When considering whether or not to buy property internationally, American investors have a huge variety of options. For instance, property Slovenia residents are selling is legally available for most Americans to purchase.
According to a commercial treaty drafted in 1881, American investors can buy property in the Republic of Slovenia. They must carry out their transactions so that they are compliant under current Slovenian law. According to the original law, buyers must get a certificate of reciprocity from the Minister of Justice. Now, however, that requirement has been waived.
In order to purchase Slovenian property, investors will follow a procedure that is similar to the one that they probably use in their own countries. However, they will often find that this experience takes longer than it may in their own country. First, the investor will need to find a property that they like.
Then, they will need to contact a real estate agent, an attorney, and the property’s owner. These individuals will help the investor to draw up the right paperwork. They will also help them to ensure that they are performing their transaction legally.
After the papers have been filled out, the investor should take them to a notary public. This professional will endorse the documents with his or her seal. Finally, the documents will be sent to the Land Registry office. There, the transfer of the property will be recorded in the Land Book.
Advantages to Buying in Slovenia
In spite of the long process involved in buying property in Slovenia, most investors find that there are many advantages to buying property in this country. According to many estimates, Slovenian real estate is expected to experience close to 285% growth over the next decade. However, the amount of money that each investor makes will vary depending upon which type of property the investor buys.
Where to Buy
Once an investor decides to buy property in Slovenia, they will need to decide where they would like to start shopping. Although Slovenia is a relatively small country, it offers a lot of options for investors. Investors who like Prague may be intrigued by the country’s capital city Ljubljana. However, there has been a recent shortage of quality houses in this area, and prices there are higher than in some other areas.
Investors who would like to try another large city may start shopping in Maribor. If they would prefer to tap into holiday spending, they may wish to purchase something in Bled which is a popular resort town. For homes in the alpine valley, shoppers may wish to look in Bohinj.
There is a lot of property Slovenia residents are selling. For many reasons, investors stand to make a solid profit off of many of these properties. The process may be long, but according to most estimates, the rewards are worth the wait.