Tuesday, 1 November 2022

Foreigners to be Able to Buy Agricultural Land in Croatia, Talking Price

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.

For more, make sure to check out our dedicated Lifestyle section.

Monday, 3 October 2022

Croatian Arable Land Prices Increase Significantly in Short Time

October the 3rd, 2022 - Croatian arable land is yet another thing that has seen its worth massively increase in a relatively short space of time. While property of all kinds across the country has seen price hikes, the price per hectare of arable land has done quite the leap.

As Poslovni Dnevnik writes, the average price of purchased Croatian arable land last year stood at 27,595 kuna per hectare, which is 1,665 kuna more than it was the year before, according to data from the State Statistics Office (DZS) published on Wednesday.

The aforementioned statistics also show that back in 2021, the average price of purchased meadows was 18,204 kuna per hectare, which is 915 kuna more than it was the year before, and pastures costed 18,516 kuna or 2,865 kuna more.

In Pannonian Croatia, the average price of purchased arable land was 27,869 kuna, meadows came with a price tag of 19,276 kuna, and pastures totalled 11,557 kuna per hectare. Compared to just one year before, the average price for the purchase of Croatian arable land increased by 1,453 kuna, meadows by 408 kuna and pastures by 837 kuna per hectare.

The average price of purchased arable land in the Adriatic part of Croatia stood at 40,793 kuna per hectare, which is 7,153 kuna per hectare more than it was back in 2020, meadows came with a price tag of 16,456 kuna or 2,499 kuna more, and pastures were 25,313 kuna per hectare or 4,890 kuna more than they were sold for back in 2020.

In Northern Croatia, the average price of arable land was once 23,872 kuna per hectare, meadows costed 19,021 kuna, and pastures came at a price of 17,111 kuna per hectare. As such, the average purchase price of Croatian arable land was 1,354 kuna more, meadows were 40 kuna more and pastures had seen an increase of 125 kuna per hectare.

For more, make sure to check out our dedicated business section for more on Croatian land and property prices.