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BUYING PROPERTY OFF-PLAN
How it works
FOREIGN BUYERS
OWNERSHIP
There are two ways for foreign buyers
to purchase property in Croatia. You can buy direct in your own name but
to do this you must first obtain clearance through the Ministry of Foreign
Affairs (a process taking over 6 months). The alternative is to set up
a company to execute the transaction. This process can generally be completed
within 6 weeks. A Croatian Company can be owned by one or more shareholders.
The shareholders do not need to be Croatian citizens. There is a cost
in setting up a Company. Capital of approximately £2000 (Euro 3000)
is required plus legal fees.
When you buy off-plan villas or apartments from
we will advise you on the different options.
Croatia is expected to join the EU and when this
happens access to the property market for foreign investors will become
easier. This can do no harm to property values.
TITLE
Croatian law allows full freehold ownership of
property but not all properties can show clean title. Many older properties
have shared ownerships and the high level of emigration during the 20th
Century (the second highest in the world after Ireland) mean that the
owners can not always be traced. When buying property it is essential
to establish whether the seller has clean and unambiguous title to the
property. will
only sell property where the title is clean and unambiguous.
WHERE TO BUY
Almost anywhere in Croatia's huge coastline can
be an attractive location for a holiday villa and there are many beautiful
inland locations. However, we have identified three broad areas to focus
on:-
ISTRIA
This is the area closest to Italy - the triangular
peninsula jutting down into the Adriatic. Istria benefits from easy
road access from Italy and is the only area currently accessble by low
cost flights into Italy and Slovenia. Almost anywhere on the Istrian
coast can be worth considering as well as the hilltop towns of central
Istria, an area that is often compared to Tuscany.
CENTRAL AND SOUTHERN
DALMATIA
At the southern end of the Croatian coast the
wonderfully preserved walled city of Dubrovnik is a major tourist pull
and the milder winter climates of the south are also an attraction.
Dubrovnik itself and the surrounding area as far north as the Peljesac
Peninsula are worth considering. Prices in Dubrovnik itself already
reflect the strong demand for property in this area. Further up the
coast the area around Split and the historic town of Trogir provide
spectacular coastal scenery coupled with the wonderful architecture
of these historic towns.
SELECTED ISLANDS
The islands are generally more difficult to reach
involving a ferry journey in addition to the flight in. However, the
special atmosphere of the islands can be ample compensation. There is
a great variety ranging from the already chic and buzzing Hvar Town
on the island of Hvar, to smaller islands where vehicles are not permitted
and the pace of life is more tranquil.
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