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CROATIA - News Articles - The Croatian Property Market


According to Croatia Estate the average purchase price is 150,000 Euros and there are various 'hot spots' such as Dubrovnik, Hvar and Istria. According to the Foreign Office in Zagreb just 8 British people received 'permission' last year, which is obviously different from 'buying'. Alternatively if you pay in full to obtain possession with a house without clean title eventually the government will come looking for its 5% purchase tax and then you will lose the house. Bargains still come up and you need to move quickly when they do and will tend to be now in slightly more obscure places. Europe has special regulations for healthcare, so migrants are covered for a proportion of the costs," says Hull. However there is a point if permission drags on for over a year where it may become tempting to a vendor to pay you the double deposit if the price of the house has increased sufficiently to make it worthwhile. I have tried to investigate this figure because my experience will tell me that the numbers are much lower than that. If a vendor breaks a pre contract he owes you double the deposit as a payment. In my opinion such properties do not exist-certainly not with clean papers - it struck me as a straightforward publicity stunt. Indeed if Istria has experienced that kind of capital appreciation then presumably there is hope for the rest of Croatia achieving similar figures in the run up to potential EU membership. Other factors that will add to the equation will be the new motorway and new budget carriers entering the market. The family home will be passed down the generations with the new names being added to the title deeds. The population of Croatia is now around the 4 million mark and nearly that many again emigrated through the many troubles the country has witnessed in the last 50 years. There appears to be 2 main ways to achieve this goal-either by buying as a Croatian Company or through contract wording by your solicitor. There has been some press copy recently saying 300 Brits bought last year, which everyone now seems to be quoting. This is the danger with property search agencies, as they tend to advertise in the local press and people soon realise they are buying for foreigners. Unless you have an offer on a property with clean title the sale will never complete.