household goods, and pets across three continents, from the East Coast of the United States to Waterford, Ireland... then to Paris, France... next to Panama City, where she has based her Live and Invest Overseas business. Most recently, Kathleen and her husband Lief Simon are dividing their time between Panama and Paris.

Kathleen was a partner with Agora Publishing’s International Living group for 23 years. In that capacity, she opened her first office overseas, in Waterford, Ireland, where she managed a staff of up to 30 employees for more than 10 years. Kathleen also opened, staffed, and operated International Living publishing and real estate marketing offices in Panama City, Panama; Granada, Nicaragua; Roatan, Honduras; San Miguel de Allende, Mexico; Quito, Ecuador; and Paris, France.

Kathleen moved on from her role with Agora in 2007 and launched her Live and Invest Overseas group in 2008. In the years since, she has built Live and Invest Overseas into a successful, recognized, and respected multi-million-dollar business that employs a staff of 35 in Panama City and dozens of writers and other resources around the world.

Kathleen has been quoted by The New York Times, Money magazine, MSNBC, Yahoo Finance, the AARP, and beyond. She has appeared often on radio and television (including Bloomberg and CNBC) and speaks regularly on topics to do with living, retiring, investing, and doing business around the world.

In addition to her own daily e-letter, the Overseas Opportunity Letter, with a circulation of more than 300,000 readers, Kathleen writes regularly for U.S. News & World Report and Forbes.

Her newest book, "How to Retire Overseas: Everything You Need to Know to Live Well (for Less) Abroad," published by Penguin Random House, is the culmination of decades of personal experience living and investing around the world.

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