New law for foreigners

Citizens of the European Union will be interested to know that the new real estate law in Croatia makes them equal to domestic population when it comes to buying real estate. The law will be in effect from February 1st 2009, which is less than two weeks from today.
This means that European buyers will from now on be able to buy real estate in Croatia without any of the previous limitations and special rules, which will now only aply to residents from other countries that are not yet members of the European Union. Up until now, foreigners were only able to buy real estate by founding companies in Croatia, which made the whole procedure much more complicated and time consuming. Well, from now on all Europeans can start investing in real estate in Croatia freely!
This may be the solution for the current situation at the market, which started to slow down to a point of standstill. In these times of crisis, the new law may prove to be just what it takes to light up the spark on the Croatian real estate market!

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