The idea of buying property in Croatia seems to be reaching fever pitch.
Croatian real estate has risen in price recently but there are still
some great bargains to be had if you know where and how to look. Still,
buying real estate in a foreign country can be intimidating. Here are
the answers to some common questions:
What is the price of real estate in Croatia? Of course, a lot depends on where you buy and the condition
of the property. Generally figure on spending at
least €1000
a square metre for a place on a Dalmatian
island and double that
for highly desirable properties on the coast or in town centres.
Prices in the centre of beloved Dubrovnik are
now about the same as in central London! Istria is also getting
expensive.
What is the biggest hurdle as a buyer?
Clearing title can be a big problem. Many times, houses
are owned by a widely scattered family. Croatians used to have big
families and often they are now in far flung corners of the globe.
Some can't be found; some can't be persuaded to sell. It can be
a time-consuming process.
How can I insure I won't get ripped off? It's essential to have a good and honest
lawyer. Real estate
agencies are largely unregulated in Croatia. Placing confidence
in the wrong agency can leave you with no recourse. Your lawyer
should insure that the paperwork is squeaky clean and check out
local zoning laws to give you unrestricted use of your property.
Is the quality of housing good? Croatia has a large supply of solidly built old houses.
Construction standards on newer houses are generally
good but check
to make sure that the water and electricity has been properly connected
to municipal systems.
Where should I buy? Consider the accessibility of your chosen
location. Can you get there all year or is accessibility limited
in the off season? Be advised that ferries
in Croatia reduce their
schedules in winter and winter flights
to Croatia are also much
less frequent. It's wise to spend some time in the place that interests
you. Get to know some locals and ask about local issues. Some Croatian
islands have
serious water problems. Generally, water is extremely clean throughout
Croatia but some municipalities have drainage disposal problems
or a farmed fish industry that fouls the water. Forewarned is
forearmed.
