Croatian government set to remove restrictions for European buyers

Croatian government set to remove restrictions for European buyers

0 2009

Buying a home in Croatia is set to get easier with news that the Croatian government is removing restrictions on European Union citizens from February 1st, 2009.

From that date, EU citizens will have the same rights to purchase property as Croatian nationals, other than certain rural land. The Croatian government is also streamlining some of the other processes of buying property in the country to help harmonise domestic legislation with the rest of the EU. Croatia may be joining the EU as early as next year.

Andrew Piper from Emerging Market Property says, “By opening up property to European buyers, the government will enable more people to buy in Croatia. This is likely to push prices up, which have already been increasing at a rate of approximately 10 per cent a year.”

“While there are a number of advantages to buying via the current method through a local company, such as the possibility to make a VAT reclaim on the purchase price and the ability to rent the property, this will give people another option.”

Charlie Winand from Cushman & Wakefield’s International Projects department says: “The islands in central Dalmatia are increasingly popular with British buyers for the sparkling turquoise waters, calm seas and delightful weather.

“The island of Brac is a particularly appealing, being the largest of Croatia’s central Dalmatian islands with a number of facilities and amenities and less than an hour’s ferry ride from Split.”

Cushman & Wakefield are selling Kavanjin, a contemporary development of 86 one-, two- and three-bedroom apartments on the north western side of Brac, just a five-minute walk from the water, with views of Sutivan Bay and Split beyond.

Prices are start at €157,500 (approx. UK£124,424) for a 73 sq m one-bedroom apartment and ranging up to €369,000 (approx. UK£291,508) for a 325 sq m three-bedroom apartment.

For more information, please contact Charlie Winand at Cushman & Wakefield, Tel: 020 7152 5767 or Visit: www.kavanjin.com