Posts Tagged ‘property in Croatia’
December 22nd, 2009 | 
Author: So you’ve been to Istria and you want to set up house there? The Financial Times has a highly informative article covering all aspects of buying a house or apartment in Istria whether for a residence or a rental property. From feuding families to bureaucratic hurdles the buyers profiled in this article managed to overcome it all to build their dream houses. Unlike the fevered buyers that swept down from the UK a few years ago, today’s buyers are more likely to be Italians and Slovenians than Brits. Russians are also entering the picture even though non-EU citizens must obtain government approval of a property purchase. It’s true that the property market in Croatia has cooled down this past year but Istria remains a good investment as well as an extraordinarily good place to live.
Read more about buying property in Croatia or about Istria.
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As of this month, the government has made it MUCH easier for foreigners, especially EU citizens, to buy property in Croatia. Now foreigners can buy under the same terms as Croatian citizens, which is to say, with much less red tape.
The change was made in response to EU regulations as Croatia is up for ascension next year. It certainly was not as a result of public clamour for more foreigners owning land.
Contrary to dire fears among Croatians, that their choicest bits of real estate will slip under foreign control, it looks as though the economic crisis means that fewer foreigners than expected will be snapping up property. Consider the prices: 3,650 euros per square metre of a flat in Dubrovnik and 1,750 euros for the same in Pula! Croatian real estate professionals had expected that loosening regulations would lead to a whopping 5% increase in sales but now even that estimate is being revised downward.
As it turns out, Germans are the biggest foreign owners of Croatian property. Figures show that as of January, only 11,517 foreign citizens or firms owned property in Croatia. The list was led by 5,149 Germans, and then followed by 3,131 Slovenians, 2,187 Austrians and 1,358 Hungarians.
The figures were several times smaller than what the Croatian media had estimated.
Find out more about buying property in Croatia.
