If you are considering buying land in Istria then you understand why it is called Terra Magica, the magical land. The name makes reference to the green vast land in Istria enchanted with lush olive trees, rolling vineyards, and emerald green coastlines.
Location, Location, Location
There are various points to consider when purchasing land in Istria. The most important factor is location. Coastal urban cities with strong tourism such as Porec, Rovinj, and Umag, are the most expensive. The towns bordering these cities such as Versar, Fontana, Stinjan, and Medulin are in high demand and more affordable. Rural land is less expensive but can be more challenging.
Average prices for land in Istria fall into four general categories, note this is just an approximation based on advertisements. Prices are given in euros per meter squared.
- Rural remote 20-40 euro m² – isolated poor or limited access to utilities.
- Rural residential 30-60 euro m² – easy access to utilities, town or sea.
- East coast 50-70 euro m² – Rabac, Labin, Krnica, Rasa
- West coast 50-140 euro m² – Porec, Rovijn, Umag, Pula
For a large selection of advertised property in Croatia, try the most popular website for classifieds, Real estate – advertNjuskalo.hr
Building Permits Take Time
A few of the points to consider when choosing land in Istria include: location, laws governing usability, and access to utilities and roads. In Croatia, permits require time and patience as do construction schedules. To speed up the building process look for properties that have established electric, water, and sewage lines. It is possible to find land that has obtained building permits, but this will be reflected in the asking price.
Investigate the Title and Building Restrictions
Croatian laws and regulations can be complicated, it is advisable to hire a lawyer versed in property restrictions and acquisitions. To investigate laws governing building areas and plots consult the Spatial Planning and Development Act .
Not all land can be used for building purposes. The Agricultural Land Act defines farming, arable land, meaning only suitable for growing crops. According to regulation, agricultural land cannot be used for construction and can only be purchased by Croatian citizens.
Establish a Company in Croatia to Purchase Real Estate
The only way foreigners can buy real estate or agricultural land without restrictions is to purchase through a Croatian company. Citizens of all countries can establish a company in Croatia. As a result, the property will be owned by the company.
Principle of Reciprocity – EU Citizens verse Third Country Citizens
When Croatia entered the European Union, the laws opened to allow citizens of EU countries to purchase property in the same way as Croatian citizens. For those outside of the EU, including UK citizens, the principle of reciprocity applies. Check to see if your country has a reciprocity agreement with Croatia. The Ministry of Justice must approve the purchase for it to be final. Unfortunately, this process can take up to 6 months.
Laguna Marina Villas Offer a Hassle Free Investment
If your goal is to find land in Istria, near the sea in a rural environment and at a favorable price, then take a look at Candy Brick’s latest project Laguna Marina Villas. Click Home – Candy Brick Luscious Investment Properties in Croatia.
Avoid the hassle of learning property laws, filing for permits, or searching for reliable builders. Candy Brick takes care of all the details and has years of experience building quality properties in Istria.
Feel free to contact us with your questions.
Best regards, Ingrid Buic