Croatia is a relatively small country, with nearly 6,000 kilometers of coastline. It is a unique and almost non-urbanized coast in the heart of Europe. Buying a property in Croatia is considered to be a good investment for many foreign nationals. However, according to the research, only 3% of foreigners choose to invest in the area around the capital city of Zagreb, whilst the rest decide on investing in the properties on the coast. Here’s why!
How to go about buying property in Croatia?
Breathtaking scenery and an excellent geographical position make Croatia easily accessible from all the major European cities. Whilst most property investments have a certain degree of associated risk, this is one of the fastest-growing real estate markets in Europe. Buildings located in the historic centers of Istrian and Dalmatian towns have recorded an increase in sales prices because foreign buyers are very attracted by the possibility to own unique historic stone buildings. However, as the old town centers are becoming increasingly expensive, investors are looking for the areas around the historical centers, as well as inland and rural parts, in order to get a better value for money. Due to the huge interest, foreign buyers have shown in typical Dalmatian stone houses in the region’s interior, these are quite difficult to find. Alternatively, the countryside in Croatia is the right place to invest in your dream house as it has a moderate climate with plenty of sunshine, breezy nights, and natural beauty.
How difficult is the property purchase process in Croatia?
EU citizens are now able to buy on the same terms as local Croats, whilst property buying in Croatia for non-EU citizens is governed by the principle of reciprocity. It means that after signing the sales contract, the contract is submitted to the competent Ministry together with certain documentation. When the Ministry issues the consent, the registration of ownership follows. For a non-Croatian-speaking foreigner, the easiest route to purchasing a property is to go through an agency, which is likely to have staff who speak their language. This whole process can be simplified by hiring a real estate agent to select the desired property and authorizing it to do the bureaucracy for you. They will search, advise, negotiate and see through to the completion of your acquisition.
In the end, Croatia’s property market is expected to strengthen again in the second half of 2021, as the economy returns to growth. Once you decide on a property in Croatia to buy, laws can get overwhelming, and this is why it is so crucial to hire professionals with local knowledge to assist with the process. Very useful information can be found on the following link: https://croatiarealestates.com/