Nestled in the heart of the Croatian island of Korčula, lies the charming town of Blato, a place defined by its rich history, spectacular landscapes, and luxury lifestyle. Established in the 17th century, Blato is home to various historical structures, like the Parish Church of All Saints and the noble Captain's palace, preserving stories of the town's intriguing past. Geographically, Blato is situated amidst lush vineyards and olive groves, offering eye-soothing green expanses and paving a perfect path to the Adriatic Sea. Its central island location places it conveniently amidst the serene Mediterranean environment while retaining easy proximity to other integral parts of Croatia.
The Exclusive Property Market in Blato
Blato's real estate panorama is currently stable, reflecting a harmonious balance between the demand and supply of luxury properties. Boasting an assortment of sumptuous villas, high-end apartments, and spacious homes, the property market here is thriving, appealing mainly to those who appreciate the blend of luxury with tranquility. Reliable political and economic equilibrium of Blato further enhances the attractiveness of the locality for prospective buyers.
In Blato, the real estate commission for buyers is typically around 3%, while sellers can expect to pay approximately 3%. When buying a luxury home, additional costs such as transfer tax, realtor commissions, notary fees, possible construction inspection, and legal costs should be considered. The transfer tax on private property in Blato is approximately 3%.
Taxation Insights
Properties form an important part of the wealth for the residents of Blato, attracting a wealth tax. Regarding the disposal of properties, if a privately owned home or apartment is sold, taxes on profit depend on whether the property was a main residence or a vacation home.
Registered businesses in Blato are subject to a corporate tax on profits. However, for registered residents, income tax rates are decided based on income brackets.
Mortgage and Financing in Blato
Mortgage requirements in Blato typically hinge upon the ratio between personal and foreign capital and income mandates. Lenders usually issue mortgages up to 80% of the purchase price, given due compliance with their criteria.
Elite Residential Neighborhoods and Accessibility
The most exclusive areas in Blato are the coastal neighborhoods offering uninterrupted sea views, like the Prigradica and Gršćica areas. Blato enjoys excellent accessibility through well-maintained road networks and marinas facilitating sea travel. The nearest big city is Split, which is approximately 2 hours away. Blato also lies within a manageable distance from both local and international airports, including Split Airport.
Blato's Academic Infrastructure and Population
Blato's population is around 4,000 residents and is known for its educational institutions including Blato Elementary School and Korčula State High School.
Environment and Climate
The landscape of Blato is a delightful mix of verdant nature and mesmerizing water bodies, marked by a mild Mediterranean climate.
Sporting and Recreational Amenities
Blato offers numerous sports and outdoor activities, including water sports, cycling, and hiking. For the luxury lifestyle enthusiast, Blato offers boutique shops and high-end dining restaurants. The town is also home to some notable hotels including Hotel Aminess Lume.
Cultural Attractions and Public Infrastructure
Blato regularly hosts cultural, historical, and sporting events, with the traditional sword dance – Kumpanija, being the most noteworthy. Art aficionados can visit the beloved Blato Town Museum - a testament to the town's rich history.
Healthcare facilities are also well-distributed in Blato with good public infrastructure and amenities, ensuring an exclusive and comfortable lifestyle. With its mix of scenic beauty and luxury, Blato indeed is a jewel of Korčula island that guarantees a luxurious and peaceful living experience.
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