Buying and managing a property in Croatia from abroad...

Hello Hajduk.

Welcome to Expat.com

Perhaps this thread might help > Buying property in Croatia.

Thanks and all the best.

Karen

Thanks for the warm welcome Karen.

I have actually been a member and lurker on here for almost 4 years.  I can't believe that this is my first post.

Thanks for the link.  There is some very helpful information on there.

Pleasure reading your post. My love for the Dalmatian coast is undeniable. Although I have no Croatian blood I applied and obtained my Croatian passport 5 years ago at age 37. I was able to do so because my mother married Croatian when I was 4 years old and he legally became my father. I went to school there and lived in Tucepi, right next to Makarska. What a gorgeous place. Makarska Riviera is by far the most beautiful part of the Adratic coast. At the age of 12 my mother had had enough of the traditional Croatian marriage and we headed back to the states. You have to understand that at that time the men ruled the home in most Croatian households and my mother was not putting up with that. I understand why we bailed but the love for what I consider my country never waivered. My girlfriend and I visit every year and also plan on moving there ASAP.

This leads to your question. Don't even consider a mortgage in Croatia. No such thing as fixed rate for set amount of years. Lenders can raise your interest rate whenever they please. Hence the reputation of being one of the most corrupt countries in the world. It is just reality. It is the good old boy network for sure. I have a ton of locals there that are my good friends. I would trust them with my life and when they routinely reference
routine transactions and business there as the wild west I certainly believe them.

I am planning on purchasing there within the next 3 years but paying in cash. That is the only way to go. The Croatian coast is an absolute gem. My heart beats differently when I am there. I will end up there one day.. Tough part is  spending that much money when at this point in my life I am lucky if I spend 3 weeks there a year. Moving there without significant savings is very risky. Unemployment is very high and even if you do get a job it will be a fraction of what u can make in US or Canada. Plan wisely and if you do start a business better make sure it is a good one. All the best.

Thanks for the advice regarding lending policies in Croatia Lauried.  That is helpful.  I know corruption has always been "normal" right down to the street level, but regarding actual policies; are these not things that had to be standardized upon joining the EU?

Don't get me wrong, I do not have illusions of making it rich in Croatia by starting up a business there.  In all honesty, I would rather just get by in Croatia and be happy around family than be isolated in Canada, but financially better off.  After my folks passed away, my sister I are alone here while we have a fairly large family stretched from Bosnia and Croatia to Slovenia.  Wealth is nothing without family.  I know it's difficult for some people to imagine giving up financial security in a country like Canada for a less sure thing in Croatia.  Those same people probably have numerous family events (birthdays, Christmas dinners, weddings, baptisms, etc...) throughout the year that keeps them attached and don't know what it is like to be almost completely on their own.  There are more important things than money.

I do make a decent living in Canada, which allows me to spend up to a month in Croatia every year and I am not completely ready to give that up which is why I would want to manage the property remotely (or delegate it to a management group).  I still have a means to an end here.  The idea of starting up a business one day is a distant dream (like just before I retire).

Great to hear your take on things. I could not agree more. By the way Laurie is my girlfriend, I am just posting under her. I generally do not do this social media stuff but your post struck us and Laurie pointed it out to me.

We have the same outlook on things. Money is certainly not our priority, happiness is. We are just trying to do everything right, living well bellow our means here in order to set ourselves up for life in Croatia. Property is certainly the most expensive component and just like you at this point in our lives it is just not practical to spend 150k on a 50-55 sq meter condo if we can only utilize it  2-3 weeks a year. Especially when you have friends whom you can stay with for free during the 2-3 week visit.

Our plan is to put ourselves in a position where we can live there for 4-5 months and live and work here the remainder of the time. As much as I love Croatia I know how things are after the tourist season. Extremely quiet and one can get bored quickly. So if we can enjoy the best of both worlds this would be ideal.

Croatia joining the EU certainly tightened the ropes a bit but don't think for a second that it has now transformed into Switzerland. If you are able to get a mortgage with a fixed rate please let me know. We have looked at properties in Makarska and are very aware of the local dealings. They are slowly cracking down on owners building additional levels on their homes. One might purchase a condo thinking you will have that gorgeous sea view forever only to return the next year and stare at the back of your neighbors house because they illegally added another floor to their home. This very thing happened to our friends. When we were there in June we asked "what happened to your view". They just shook their heads and stated that the neighbor knows the local judge and somehow miraculously will end up with a permit to build. Keep in mind , this is after it ihas already been built. I would go ballistic if this happened to me. Unfortunately, this is common there. Nothing about joining the EU changes that. This will take generations my friend.

Bok!

Good on you for wanting to come 'home'!

I live in the Zadar area, and whilst I do not know of anyone personally. If you like I can ask around for some suggested companies.

If you like, you can reach out to me via the below link

SJ
chasingthedonkey.com

hi
May I suggest you get in touch with Adriatic services. They are a agent who sell and rent properties. They also have a department that deals with people who are not from E,U.
I know this as I am tring to sell my property in Zagreb. Several buyers? have been from outside E.U. and my reshearch has led me to them.
i do NOT work for them
Best of luck
Rob

Thanks sjbegonja and zageb423.

zageb423 wrote:

hi
May I suggest you get in touch with Adriatic services. They are a agent who sell and rent properties. They also have a department that deals with people who are not from E,U.
I know this as I am tring to sell my property in Zagreb. Several buyers? have been from outside E.U. and my reshearch has led me to them.
i do NOT work for them
Best of luck
Rob

Thanks, I think I will look them up and see what they have to say.  Do you know the full name of the company or if they have a website?  I looked up "Adriatic Service", and it seems to deal mostly with yacht related queries. 

adriaticservices.hr

Is it "Adriatic Real Estate" by any chance? 

adriaticrealestate.net/en


I appreciate all the input.

Thanks again.

Hi
Adriatic property services.
Hope useful
Rob
let us know how things go. You looking for on coast or in zagreb area

zageb423 wrote:

Hi
Adriatic property services.
Hope useful
Rob
let us know how things go. You looking for on coast or in zagreb area

Thanks.

I am looking mostly at the coast.  My cousin's family has a summer place in Sibenik so the hope would be that we could spend time in the same area on holidays.  Personally, I am partial to Zadar and am keeping an open mind about anywhere between Zadar and Korcula. 

As for Zagreb, I have thought about it and am not totally against it if I found something nice and it was a good deal.  I always tell tourists that if they only go to Croatia and see the coast, they are missing out.  The majority of my family there lives away from the coast, so Zagreb would be a nice central location in that regard.  It would have to be close to Jelačićev trg so that it would get some interest as a rental though.  I do keep Zagreb on my radar.