House in Makarska

🇭🇷 Houses in Makarska, Split-Dalmatia: sea views, Biokovo access, pebble beaches

Makarska, situated along the glittering Adriatic coast in Croatia's Split-Dalmatia County, is not just a plot on the map—it's a vibrant city characterized by stunning natural beauty and a lively atmosphere that attracts buyers from every walk of life. With its Mediterranean climate, a rich cultural tapestry, and developing infrastructure, this coastal jewel offers a wealth of opportunities for individuals looking to buy a house. Whether you're a private buyer seeking a second home, an investor eyeing lucrative rental prospects, or a family planning a relocation, Makarska presents compelling reasons to explore the housing market.

🌍 Characteristics of Makarska Influencing the Housing Market

Makarska is beautifully positioned between the Biokovo Mountain range and the azure waters of the Adriatic. This unique geography not only provides stunning landscapes but also influences the climatic conditions, offering 300 days of sunshine a year. Residents enjoy mild winters and warm summers, promoting outdoor lifestyles that are particularly attractive for family life and seasonal tourism.

The city's transport infrastructure is another critical factor driving demand for housing. The proximity to the Split-Dalmatia County's major transport hubs, such as the Split Airport, makes travel convenient for homeowners and renters alike. The city is well-connected to major Croatian cities via the A1 highway and local bus services, facilitating both day-to-day commutes and travel opportunities.

Moreover, Makarska's urban housing market is divided into several districts, each offering a unique lifestyle. The town center is well-known for its bustling promenade, shops, and restaurants, appealing to those seeking vibrant urban living. In contrast, areas such as Blaće and Mali Ston provide a more serene atmosphere, ideal for families and retirees. The lifestyle features, combined with robust infrastructure, shape a diverse real estate landscape that caters to various preferences.

💼 The Economy of Makarska: Impact on the Housing Market

Makarska's economy thrives primarily on tourism, which significantly bolsters the local real estate market. The city attracts over 1 million tourists annually, drawn by its natural beauty, historical landmarks, and vibrant nightlife. This influx leads to a rising demand for rental properties, making the purchase of a house an attractive investment opportunity for those considering it as a secondary residence or a rental property.

Additionally, Makarska has a growing small business sector that supports local entrepreneurship and fosters economic stability. Factors such as low operational costs and a favorable tax environment make it appealing for businesses to set up shop in the city. This thriving economy fuels interest in property investment as local job opportunities increase demand for housing.

The tax burden in Croatia is relatively low compared to many European countries, encouraging foreign investments. Buyers can benefit from a simple tax structure, which includes a 3% property transfer tax and the possibility of further deductions when renting out their property. These economic features contribute to a liquid housing market, which enhances the potential return on investment for those buying houses in Makarska.

💰 House Prices in Makarska: What to Expect

When considering buying a house in Makarska, it’s essential to understand the price landscape. The average price of a house in Makarska varies by location, size, and condition. Generally, prices start from around €150,000 for smaller, older properties and can exceed €1 million for more luxurious selections, particularly those with sea views.

Here’s a breakdown of house prices by district:

• Town Center:

  • Avg. Price: €300,000 - €600,000
  • Characteristics: New developments, proximity to amenities.

• Blaće:

  • Avg. Price: €200,000 - €400,000
  • Characteristics: Residential area with parks and schools.

• Mali Ston:

  • Avg. Price: €250,000 - €500,000
  • Characteristics: Coastal homes with stunning views.

• Dalmacija:

  • Avg. Price: €180,000 - €350,000
  • Characteristics: Ideal for family living with good public transport.

The market dynamics indicate a steady increase in property values over recent years due to rising demand and limited supply, particularly in desirable neighborhoods. This trend points towards a positive long-term return on investment for both private buyers and investors.

🌆 Key Districts to Choose for Buying a House in Makarska

Choosing the right district is crucial when buying a house in Makarska. Each district has unique advantages, making it essential to match location preferences with lifestyle needs:

• Town Center:

  • Advantages: Central location with supermarkets, cafes, and restaurants.
  • Ideal for: Those who want vibrant city life and easy access to amenities.

• Blaće:

  • Advantages: Family-friendly with schools and playgrounds nearby.
  • Ideal for: Families looking for a quieter atmosphere while being close to urban conveniences.

