Post by Anna on Aug 22, 2004 17:56:41 GMT 1
Today's edition of the leading Croatian broadsheet, Vjesnik, has a very interesting article on foreign property buyers in Croatia.
In the subheading they say "the English mostly buy property on the islands, but the most applications for owning property in Croatia come from Hungarians, Austrians and Germans."
The newspaper states that from January 1st 2000 up until August 1st 2004, there were 6,034 such applications made to the Croatian Ministry of Foreign Affairs, of which 2,150 were approved. [Presumably, this is more a reflection of how long the application process takes, rather than indicating that a great number are rejected. In actual fact, very few are.]
Vjesnik confirms that only foreign nationals from countries which have a reciprocal property-purchasing agreement with Croatia can buy property. (EU countries, USA, Australia etc.)
The Ministry of Foreign Affairs approves applications after consultation with the Ministry of Justice.
To make an application, buyers need proof of purchase, proof of nationality, the deeds of the property, and approval from the country's Planning Board.
An application costs 50 Kunas and the approval document costs 100 Kunas. Any ammendments to the document cost 20 Kunas.
The president of the property division of the Croatian Board of Trade ("Hrvatska Gospodarska Komora"), Dubrovko Ranilovic, is quoted as saying that the English are very active and quick property purchasers. Some English people have started their own agencies to help others in making the buying process simpler and quicker. Ranilovic also says that the reason why so many English people are interested in purchasing property in Croatia comes down to a considerable amount of publicity in the UK media. He predicts that the current huge demand for property will last for only another two or three years. According to him, property prices will increase in 2005, but only for prime properties near the sea; for other properties, prices will remain constant. In the following year, he predicts a downturn in prices, particularly in overbuilt areas such as the Markarska Riviera, the island of Krk and the Sibenik area. In conclusion, he states that property prices in Dubrovnik are much too high [another newspaper has it at €6,000 per sq. m.] and that they must come down.
In the subheading they say "the English mostly buy property on the islands, but the most applications for owning property in Croatia come from Hungarians, Austrians and Germans."
The newspaper states that from January 1st 2000 up until August 1st 2004, there were 6,034 such applications made to the Croatian Ministry of Foreign Affairs, of which 2,150 were approved. [Presumably, this is more a reflection of how long the application process takes, rather than indicating that a great number are rejected. In actual fact, very few are.]
Vjesnik confirms that only foreign nationals from countries which have a reciprocal property-purchasing agreement with Croatia can buy property. (EU countries, USA, Australia etc.)
The Ministry of Foreign Affairs approves applications after consultation with the Ministry of Justice.
To make an application, buyers need proof of purchase, proof of nationality, the deeds of the property, and approval from the country's Planning Board.
An application costs 50 Kunas and the approval document costs 100 Kunas. Any ammendments to the document cost 20 Kunas.
The president of the property division of the Croatian Board of Trade ("Hrvatska Gospodarska Komora"), Dubrovko Ranilovic, is quoted as saying that the English are very active and quick property purchasers. Some English people have started their own agencies to help others in making the buying process simpler and quicker. Ranilovic also says that the reason why so many English people are interested in purchasing property in Croatia comes down to a considerable amount of publicity in the UK media. He predicts that the current huge demand for property will last for only another two or three years. According to him, property prices will increase in 2005, but only for prime properties near the sea; for other properties, prices will remain constant. In the following year, he predicts a downturn in prices, particularly in overbuilt areas such as the Markarska Riviera, the island of Krk and the Sibenik area. In conclusion, he states that property prices in Dubrovnik are much too high [another newspaper has it at €6,000 per sq. m.] and that they must come down.