Nestled amidst the dazzling Adriatic Sea, Novalja is a jewel of Croatia's coast, known for its rich history, archaeological finds, and stunning natural beauty. This charming town, once a significant Roman settlement, is home to various historical sights including the Roman Aqueduct and Basilica Urbana. Located along the northern edge of the Island of Pag, Novalja offers magnificent views of Velebit channels and nearby islands. Its geographical loci affords both the tranquility of island living and easy connectivity to the mainland.
State of the Luxury Property Market in Novalja
The current exclusive property market in Novalja is stable, demonstrating consistent strength over recent years. Demand and supply for luxury homes and apartments appear to be well-balanced, with a slight lean towards a sellers’ market. Fine and luxury properties continue to attract both domestic and foreign buyers, contributing to the robust market dynamics.
Buying a Luxury Home in Novalja: Costs & Taxation
Buying a luxury home in Novalja entails several costs beyond the purchase price. Typically, real estate commissions range around 3-6%, split between the buyer and seller. Additional costs include transfer tax, notary fees, and possible construction inspection or legal costs.
The transfer tax on private property in Novalja is currently 3%. The wealth tax on the private ownership of a house depends on the property value and type of property. Profit from selling a home that served as the primary residence is typically exempted from tax, while those selling a second/vacation home may be subject to income tax. The corporate tax on profits for registered companies is currently 18%, and the income tax for residents varies between 24-36%.
Financing & Mortgage Conditions in Novalja
Potential homeowners in Novalja usually have access to mortgage loans of up to 80% of the purchase price, contingent on meeting the banks' capital and income requirements.
Novalja: An Oasis of Luxury Living
Novalja's luxury homes are mostly to be found in its vibrant city center and picturesque coastlines that provide magnificent sea views. The town is accessible by road and boat, and is about 80km from the city of Zadar. The nearest airports to Novalja are Zadar airport (80 km) and Rijeka airport (190 km).
Education, Healthcare & Infrastructure in Novalja
Novalja, located within the Lika-Senj County, boasts of a population just under 4000 inhabitants. It has reputable educational institutions, with the closest university located in the city of Zagreb. Novalja’s various hospitals and clinics ensure quality healthcare for the residents.
Novalja: A Spectrum of Experiences
Novalja is adorned with verdant landscapes, pristine water bodies and is renowned for its Mediterranean climate. From sailing to biking, it provides numerous sporting and outdoor activities. Its luxury lifestyle shops cater to elite tastes and preferences.
The city is famous for its top-quality hotels and renowned restaurants, while its vibrant nightlife and annual events such as the Novalja Summer Festival, Pag Carnival, and Pag Lamb Festival leave no stone unturned for entertainment.
When it comes to culture, the Town Museum of Novalja and Pag Lace Gallery showcase the best of local heritage. The public infrastructure in Novalja is modern, offering convenient living conditions for its inhabitants.
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