New real estate law in Croatia

Starting from February 2009,foreigners will have the same property buying rights as croatian nationals. This news has resulted in fear amongst Croatians that the most attractive part of their coast will be bought up by outsiders.

The current law states that forigners can buy real estate on the basis of reciprocity, meaning that the requirement is that his/her country also has an open real estate market, or that real estate can be bought if the foreigner has a company. 

Since July 2006, the Croatian authorities received 8,122 requests from foreigners for permission to buy real estate. During the previous nine years, only 3,553 permits were granted. Germans and Austrians submitted the most buying requests.

Because of Croatias 34-billion euro foreign debt, which at present amounts to more than 90 per cent of its gross domestic product and because of the current financial crisis, there are fears that one way of solving the problem will be selling  off parts of its precious coastline...

Starting from February 2009,foreigners will have the same property buying rights as croatian nationals. This news has resulted in fear amongst Croatians that the most attractive part of their coast will be boght up by outsiders.

The current law states that forigners can buy real estate on the basis of reciprocity, meaning that the requirement is that his/her country also has an open real estate market, or that real estate can be bought if the foreigner has a company. 

Since July 2006, the Croatian authorities received 8,122 requests from foreigners for permission to buy real estate. During the previous nine years, only 3,553 permits were granted. Germans and Austrians submitted the most buying requests.