Since
Slovenia joined the EU the complicated process of obtaining
permission from the Ministry of Justice has been swept away
and the real estate market is free of legal restrictions for
EU citizens.
However one caveat remains; Slovenia may resort
to a general safeguard clause provided for in Article 37 of
the Accession Treaty for a period of up to 7 years after the
time of accession that would allow them to reapply restrictions
on purchases by non-nationals.
Slovenia is really only for those who are
able to finance their own purchase. At present we do not know
of any UK firms offering mortgages in Slovenia. But before
you even think of buying, really get to know the area you
want to live in and think about how you are going to get there
and the transport and other infrastructure once you are there.
Consider how much time you want to spend renovating
a picturesque property in the countryside or whether you would
rather buy a fitted out apartment and be out enjoying the
wonderful scenery and lifestyle!
Factor in how you would deal with an emergency
especially when you are out of the country - would you be
better off having a management company looking out for you,
as well as delivering services such as heating the property,
doing the laundry and taking delivery of post and packages.
Once you have made your choice, ask your lawyer
to submit an offer in euros based on what you can really afford
taking into account all the extras such as tax (varies between
8 and 20% depending on the type of property), translation
costs, bank costs, currency transfer costs and of course,
furnishing and equipment. Generally speaking, fittings in
Slovenia are of a comparable cost to the UK but labour (carpenters,
electricians, etc) is relatively cheaper.
If the offer is accepted, you must make an
application for an EMSO number (a number that Slovene citizens
are given at birth) and perform land searches. Land registry
searches in Slovenia are a modern wonder and can usually be
provided within 2 working days. Where else in the world can
they be done at such speed?
Now you can talk to your bank in the UK about
the different possibilities of moving money across to Slovenia
including using forward contracts in euros. Transfers into
Slovenia are becoming easier now that it is part of the EU.
Translate all documents including the contract,
the details from the Land Registry, any management contracts
and all insurance policies. Read through them with the guidance
of a lawyer. Unusually to us in the UK the same lawyer often
acts for both parties but that is a choice for you!
You will need to open a bank account in Slovenia
for all those standing orders (utilities, management charges,
cable TV and so on)! A good relationship with a Slovene bank
will make all this very simple.
And finally, once you and your lawyer are
satisfied sign the contract in both languages and break open
the champagne!
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