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Post by valiant on Feb 2, 2008 23:02:35 GMT 1
does anyone out there ...agree that realestate, especially in dalmatia, is drastically, horribly, insanely ...overpriced!!??
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Post by zorro on Feb 2, 2008 23:04:43 GMT 1
yes val, I agree with everything you say, but seriously, its on the slide, everyone in Croatia is waiting like wolfs for the eu, no one will sell or buy anything
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Post by valiant on Feb 2, 2008 23:51:35 GMT 1
too bad ...weve become dependant on the eu for economic sanity!!! eu will save us!!! comon eu...help us!!! we need you now!!! please come!!! put croatia under your wing and save us from ourselves!!! hahahahha. man o man.
croatia is a beautiful example of how a nation can absolutely cave in on itslef and its own people....a nation with no integrity at all.
post commy mud moulded by croatian political craftsmen and all overseen by eu investors who are itching with greed
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Post by Carol on Feb 3, 2008 0:09:17 GMT 1
I know talking to a croatian about the EU is the same as talking to a Jehovas witness about inconsistencies in the bible, but read your own post for god's sake! You say 1. its overpriced and 2. the EU investors are itching with greed to buy it.
So which is it? The profit is in the future or the past??
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Post by valiant on Feb 3, 2008 0:23:38 GMT 1
carol....whats wrong with you???
youre abviolsy having a hard time understanding me. read my other posts.
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Post by darcy on Feb 3, 2008 0:40:58 GMT 1
Is there any way of finding out what was the sale price for any property in Croatia and where do I need to go? Land office or tax office?
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Post by valiant on Feb 3, 2008 17:06:20 GMT 1
no...thats probably impossible. youd have to get the person who sold something and torture them. records will show a fake reduced sales price... so that the tax rate is reduced. its common practice. you can sell something for 1.5 million euros...and declare that you sold it for a more realistic and believable price of about 150.000 euros.
i know of people who are asking over a million euros for their homes...they say that if they get that much they will be happy...and if they dont sell ...theyll stilll be happy.so prices are artificially inflated...and no normal working croat will ever be able to buy a house on croatias coast...not now..probably not ever.
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Post by Eric Thornton on Feb 8, 2008 15:42:40 GMT 1
To the person interested in real estate prices in Croatia; whilst I agree with some of the other people that posted responses that you must be very aware of price inflation when - as a non-Croatian - you look for real estate, it is far more important that you take your time and form your own opinions as to what is overpriced and what is not. My wife and I have just purchase a home in Supetar on Brac. It has seven bedrooms/three full baths in a 3,400 sq-foot house on an 11,000 sq-foot lot with rooms sized to "western tastes" and is located about 75 meters from the beach. We paid 400,000 Euros for it. All the agents will tell you their properties are "very close" to the sea, but I found my version of very close (5 min max walk) was quite different than many estate agent's definition of close (sometimes 20 min walk down very steep hills). Some of the house you will see have been divided up into kind of boarding houses. Others are so tiny (200 sq-feet) you might think the estate agent is playing a joke by showing it to you. This has to do with different priorities between an American or Western European buyer and someone, for example, from Eastern Europe. However, our search has been a four-year venture with the first three home we bid on not working out because of "dirty titles/deeds." Many real estate agents will tell you not to worry and everything is fine because they know the sellers for years - DO NOT LISTEN TO THIS. You need to get a good attorney you found via personal recommendation from some YOU trust. The three houses ended up having title listed to multiple people and in each of the failed cases only a subset of the owners were able to be located. The real estate agents in each case said "this is normal - don't worry." However, our attorney in Split informed us that this would probably not be a problem until we wanted to sell the property - at which point it could become a big problem. The house we ended up purchasing took 19 month of negotiations to close the deal. First hurdle; the sellers (living in Germany) told the estate agent that she would never sell to Americans. Only after we contacted her and were able to have a discussion in German did we move onto the next step. I won't burden you with all the details except to say it is a far different process that property purchases in the US or UK. One other issue to consider is that if you only have US citizenship, you will find it both difficult and expensive to