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Post by boris on Feb 2, 2009 19:59:23 GMT 1
Croatia opens up real estate market to EU citizens
(from Max fax)
The new property law makes land acquision in Croatia easier, as foreigners will be free to purchase property in Croatia regardles sof which EU country they come from.
The new law complies with Croatia's obligations under the EU Stabilization and Association Process, which entered into effect on February 1.
Croatain citizens will be able to purchase property in EU member-states once the country formally joins the bloc.
Acquisition of real estate is more restricted in Finalnd, Denmark and Malta, where foreigners must reside in the host country at least five years to acquire the right to purcahse house or apartment.
Slovenia, Romania, Bulgaria and Poland postponed the liberalization of secondary residence market. /end/ vs
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Post by Ribaric on Feb 2, 2009 20:38:43 GMT 1
At the risk of hi-jacking your thread Boris, I don't think this makes much difference to anyone in a practical sense.
Anyone here regard this as anything other than a non-event?
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Post by Carol on Feb 3, 2009 10:32:19 GMT 1
It would be important if there were EU citizens wanting to buy. But there aren't really. So its a bit of a non-event until things change. Still removing four years worth of bureaucracy can't be a bad thing.
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Deleted
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Post by Deleted on Feb 3, 2009 12:18:00 GMT 1
well from what croatians have said to me they just view it as another way for foreigners to buy up their country and raise prices so they can afford less than they can even now
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Post by Deleted on Feb 3, 2009 12:19:29 GMT 1
and to add.......it doesnt change the ability to buy land..........just houses, ag property, fields and such you will still need to have a d.o.o. to buy such
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Post by happy on Feb 3, 2009 13:37:56 GMT 1
well from what croatians have said to me they just view it as another way for foreigners to buy up their country and raise prices so they can afford less than they can even now Many I talked to think it is a fantastic opportunity for them to sell their ruins for millions of Euros and allow them to get rich quickly and easily. They are already reading up the specs on the latest BMW. |
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sksk
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Post by sksk on Feb 3, 2009 16:48:50 GMT 1
It would be important if there were EU citizens wanting to buy. But there aren't really. So its a bit of a non-event until things change. Still removing four years worth of bureaucracy can't be a bad thing. Carol, is this true? No EU buyers? I was under the impression that Germans and Austrians were a steady and, perhaps to us Anglophones, hidden part of the Croatian property market. If the Germans stopped buying, Croatian second-home buying is in worse shape than I thought. |
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Post by dalmatino on Feb 3, 2009 20:04:26 GMT 1
how come the prices don't go down if no-one is buying?  |
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Post by ivetron on Feb 3, 2009 22:14:58 GMT 1
dalmatino, from reading awhile on this board the short answer would be that most croat sellers will actually raise their price in times like this. Yes, it makes no sense.
Regarding the easing of buying restrictions for the EU, what about people outside the EU, like in the US or Australia?
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Post by Ribaric on Feb 3, 2009 23:09:21 GMT 1
dalmatino, from reading awhile on this board the short answer would be that most croat sellers will actually raise their price in times like this. Yes, it makes no sense. Regarding the easing of buying restrictions for the EU, what about people outside the EU, like in the US or Australia? There appears to be a tendency for people to take it as a personal insult to be offered a price lower than their friends and neighbours think they should get. It's best not tog et involved so things just stay un-sold. Non EU citizens are screwed - in the same way as if they wanted to live in the US. This new law offfers nothing to them and very little to EU citizens. |
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Post by irac on Feb 4, 2009 13:33:22 GMT 1
Carol is completely correct, but failed to add a couple of other important factors:
1. ignorance
2. ego
Ignorance of the facts as locals are told their coast is the greatest in the world, the cleanest in the world, the women the most beautiful, the culture is a monoculture etc etc. It's funny when locals travel and start to wake up they change their tune.
Ego is a killer in every facet of life in Croatia. Explain something to someone and it's "I know, I know" (znam znam). Long ago god vacated his throne as Croatians (of all religious persuasions) are omnipotent.
Put both together and you have people who listen to a "friend" and then read Slobodna or watch Red Carpet and suddenly they're sitting on a goldmine, even if it's an open top ruin on 600m2. Realistic prices on land and property (per m2) in Croatia have been overvalued for 6 years and there are a number of sides to blame for this.
Our property section had 7 sales in 2008 (less than a third from 2007) and half the number of individual clients from 2006. The lady who looks after tours said there were almost 1/3 less bookings than 2007 and for this year advance bookings are the same. Croatia is not a viable low cost destination, even our staple middle class German speaking clients are looking for better and cheaper spots. Overall 2008 is stacking up to be the tightest year ever.
The new property laws are illogical, unimpressive and they should have been launched, when they were ready to do so, in 2002!
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Post by polako on Feb 4, 2009 14:03:49 GMT 1
Carol is completely correct, but failed to add a couple of other important factors: 1. ignorance 2. ego Long ago god vacated his throne as Croatians (of all religious persuasions) are omnipotent. That is a brilliant line Irac!!!! But in Porec it is always "ne znam" after any question. "Where can I buy x?" "ne znam" "But you have lived here for 40 years?" "Yes, ali ne znam?" "Could you recommend a plumber, or electrician?" "Ne znam" Aaaaaaaaaaaaargh!!!!!! Isn't that right fellow Istrians??? PS Glad to see you back Irac. |
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Post by irac on Feb 4, 2009 14:46:52 GMT 1
:-) I guess it's a regional difference!!! But if you're explaining something I wonder will they say that? :-)
Glad to be back Polako, I'm still in shock on how the country has continued to deteriorate despite EU warnings, 2011 is a nice dream now!
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Post by capio on Feb 4, 2009 17:59:12 GMT 1
I wish I'd met a few more Croats who admitted they know phuq all.
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Post by dalmatino on Feb 4, 2009 19:27:10 GMT 1
Carol is completely correct, but failed to add a couple of other important factors: 1. ignorance 2. ego I agree Ignorance of the facts as locals are told their coast is the greatest in the world, the cleanest in the world, the women the most beautiful, the culture is a monoculture etc etc. It's funny when locals travel and start to wake up they change their tune. 1. Not in the world, but one of the most beautiful and cleanest in Europe 2. Women are more beautiful than any country I've been, except for Argentina - but this is my personal view 3. Dalmatia has very rich cultural, historical, architectural and gastronomical heritage from ancient times. Ego is a killer in every facet of life in Croatia. Explain something to someone and it's "I know, I know" (znam znam). Long ago god vacated his throne as Croatians (of all religious persuasions) are omnipotent. I agree Put both together and you have people who listen to a "friend" and then read Slobodna or watch Red Carpet and suddenly they're sitting on a goldmine, even if it's an open top ruin on 600m2. Realistic prices on land and property (per m2) in Croatia have been overvalued for 6 years and there are a number of sides to blame for this. Again, I agree - the prices are very inflated, and the number one side guilty is corrupted local government. Our property section had 7 sales in 2008 (less than a third from 2007) and half the number of individual clients from 2006. The lady who looks after tours said there were almost 1/3 less bookings than 2007 and for this year advance bookings are the same. Croatia is not a viable low cost destination, even our staple middle class German speaking clients are looking for better and cheaper spots. Overall 2008 is stacking up to be the tightest year ever. This is not the case with my business. Last two years we invested a lot, and our results are very good. Croatia is not a low cost destination because food, energy, real estate prices are as high as in the E.U. |
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