Croatia eases path for EU property investors
Croatia eases path for EU property investors
From February 2009 EU citizens will have the same rights as Croatian nationals when it comes to investing in property in Croatia. This has lead to speculation that Croatia will soon join the EU.
EU citizens currently face hurdles when buying
property in Croatia. Under the present system they have to wait while the
Croatian Land Registry checks if a reciprocity agreement exists with the investor's native country, reports Overseas Property Professional (OPP).
This lengthy approval process is gradually speeding up but can still take weeks. However, as of February 1 next year,
reciprocity checks will no longer be required, except in the case of certain agricultural holdings and property on environmentally protected land.
"People who want to buy as a private individual, or through a company can now do so, as the
approval process at the land registry is dropping steadily - from the one to two years it took last year to just months now," Nick van der Bichelaer from
Dutch estate agency Middelland Croatia told OPP.
"This is just one more confirmation that Croatia is set to
join the EU. However, after that happens prices will rise and negotiating sales will become more difficult," he speculated.
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