Croatia is becoming more popular with people looking to move abroad. With its stunning coastlines, rich history and low cost of living, overseas property and finance expert Simon Conn is receiving more enquiries than ever before.
With its slower pace of life and value for money, Croatia is a good place to consider for a new life or a second home. Located in the Balkans, a large part of the country stretches along the coastline on one side, with neighbouring countries including Slovenia, Hungary and Serbia.
Croatia became an independent sovereign state in the early 1990s, when Yugoslavia disbanded, and there is currently a population of just under 4.5million. It is considered to be a welcoming location for ex-pats and if you’re looking to get more for your money, the cost of living there is much lower than many other countries in Europe.
The currency is the Kuna and the main language is Croatian, although English is one of the most common second languages.
Much of inland Croatia is mountainous and hilly and the country is home to an impressive eight national parks, as well as lakes and mountains. The country has an interesting cultural heritage and one of the oldest town halls in Europe. If you’re a fan of architecture, many of the churches, museums and galleries are on the UNESCO World Heritage list, and the palace built by the Roman Emperor Diocletian is worth visiting too.
Although Croatia has a more relaxed and slower pace of life than the UK, there are still plenty of activities for the more active and adventurous to try. Popular pastimes include sailing, diving, cycling and mountain climbing.
If you’re emigrating, but not ready to retire, you may want to settle in or near the capital, Zagreb, which is home to many businesses, education centres, arts and culture. Shipbuilding is also a big industry and popular exports include food, wine and lavender.
Croatian beachfront properties are good value and considered to be some of the best in Europe. A well-known region is the Dalmatian Coast, which has warm summers and mild winters. There are in excess of 1,000 islands on this coast, with Brac being particularly popular.
Istria is also a great place to settle and has been compared to Italy because of its towns nestled in the hills, seaside villages and wonderful beaches.
If you want to live in Croatia, you will need a visa and the three categories are short term, temporary or permanent stay.
There is no minimum mortgage or purchase price in Croatia. The maximum size of the mortgage and the purchase price are determined by the regular monthly personal income which the client discloses in the mortgage application process.
The maximum loan to value is 70% and interest rates are available at 5% per annum. Non status/self-certified mortgages (offered by lenders where proof of income is not required) and buy to let are not available in Croatia.
This article was first published here: http://blog.primelocation.com/2014/10/14/buying-property-overseas-in-croatia/