• Mali Ston:

  • Advantages: Set in an historic area known for seafood and local culture.
  • Ideal for: Buyers interested in authentic Croatian lifestyle and culinary experiences.

• Dalmacija:

  • Advantages: Close-knit community with local shops and parks.
  • Ideal for: Those seeking a slower pace and a more residential feel.

Investors can find significant rental demand in each of these neighborhoods, catering to tourists and long-term residents alike.

🏗️ Leading Developers and Projects in Makarska

The housing market in Makarska is supported by reputable developers who bring innovative designs and quality construction to the area. Notable developers include:

• Kinan d.o.o.:

  • Focuses on sustainable building projects.
  • Projects include various residential developments with modern layouts.

• Luka Group:

  • Known for premium waterfront properties.
  • Offers properties with state-of-the-art amenities and panoramic views.

• Adria Luxury Estates:

  • Specializes in high-end real estate.
  • Projects often include villas and luxury homes with customized finishes.

Properties are designed to include modern infrastructure and often feature amenities like pools, gardens, and private parking. Price structures vary widely depending on location, amenities, and levels of completion, providing numerous options for buyers.

💳 Mortgage and Installment Conditions for Foreigners in Makarska

For foreign buyers interested in financing their property, the option to obtain a mortgage in Croatia is available. Local banks have become increasingly accommodating toward foreign investors, albeit with certain requirements. Typically, the following applies:

• Rates: Interest rates for mortgages usually start around 3% annually.
• Down Payments: Foreign buyers are generally required to make a down payment of 20% to 30% of the property's price.
• Requirements: Valid residency permits or proof of income may be necessary.

Some developers also offer attractive installment plans, known as developer installment plans in Makarska. Buyers can benefit from financing options that allow them to pay in phases as the construction progresses, making the process more manageable:

• Plan Duration: Installment terms can range from 1 to 4 years.
• Payment Schedule: Typically involves an initial deposit followed by payments at various construction milestones.

📜 Step-by-step Process of Buying a House in Makarska

Buying a house in Makarska is a structured process that involves several key steps:

1. Selection: Begin by researching available houses and identifying your ideal neighborhood.
2. Reservation: Once you’ve found a property, a reservation fee is required to hold it while you conduct due diligence.
3. Due Diligence: Verification of property ownership, legal encumbrances, and compliance with local regulations.
4. Contract: Upon completion of due diligence, a purchase agreement is drafted. It’s advisable to work with a notary to ensure legal compliance.
5. Payment: Arrange payment according to the agreed-upon terms.
6. Registration: Register your property with the Land Registry, finalizing the purchase.

Legal and technical specifics must not be overlooked. Each transaction incurs costs such as notary fees, registration fees, and potential legal advice, which total approximately 5-7% of the property price.

⚖️ Legal Aspects of Owning a House in Makarska

Ownership of a house in Makarska comes with specific legal responsibilities. Here are the key points to consider:

• Rental Rules: Property owners are permitted to rent their houses to both locals and tourists, although regulations may vary from district to district.
• Property Taxes: Taxes on real estate generally hover around 1% to 2% for most homeowners, with additional local taxes applicable.
• Necessary Permits: If renting out your property, you may need to obtain a permit from the local authorities.
• Residence Permit: Purchasing property in Makarska can grant foreigners the right to apply for a residence permit, especially for investments above a certain threshold.

These legal considerations, combined with an understanding of the local housing market, are vital for prospective buyers.

🏠 Optimal Uses of Buying a House in Makarska

The versatility of property in Makarska makes it suitable for various purposes:

• Living: Ideal for families or individuals starting a new life chapter.
• Relocation: Offering a favorable climate and lifestyle, it's perfect for anyone looking to settle down permanently.
• Seasonal Residence: Invest in a getaway home that provides a serene retreat nearly year-round.
• Rental: With steady demand from tourists, buying a house for rental purposes can yield attractive income.
• Investment: Many investors purchase houses in Makarska with hopes of value appreciation or securing a future retirement plan.

The right district combined with the ideal property type can cater to a range of goals, whether personal use or as an income-generating asset. The future of the housing market in Croatia looks promising, promising enhanced opportunities for investment in the coastal real estate market.