Buying property

Buying property

Find out how you can buy property in Croatia. The latest rules and conditions of purchase. Who can buy property as a natural person, who must open a business to buy a property. See more

What to buy?

What to buy

Consult with our experts to help you in making a decision, whether to buy a building plot, dilapidated house or a new and completed villa. Each option has advantages and disadvantages. See more

Renovate property

Renovate property

A team of experienced architects, engineers and builders will help you. Our professional staff will help you renovate, equip or build from the beginning according to your wishes and conditions. See more

Legal assistance

Legal assistance

It is difficult for you to find reliable and professionally qualified person, we have selected just such for your safety, which will make your decisions easier and safer. See more

All about currency exchange while buying property in Croatia

Croatia recently became a member of the European Union, and that’s why most of the real estate prices are in Euro. However, in practical, the country is yet to acknowledge Euro as it’s transactional currency, especially in the property deals. If you really want to buy the majestic houses or any other properties in this European land, then you can have to think about currency conversion standards. It will be an understatement to say that the currency conversion factor while dealing with the Croatian properties is not important.

Currency exchange while buying property in Croatia


Croatian Kuna is the legal currency used for making all monetary payments in Croatia, even when the amount is written in Euro on paper. It’s better to understand the complexity levels of having two currencies during any property deals than to suffer a loss no matter if you are a buyer or seller, especially if money is sent from foreign country.

The Croatian Kuna is applicable for transactions on any valuable assets within the national territory of the country. And this currency is subjected to inflation and deflation with respect to the exchange rates of other foreign currencies. Generally, the currency exchange values vary from the time of debit from the buyer’s account to the time of credit into the seller’s bank account. And as this time gap is not always constant, the currency exchange values remain variable, changing each time a transaction is made. This happens between the transfer of two local banks within Croatia itself.

However, if the money transfer is taking place from a foreign account of the buyer, in that case, the foreign currency is converted into Kuna in the local Croatian banks. These banks follow lower exchange rates and hence, the seller gets less money in his or her account. However, the buyer needs to spend more money in his currency in order to meet the price while buying a home in Croatia, thus impending a loss upon himself. That is why Broker real estate agency helps its sellers and buyers to get best conversions rates in banks and minimize difference when currency conversion is made.

To get the best rates for a house for sale in Croatia, the first thing that you can do is to open a non-residential account in any local bank within Croatia or consult with your real estate agency which bank to choose. Make sure you are showing the proper immigration documents if you are a foreigner with no Croatian citizenship. Once a bank account is opened in your name, if you didn't already, then you can hire a real estate agent and agree with the seller about currency conversion . Also, when buying a home in Croatia, you need to negotiate for lowering the price or buying the property when the rates will be lowered.

 

Added: 15.01.2019.

Category: CROATIAN REAL ESTATE INFO

 
ABOUT AUTHOR
Broker real estate agency

Marija Pavlic is a young girl with lots of potential, an inevitable carrier and the main connection of the communication channels within the agency. Responsive and well-organized, all work tasks accomplishes impeccably. Her pleasant voice will introduce you kindly to the interesting real estate world of Broker agency.

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Over 20,000 properties

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