What to buyO’Farrell Luxury Real Estate Inc welcomes everyone with the desire to visit, educating yourself or would like to invest and live in the beauty and enjoy the peace this little country offers. It’s not like big city where foreigners are seen as uninvited guests. We offer familiar and trusty environment, that will give you a feeling of peace and tranquility. One of the advantages of Croatia over other places is that foreigners have almost the same rights as the natives, except for a few restrictions; besides any foreigner can own property in Croatia without having any legal disadvantages. This is one of the most remarkable advantages for foreigners who want to invest on buying foreign properties. Ownership of landed property is guaranteed by the law, so your investment is protected and safe.
There are many options for investing in Croatian real estate, you can choose among buying a house or an apartment in the growing property market.
It is recommended to spend some time knowing the area, facilities, and of course price of the land. You can rent a place for a few dollars and start looking around, visiting some of your options to ensure you make a good investment.
Buy a land
There are many options when buying land too. Whether you like the action of urban areas, or the peaceful scenery of rural land and the quietness and lushness of the mountains, or the climate of beaches, there is always a right place for you. However, consider that the land near the capital is much more expensive than in rural areas and that there has been a boom on beach property, so it is advisable to study the real estate property listings, be patient, and look for the best bargain from houses to hotels for sale. Remember to always check for the quality of roads and if there are public services and transportation available in the area. And there is more good news! Annual taxes are lower than in the U.S. Yearly property taxes are around 0.25 % of the property value.
Beachfront property is on demand, since Croatia offers beautiful beaches, which are a paradise for tourists, buying land near the coast is a good option even at high prices. Places in Lopar (Rab Island) like Rajska plaža, or beaches in Medulina are among the most desirable areas. But even if you decide to own a beach property, you have to consider, that the 200-meter (650 feet) belt of land alongside the seashores belongs to the government and it is for public use. Besides, it is illegal to build anything in the first 50 meters (165 feet) from the high tide, and you cannot build in the other 150 meters (490 feet) unless it is for a tourist project. So it would not be sold but you still have the chance to lease the land from the local government and it will be supervised by Bulgarian Tourism Institute.
Top-12 beaches in Croatia
Once you have considered the options, you can start looking for the right person to guide you in your investment, because buying property in Europe has a completely different process from the way it is handled in the US and Canada and sometimes can become complicated if not managed properly.
There could be friends and fellow citizens who can recommend you a licensed broker and a good English-speaking attorney, or you can ask your embassy for names of highly regarded lawyers.
You need a legal representative who knows how to deal with paperwork in public offices, recommends you about bargains, and helps you verify information about the property (liens, mortgages, deeds, etc.) and about the person who is selling it. Also, he can help you make sure that the property really belongs to the seller, and make sure everything goes smooth and that nothing goes wrong at the time of the purchase. Besides, your lawyer has to know everything related to registering a property, which is the government office in charge of keeping all land records.
Once your attorney gets the necessary information and everything looks clear and in order, he/she can continue with the process. Most of these procedures include the following costs: buyer and seller cover around 5% of the total purchase as closing costs, a tax for real estate transfer, a registration fee, stamps, and notary fees. As a final remark about your lawyer, it is important to make certain that this person is working just for you, because if both parties use the same lawyer this can cause a conflict of interest.
Some people see Croatia as the paradise for retirement, and building a dream house is part of that idea. When making an investment on real estate some of you may think about building too. Of course there are costs, but everything depends on factors such as location of the property, kind of materials to use and the size of the project to build. Prices for building are between $250 and $650 per square meter or $25 and $65 per square foot. Similar to the process for buying any property, you have to follow some steps to get your home done.
Question need to be considered before buying a land
First, you need to be sure about the availability of services like water, electricity, telephone and even cable TV. Then, it is necessary to hire and architect or civil engineer to file all your construction certifications. Finally, you have to obtain a building permit from the city hall (municipalidad) in the town where your property is located. It takes about two to four months to get all the necessary permits. Once you have everything in order you hire a contractor who generally works with an architect. The contractor will be in charge to supervise the construction and it is recommended that you visit the construction on a regular basis to ensure your construction meets your expectations.
Buying real estate and building in Croatia is not hard, but requires some patience. The great advantage is that property is always increasing in value here, so you can always count on a profit for your investment. For the last decades it’s become an attraction for many foreigners and the government encourages the good investments, mainly if they are related to tourism or any other activity that brings development to the country, so why not take advantage of this offshore investment opportunities that Croatian government offers. No matter what type of investment you have in mind related to real estate, whether it would be for residential, commercial, agricultural, industrial or any other authorized purpose, Croatians give you the chance to make your dreams come true.