Buying Property in Slovenia

If you're looking for lucrative real estate investment opportuniteies than buying a property in Slovenia seems to be a very good idea. Being one of Europe's most dynamic countries with prospering economy and stable political system and Slovenia is becoming a more and more attractive property investment destination.

Many people (especially those living in overseas countries) doesn't even know that a country named Slovenia exists and it's often confused with Slovakia.

This will change soon I think because such a diverse and beautiful country cannot be kept secret for a long time. The good point is however that if you plan to make a long term investment than buying a property in Slovenia is very timely and it has many advantages. Soon the number of tourist visiting Slovenia will explode and they'll need accommodation, private rooms, apartment rentals.

If you buy property now at one of Slovenia's tourist hot spots, an apartment, condominium in Ljubljana, Maribor a villa in the seaside towns, or a mountain chalet in the Julian Alps in the Triglav National Park, you can rent it out to the flock of tourists who'll be visiting the country over the years. There're few other investments that offer similar low-risk and rewarding returns in long term.

Process of Buying Property in Slovenia

Joining the EU (Slovenia is EU member since 2004) made property buying process less complicated. Within a month you can be the owner of a nice Slovenian house or apartment.

First of all think about what sort of property you'd like to own in Slovenia. Make a list of all the possible locations (Ljubljana, the picturesque northeast alpine world in Gorenjska, the peaceful Prekmurje region). Find out more about the certain regions in Slovenia.

Think about whether you want a newly built fully-fitted apartment or a country house that needs renovation?

Once you've found the property you want to buy you need to pay a 10% deposit (the double amount will be paid back to you in case the seller changes his/her mind about selling the property, but if you back out than the seller keeps the 10%). A contract will be drawn up of which a legally binding translation is prepared. You have to apply for either a tax number or for an EMSO number which functions as a social security number but it's only a formality. it also helps if you have an account in a Slovenian bank, you can open one once you have an EMSO number.

It's best to hire a local English-speaking lawyer to read through the contract and check everything is OK. Then the seller, the buyer and an authorised notary sign the contract.

All the necessary documents will be sent to the local land registry office and the property will be signed over to the buyer (this takes about a week). The next step is to balance the price of the property after you receive confirmation about the transfer.

Additional costs of the purchase (tax, fee of the lawyer, agency fee) are around 2-5% of the price of the property.

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Property Prices in Slovenia

Real estate prices are expected to increase in whole Slovenia in the coming years so the sooner you decide on your real estate investment the more you can save.

For example apartments in Ljubljana sell for cc. 2500-3500 € /m2. Luxury apartments have higher price tags: 5000-8000 €/m2.

You can buy spacious villas in the two famous lake resort areas, Bled and Bohinj for cc. 200, 000-500,000 €, while centrally located apartments (45-70 m2)in this area cost cc. 150,000-180,000 €.

You can get a house on the Slovenia coast for 200,000-300,000 € or less. Luxury villas near the beach cost more (500,000-700,000 €).

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Choosing a Real Estate Agent in Slovenia

To save time and to accelearte the process of your Slovenia property buying I recommend that you choose a knowledgeable local real estate agent. Here are some advice to consider when looking for an estate agent:

• with a local, lisenced real estate agency you'll have a high chance that they're know regions of Slovenia very well and they can tell you the pros and cons of buying property in a certain area. A licensed real estate agency has to stick to certain rules and legislation that further ensures you'll be satisfied their service.
  
  
• if you already have a clear idea about the purpose of buying property in Slovenia (rental income, long term investment) tell the agency and they'll do their best to select real estate for sale that matches your buying criteria.

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