With its prime location, affordable prices, and business-friendly environment, Croatia is an attractive option for buying or investing in commercial properties.
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We definitely think so! Croatia is a stunning country, known for its beautiful beaches, historic cities, and breathtaking natural landscapes. With its Mediterranean climate and picturesque surroundings, it’s no surprise that Croatian real estate market is booming.
Affordable prices. Compared to other popular destinations in Europe, such as France and Italy, the cost of living in Croatia is relatively low.
Croatia is safe with a high quality of life. Croatia also offers a high quality of life for its residents with its excellent healthcare system, low crime rates, and friendly locals.
Yes, it is possible for foreigners to buy properties in Croatia as the country has an unrestricted real estate market. Nonetheless, foreign buyers may need to comply with additional legal and administrative requirements, which may include obtaining a Croatian tax identification number, appointing a proxy or signing a power of attorney for the purchase, and acquiring permits in specific circumstances, such as buying agricultural land.
It is advisable for foreigners to seek guidance from a local real estate agent familiar with Croatian property law to assist them through the process. Pursuant to the latest Act of the Croatian government (2006), for all new applications only the consent by the Ministry of justice needs to be obtained.
A 5% real estate tax is mandatory for every buyer in Croatia when they purchase a property. This tax is calculated using both the contracted sales price of the property and the official assessment of its market value by the tax authority.
When must property tax be paid? The buyer is required to notify the authorized tax authority within 30 days of executing the sales contract to determine the property purchase tax. Once the tax authority issues a decision on the tax amount, the buyer must pay it within 15 days of receiving the decision. If payment is not made within this timeframe, interest will be charged.
Real estate prices in Croatia vary greatly and depend on location and region. On average, real estate in Croatia is the most expensive in the Adriatic regions and Zagreb. Over the past few years, Croatia’s real estate market has experienced a significant rise in both demand and prices. Despite the recent rise in prices, buying property in Croatia is still relatively affordable compared to other European countries.
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