Post by r0machka on May 12, 2007 14:36:14 GMT 1
On a recent trip to a Dalmatian Island, I spoke with an estate agent about buying property as a holiday home. After a little research into some of the things he said i would be most grateful for a little advice, if you could spare a moment.
I am a UK citizen and intend to buy property in Croatia for sole use as a holiday home by my family and I. I am willing to buy the property as a private citizen or set up a company in Croatia and use this entity to buy and to run the property. I am aware of the difference with regards the cost and timescales for completion, and the importance of checking the cleanliness of the title.
Due to the finances available to me and the property market on the Island, I was recommended to buy agricultural land. I would not be buying 30,000sqm+ and so would not be granted the automatic building land privileges. However, I was informed that by buying an area of 2-3000sqm of agricultural land I would be entitled to build on 20sqm (this would normally be used by a farmer for his tools and the odd overnight stay). This would be sufficient for my requirements. The property I may be interested in would have direct public road access, and water and electricity very close by. I was quoted between Euro3 - 7 per sqm depending on development (woods/rocks -> cultivated olive groves), and that the property may consist of both. I was told that there may be a possibility in the future of applying for permission use a portion of the agricultural land as building land, however if this happens great, if not then i am not too bothered. I will be using a solicitor from the mainland for the conveyancing.
I am aware of Croatian legislation preventing a foreigner buying agricultural land - but i am not sure if this applies to buying as a private citizen or a company or both.
So my questions are:
Can a foreigner buy agricultural land as a private individual or Croatian business or both?
Can I really build on and use as a holiday home the 20 sqm on any size of agricultural land?
How realistic are the Euro 3-7 per sqm prices i was quoted?
I am aware of the business set up costs. However what annual costs would you foresee for this project if set up as a business?
I am a UK citizen and intend to buy property in Croatia for sole use as a holiday home by my family and I. I am willing to buy the property as a private citizen or set up a company in Croatia and use this entity to buy and to run the property. I am aware of the difference with regards the cost and timescales for completion, and the importance of checking the cleanliness of the title.
Due to the finances available to me and the property market on the Island, I was recommended to buy agricultural land. I would not be buying 30,000sqm+ and so would not be granted the automatic building land privileges. However, I was informed that by buying an area of 2-3000sqm of agricultural land I would be entitled to build on 20sqm (this would normally be used by a farmer for his tools and the odd overnight stay). This would be sufficient for my requirements. The property I may be interested in would have direct public road access, and water and electricity very close by. I was quoted between Euro3 - 7 per sqm depending on development (woods/rocks -> cultivated olive groves), and that the property may consist of both. I was told that there may be a possibility in the future of applying for permission use a portion of the agricultural land as building land, however if this happens great, if not then i am not too bothered. I will be using a solicitor from the mainland for the conveyancing.
I am aware of Croatian legislation preventing a foreigner buying agricultural land - but i am not sure if this applies to buying as a private citizen or a company or both.
So my questions are:
Can a foreigner buy agricultural land as a private individual or Croatian business or both?
Can I really build on and use as a holiday home the 20 sqm on any size of agricultural land?
How realistic are the Euro 3-7 per sqm prices i was quoted?
I am aware of the business set up costs. However what annual costs would you foresee for this project if set up as a business?
!!