open a bank account in Europe because of US money laundering reporting laws our government has. Last thing to think about is how you will get money into Croatia. My bank in New York wanted a crazy fee to send 400,000 Euros to Croatia. Because of our fantastic attorney, we were advised to set up multiple accounts in Croatia (US Dollar, Euro & Kuna) allowing me to wire dollars from the US into the Kuna account - thus reducing exchange fees. Finally, if you buy as a non-Croatian, you will need to set up a "d.o.o. holding company." The alternative is to ask permission from the Croatian government which can take up to a couple of years. However, you must pay for the property before you apply for permission to own it - I was very uncomfortable with this arrangement and was also told there are complications to renting the property by the week if not done via a holding company. Don't lose hope - but, more important - DON"T RUSH and learn the market and its prices for yourself or you could get badly burned. We ended up with a great situation mainly because we didn't rush. Although I never dreamed it would take four years. Get an attorney, discuss setting up a d.o.o. holding company and figure out how you will do your banking before you fall in love with a place. Hope this helps. ![]() [/img] |
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Post by mark2 on Feb 8, 2008 18:10:34 GMT 1
does anyone out there ...agree that realestate, especially in dalmatia, is drastically, horribly, insanely ...overpriced!!?? Specific areas of the Dalmation Coast are still very bouyant in the property market, especially in the Zadar Riviera region, I can not speak for the rest of the Dalmation Coastline. |
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gramand
Full Member
[M0:0]Croatia what a wonderful place to be
Posts: 65
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Post by gramand on Feb 20, 2008 11:35:21 GMT 1
I agree with Eric it took me 3 years and many disappointments to find not the house of our dreams but something livable at a reasonable price and a vendor with a reason to sell.
The company route was invaluable almost as good a decision as the feisty and very particular lady lawyer.
Yes the market is still overpriced when you take into account the low income available from the very short tourist season. This will alter in time, I am sure, as people come to terms with a climate that is warm and reliable pretty much from Mid April through to October.
Although the lo cost airlines could help by sticking to policies and agreements, they could well improve their take with consistency. I must make as rule never to take advantage of the 1 euro flight offers ever again!!
If anyone is thinking of buying I would be happy to share the experiences I had and stop others making the same mistakes.
There are
Honest agents
Competent efficient lawyers
Helpful notaries
Excellent court interpreters
Straight officials and judges
Good reliable builders
etc....................
You just have to find them and reward them fairly when necessary but mostly treat them with respect and struggle however poorly to speak a few words in the Country's language. A 100 word vocabulary an ability for charades and a smile goes a long way in Croatia.
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Post by zorro on Feb 21, 2008 7:33:03 GMT 1
The jury is still out on judges.
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Post by andrei on Feb 29, 2008 18:14:31 GMT 1
I have been working in real estate in Croatia for 4 years and the beauty and long term end user prospect of this country convinced me to settle permanately here. Most of what has been said in this forum is true, process rather complicated in dealing with sellers and finding the right professionals to help you. Prices not low or rather on the high side etc etc.
When one lives here and sees the long term aim of the Croatian government towards quality high end tourism, when one sees prices in countries like montenegro with no infrastructure and an open invitation for overdevelopment, when one sees the unique and i repeat unique potential of Croatia's property market, the time, effort and extra euros are worth it all.
One tip, when I came here to invest 5 years ago I was going to despair in trying to do business with Croatians, then I met a foreigner who was trying to introduce a little bit of western standards to this business and we did wonders in a few years. Nowadays I offer such a service and all my clients are very satisfied with what they bought.
As for pricing, 2 months ago I found a 250m2 old stone house, full of character with 800m2 of land(needs total renovation) with incredible sea views for 70,000 euros. You will not find that anywhere in this part of europe. You have to find somebody who you can trust who can find you these properties. There are still many around and like anybody else there are people around wanting to sell cause they need the cash !!! Nonsense to those who say they are not selling !!! Come here ready to deal and place a secure deposit after checking everything and I can assure you there is a killing for everybody !!!
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