Raiffeisenbank Austria d.d. (RBA) in collaboration with some developers, who are also its corporate clients, launched on 10 March 2009, the Space for a Turnaround (Prostor za preokret) campaign. It is aimed at improving the dynamics of the real estate market in Croatia. Currently, the Croatian citizens can choose from 111 apartments out of a total of 1,329 that are being financed by RBA within this sales event and with special, better purchase and loan terms.

At the time RBA launched this campaign, the real estate market was in almost complete standstill. So far, 552 apartments were sold during the event, which is not a negligible result if you take into account that the situation on the real estate market is still very demanding.

First round of the special offer	Total
Apartments available	111
Apartments sold	552
Maximum discount	29%
Lowest price in EUR / m2 – after reduction	900
Highest price in EUR / m2 – after reduction	3,150
Average price in  EUR/m2	1,597.79

From 1 July 2012, RBA will be offering home loans with lower interest rates and better loan terms. The offer ends on 30 September 2012. The new interest rate for purchase of apartments during the Prostor za preokret® (Space for a Turnaround) sales event is 4.45 percent. The loans are available only in EUR and have a fixed interest rate for the first two years of loan repayment.

Compared to similar loans on the market, the main advantages of RBA Flexi home loans for purchase of apartments during this sales event is the choice of various loan insurance instruments, possibility to contract a loan for the entire apartment value, possibility to contract a loan for purchase of warehouses, garages, garage or parking spaces if they are purchased together with the apartment, and zero cost for creation of apartment value estimates.

Developers, who are also RBA's corporate clients, as well as seven Croatian furniture manufacturers who have so far joined the campaign, have provided 10 to 29 percent discounts for their apartments. The developers are: Centar-prom d.o.o. Slatina, Domus d.o.o. Virovitica, Dubrovnik gradnja d.o.o., Florida marketing d.o.o. Sveta Nedjelja, HBS d.o.o., Varazdin, Inem-Electronic d.d., Jan-kompanija d.o.o., KBB Kardum d.o.o./S.T.D., Modus dea d.o.o., NDS Nekretnine d.o.o., Opeka d.o.o., Plisten d.o.o. Zagreb, Premijer d.o.o., Profectus Laniste d.o.o. Zagreb, Projekt Ilica d.o.o., Simara d.o.o., Skeptron d.o.o., Smid-prom, Team d.d. Cakovec,  Teming d.o.o., Termo - M.A.D. d.o.o., Osijek, Upravitelj gradnja d.o.o., Zadar Mobile d.o.o and Z. P. Imobilien, GKT-GRADIN d.o.o., The seven furniture manufacturers are Trokut d.d. Novska, Inkea d.o.o. from Zagreb, Dut d.o.o from Zagreb, Nika dizajn from Zagreb, K.M. DRVO d.o.o. from Velika Gorica, Moj izbor d.o.o. from Zagreb, and Kenda from Zapresic.

If you visit www.limun.hr, you will find all the apartments on offer, as well as all the additional information that can be useful if you are interested in purchasing an apartment. www.limun.hr will also provide the coverage of event results until 30 September 2012, or until the discount quota is exhausted. The apartments shall be sold by the sales staff of developers involved in the campaign. The terms of discount RBA home loans Flexi can be obtained from any RBA branch office. Detailed information about RBA home loans can be obtained in RBA offices that approve home loans or in RBA’s contact center. The apartments on offer in this sales event can also be purchased by loans from other banks and/or from one’s own funds.

Croatian manufacturers of furniture and home equipment are welcome to join the Space for a Turnaround the campaign.