If you’re searching for property for sale in Slovenia, you’re in luck because of the wide range of options waiting for you, including houses, apartments, and chalets, just to mention a few. And to make things even more exciting, most of these properties are in prime locations that look like they came straight out of fairy tales.
This buying guide gives you a quick look at the property market of Slovenia and what to expect if you’re planning to buy your next property in the country.
Prime Locations of Property for Sale in Slovenia
Bohinj and Bled are the two prime locations that buyers flock to every time they’re on a quest for a Slovenian property, and perfectly understandable. However, it’s important to remember that the properties in the areas are limited mainly because they don’t have large populations. So, expect that either the property will be expensive or worse, you might not find one in the first place.
Slovenian’s Adriatic coastline, on the other hand, has a length of fewer than 30 kilometers. As a result, the few seaside towns on the coast have experienced extremely high demand, increasing prices for the past few years. Make sure you have deep pockets if you’re dreaming of owning a property in these coastal areas one of these days.
If you’re searching for property for sale in Slovenia, you might consider a few seaside towns that have experienced extremely high demand for buying property in these coastal areas.
Meanwhile, the Prekmurje province is nestled in Slovenia’s far eastern side. The province was isolated from the other parts of the country for so many years because of the lack of bridges over River Mur, making the place somewhat a forgotten backwater.
Today, however, things have changed with good communications thanks to the construction of the motorway running through the country that extends beyond the Hungarian border. Prekmurje is a developing region that is seeing improvements at a quick pace.
Overview of Slovenia’s Property Market
Slovenia is a relatively small nation with just about 2 million inhabitants. As a result, people searching for a property for sale in Slovenia often discover a limited number of houses to purchase because of the lack of housing stock in the first place.
If you are buying a property in Ljubljana, you can find spacious multi-bedroom units, charming townhouses with unique architectural features, and modern houses with gardens or yards. Many people are drawn to Ljubljana’s charm and fantasize about owning a modern apartment or a traditional home.
Property prices in the country have also considerably increased in the past few years, particularly on and towards the coast. The supply of older properties in attractive locations that require renovation has also almost disappeared.
The good news is that some older properties are still up for sale in the eastern and central parts of the country. These properties require modernization; most of them come with a vineyard or some land. Just take note, however, that the costs of renovation have increased, as well as the prices of building materials.
The Registration Process
Before buying a property for sale in Slovenia, you have to get a tax number from the local tax office.
Several banks also require a tax registration number before you can open an account. You have to fill out a few forms and present your passport. There might be a language barrier if you’re not a local, so seek help from a real estate agent or a friend.
Banks and Financial Institutions in Slovenia
Banks in Slovenia are helpful and friendly. Many employees speak English, so you can expect straightforward discussions. Some banks can open an account for you and print all the conditions and terms in English in just a few minutes.
Banks in Slovenia are helpful; many employees speak English, so you can expect straightforward discussions. They can open an account for you and explain all the conditions and terms when you buy a property for sale in Slovenia.
Slovenian banks can also set up your account in various currencies. You can hold Euros, Sterling, and Dollars separately and shift between the currencies if necessary. The country’s banking system is also modern, with available cash points everywhere. Banks can also offer debit cards for payment of local accounts.
It’s also possible for foreigners to apply for mortgages. Although it’s not widespread, foreigners can likely arrange one soon.
The Border Controls
The border controls have since been removed after Slovenia became a member of the EEC. There are no longer travel restrictions between Slovenia, Austria, and Italy. The borders are also no longer manned.
The Croatian border is still under control despite the country being part of the EU. Passports still undergo checking, although custom controls have been removed.
Notaries
The lawyers and notaries in Slovenia seem to provide an efficient service.
If you were present at the contract signing for a property for sale in Slovenia, you would notice that the sale contracts are very straightforward, with the land registry seemingly functioning well.
Slovenian law requires the presence of an official translator in court to guarantee that the buyer has a complete understanding of the contract.
Translators are paid on the day in cash, while the notary can also be paid on the day. Either the seller or the buyer may pay for these expenses.
Taxes
The seller of the property for sale in Slovenia is responsible for paying a 2% government tax, similar to stamp duty. If you purchase a property and decide to sell it within ten years, you will have to pay the 2% tax as usual, and you will also have a liability for capital gains tax on your gain.
Today we are covering this unusual program in Slovenia that will give you a tax benefit after you buy a property for sale in Slovenia.
Of course, it will still depend on the tax regime in the country where you’re a tax resident. You might want to seek professional help for this concern. But if you’re the seller, the capital gains tax will be payable to the country. It is 20% of the gain. It lowers by 5% every five years until after 20 years when you no longer have to pay the tax. Capital gains taxes can be changed at any time by the government in power in all countries, which means that the situation may also vary in Slovenia.
