Slovenia has emerged as a very popular destination to buy investment property and holiday homes and with capital gains of 30% per annum being achieved for certain properties it has caught the eye of quite a few savvy investors.
Of course, if you wish to purchase property you need a realtor to help you and there are many Slovenian Realtors to choose from and here we will look at choosing one to help you get the best property for you.
Here are some general pointers for choosing a Slovenia realtor in terms of purchasing a property or looking for a short or long term rental.
1. Don’t use inlicensed “agents”
There are a few “middlemen” selling real estate in Slovenia, however most are not regulated or licenced, therefore you should only deal with a licensed and regulated realtor that is based here in Slovenia. This means their business operations are regulated by Law, which ensures that you will receive the best service and pay the same price which a local buyer would pay, also fees and costs for services and transactions are transparent.
2. Find a Realtor That Knows Slovenia
Many middlemen are simply interested in selling their own properties – these may not be the best ones for you.
Find a realtor that knows the areas they sell in, check how long they have been in business and have a good knowledge of the area you are buying in.
3.Your objective and Your Location
Think about…are you buying a property for capital gains, rental income, or perhaps a mixture of both?
If your aim is to rent out the property, it’s important that the area attracts tourists and you can optimize any rental income from the property.
In summary, make sure you do your homework for your visit. – this will obviously save you money in the long run and make sure your property suits your investment aims longer term.
4. The Buying Process and Finance
Purchasing a Slovenian real estate will take around on average 2 months to complete, you can expect a shorter time period for apartments.
Once you have found the real estate you wish to buy you will be required to pay a 10% deposit which if the seller backs out of the sale (for any reason) will be returned to you, but doubled, under Slovenian law.
If on the other hand, you withdraw, the seller will keep the 10% deposit.
Mortgages on Slovenia real estate are now available to foreign nationals, contact us for details
When you have found the property you wish to buy you will need to have your passport; your realtor will then apply for a tax number for you as well as an EMSO number, both of which are required to complete a real estate transaction. This should only take around a week to come through.
It is also wise to open a bank account in Slovenia, this will enable you to pay all your local bills and costs easily when you’re out of the country.
Bank Accounts can be set up on the day and require a passport as proof of ID.
Management Of The Property
You can also get Slovenian realtors who offer a management service.
This can include finding renters for your house or apartment, to making sure the property is ready for guests. Many realtors will also take care of ongoing maintenance of the property on your behalf.
Slovenia is indeed a beautiful and attractive overseas investment destination and if you choose the right Slovenian realtor they can provide you with a wealth of local knowledge. This will help you get the real estate that fits your investment objectives and your budget and maximizes the possible capital growth.
Choosing the right realtor is essential when purchasing real estate in Slovenia so make sure you do your research and find a company that has the knowledge and expertise to help turn your investment onjectives and any personal desires into reality.