CZECHIA REAL ESTATE PROPERTIES
Croatia Real Estate Market
Croatia's property market is expected to remain strong in the coming years, thanks to robust demand supported by healthy economic growth. Croatia's property market is expected to remain strong in the coming years, thanks to robust demand supported by healthy economic growth, according to the Croatian Bureau of Statistics (CBS). Most Croatians are owner-occupiers. About 90.5% of Croatian households are currently living in an owner-occupied home or apartment, according to the Eurostat. The country's long-term rental market is very small. Most long-term rental properties are in Zagreb, Dubronik, and Split.
Total roundtrip transaction costs are high, ranging from 10% to 15% for old properties. The bulk of the cost is accounted for real estate agent's fees, at 3% to 6%, split between buyer and seller. The real estate transfer tax is 5% but does not apply to the first sale of new buildings.
International Investment in Croatia
The right of non-EU foreign nationals to buy a property in Croatia depends on reciprocity agreements between Croatia and the foreign buyer's home country. Foreign Buyers flock the costs. Croatia's high-end residential market continues to attract foreign buyers. About 70,000 foreigners own property on the Adriatic Coast. Only 3% of foreign buyers choose the City Capital, Zagreb. Luxury properties in Istria are popular among Germans, Austrians, and Slovenians. In Dalmatia, most luxury demand comes from the Croatian diaspora: Sweden, Slovakia, and the Czech Republic. Luxury homebuyers in Opatija are mostly Russians.
Of Croatia's 20 regions, the five most popular with foreign buyers are on the Adriatic Coast: Istria (33% of foreign-owned properties), Primorje-Gorski Kotar (26%), Split-Dalmatia (12%), Zadar (8%), and Dubrokniv-Neretva (6%).
Before Purchasing a Property
In order to have a clear definition of your project and meet your goal, it is necessary to process as follow:
1. DEFINITION OF YOUR OBJECTIVES
Before any process or research, it is necessary to define tangible objectives for your future investment: a rental profitability or an appreciation of your property, etc. We help on market specifics.
After Defining your budget, our team in Czechia will make available all the best properties that meet budget and your goal.
3. INVESTMENT STRUCTURE
Creation and registration of your company within 72 hrs. until ID Tax number id provided by the Czech tax authorities.
4. BANK ACCOUNT
Following the creation of your company, the next most important step is to open a bank account for all the transactions related to your investment: Rent payments, property tax payments, etc. The opening of your account can be carried out remotely by our Czech team on presentation of your credentials and registration of your company in Czechia. You will have access to an online bank and will be the sole owner and manager of your account.
Purchasing a Property
Besides the definition of your project and the creation of your company, our Czech Team will support you in the research, negotiation and acquisition of your real estate property.
1. PROPERTY RESEARCH
Iintroductory market study will help outline your research and target opportunities on properties for sale, new or pre-construction. Click below to see our listing.
2. VISIT OF PROPERTY
Our Team will also help you to schedule your stay in Miami in accommodation, travel, property showings, etc. Then, you select the most appropriate property before drafting an offer.
3. OFFER AND DRAFT PURCHASE CONTRACT
After final acceptance, the Purchase Agreement is written according to the Laws of Czechia and the European Union. A deposit of 10% of the amount is required at the signing of the contract. It will be blocked on the Escrow Account of the Title Company in charge of necessary investigations.4. SIGNATURE AND “CLOSING DISCLOSURE”
After due process, Contract is signed and the balance and other fees shall be paid. Agency and Notary Fees are 1.5-5% of the amount.
Our Czech Agents and Representatives are always here to assist our prospective international investors to meet their needs. We give our clients a full representation and bring them all the tools needed to realize their real estate investment safely.When investing in Czechia, our priority is to make sure that this investment is protected as well as the investors under the Czech Laws and the European Union. Having a legal structure in place will be beneficial in many ways: 1) Better Tax Optimization, 2) Privacy and 3) Liability.