November 1, 2022 - Real estate expert Sanjin Rastovac spoke on the show Točka na tjedan about buying agricultural land in Croatia, commenting on the current situation, foreigners' buying rights, and the prices.
As N1 writes, until now, foreigners could only buy land if they opened a company in Croatia, and from July 1 of next year, they will be able to buy without restrictions.
He added that it would be much simpler and everything will become easier after officially entering Schengen Area.
"There is interest from foreigners, mostly from larger corporations. On the other hand, it is not profitable for local people to have a small amount of land and cultivate it without subsidies", said real estate expert Rastovac.
He pointed out there will be great interest in solar energy, especially in Zagora and Slavonia, because of agriculture and farming.
He points out that Croatia is still the cheapest in the EU regarding land prices, at around 3,400 euros per hectare of arable land. While, for example, in Slovenia, the average is 20,000, and the most expensive is the Netherlands with 70,000 euros. "We can expect a lot of foreigners," he concluded.
When asked if there will be a selling of the ancestral property, he said that it has already happened more or less, especially in Slavonia, and he believes that it could increase.
"The euro is coming, and we are entering Schengen, so it will be easier for people to come. "Istria is the area of greatest interest because land there is the cheapest, and so is the Primorje-Gorski Kotar County," said Rastovac.
There is a lot of interest, he added, in the continent as well, and it is likely to grow. He also commented on the real estate market and the impact of interest rates.
"When interest rates rise, a lot more money is needed, so it is to be expected that there will be fewer buyers. Real estate is our favorite means of investment, but with the new increase in interest rates, we are entering a new cycle," Sanjin Rastovac finished.
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