With its rich cultural heritage, kind locals, and breathtaking natural beauty, Slovenia continues to be an attractive destination for investors looking to venture into real estate. However, purchasing property in this country can be a hassle, given the complex regulatory and legal requirements that must be met.
But have no fear! In this guide, we will explain the process of acquiring real estate in Slovenia to make buying your ideal house easier.
Can a Foreigner Buy and Own Property in Slovenia?
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Several regulations exist in Slovenia to guide foreigners who want to make real estate transactions. Alongside the rules, the reciprocity principle is applied. That means investors from nations that permit Slovenians to acquire real estate there can buy property in Slovenia.
Citizens of European Union countries can purchase houses in Slovenia while adhering to certain rules. It is worth mentioning that investors from non-EU countries may be required to fulfill tougher requirements. For example, They might be asked to apply for special approval or permit from the relevant Slovenian authority.
Furthermore, it is easier to buy residential properties than to acquire agricultural land in Slovenia. The Slovenian government implements stringent rules on transactions involving farmland to guard domestic agriculture. So, foreigners looking to buy farmland must prove that they’ll embrace agricultural activities before getting a permit.
That said, consulting with real estate or legal experts in Slovenia to guide you through the requirements for buying property is vital.
Can I Become a Slovenian Resident by Buying and Owning Property?
Becoming a resident in Slovenia via owning a house is a topic that most foreigners are interested in. Unlike some other European countries, Slovenia does not guarantee foreign nationals that they will automatically become residents after buying properties.
While owning a Slovenian property doesn’t grant the right to residency automatically, it boosts foreigners’ chances of having their residency applications approved.
Before securing a permanent residency, you need to apply for a temporary one. To obtain a temporary residency, you must provide proof of sufficient income to meet your needs and specify the reason for living in Slovenia.
The temporary residence permit usually expires after five years. Once it expires, you may become eligible for a permanent residency permit. Obtaining this permit increases the likelihood of securing Slovenian citizenship. Note that you must renounce your previous citizenship to become a citizen of Slovenia.
The Slovenian Real Market
The GDP per capita indicator shows that Slovenians have become 10.6% richer in the past five years. This has boosted their purchasing power, causing the demand for real estate to grow significantly.
Data from Numbeo indicates that property prices in Slovenia have surged 8% since 2023. Furthermore, rental properties are reported to offer average yields of 4.5%.
Where to Buy Property in Slovenia
If you plan to live in a city, then exploring properties in Ljubljana is recommended. This place hosts top companies and a cultural center. The average housing price in Ljubljana is $3,400 per square meter.
Is your budget tight? If so, you can explore houses in Celje. This historic town offers properties starting from $1,300 per square meter.
Other areas you can consider exploring include Novo Mestro, Piran, Bled, Kranj, and Maribor.
How to Buy a House in Slovenia
Follow these steps to acquire your dream house in Slovenia:
1. Get in touch with a Slovenian real estate agent.
2. Share the specifications of your ideal property with the agent.
3. Explore the options provided by the agent and pick one.
4. Ask the real estate agent to organize a site visit.
5. Go to Slovenia and survey the house with the help of a qualified surveyor.
6. Consult with the real estate agent and send your initial bid.
7. Negotiate with the seller. Upon agreement, sign the sale contract.
8. Make a down payment and submit the sale contract and other documents tied to the property to the land registry.
9. Receive a deed bearing your name and transfer the remaining balance to the seller. You must also pay the imposed taxes.
After that, you can move into your Slovenia property.