Kolan - Karlobag - Novalja

The island of Pag, steeped in history, offers unique and awe-inspiring sights such as the ancient Roman city of Cissa and the beautiful Lace of Pag Museum. Its geographical location forms a natural bridge between Northern and Southern Adriatic views. From sheltering a Byzantine fortress in the past to now hosting some of the most sought-after properties, Pag has evolved while retaining its historical nuances. Placed off the Croatian coast, it beautifully balances between the continental culture and the serene island life.

The Exclusive Property Dynamics in Pag

The exclusive property market in Pag is currently strong due to the rising popularity of this island amongst property investors. Demand is high for its luxury homes and apartments, but the supply can be slower to meet this. It may be considered a sellers' market due to this imbalance. The current political and economic situation in Pag is stable, making it conducive for real estate investment and related activities. When buying a luxury home in Pag, a buyer can expect to pay a real estate commission of about 3-6% of the property's price. The seller also pays a similar percentage.

Additional Costs to Consider When Buying Luxury Property in Pag

Other costs that come into play when buying a luxury home in Pag are transfer tax, notary fees, and possible construction inspection or legal costs. Currently, the transfer tax on private property in Pag stands at 3%, and wealth tax on private home ownership is usually included in the property tax which varies based on the value of the property. When selling a privately owned home used as a main residence in Pag, profits are exempt from tax, but tax does apply to the profit from selling a privately owned home used as a second or vacation home. Registered companies in Pag have to account for a corporate tax set at 18% on profits. Income tax for registered residents is progressive, ranging from 24% to 36%.

Mortgage Options and Requirements in Pag

For mortgage, foreign buyers can finance up to 50-60% of the purchase price. This depends on the individual's financial status and the bank’s criteria.

Top Residential Areas in Pag

Luxury homes are peppered across Pag, especially in areas like Novalja and the Pag town center.

Accessibility to Pag

Pag is connected to mainland Croatia by the Pag bridge, allowing easy access by road. It's around 60 km from the nearest big city, Zadar. International airports like Zadar Airport and Split Airport are located within reasonable distances from Pag.

Education, Healthcare, and Amenities

Pag houses the Pag Elementary School and is within reach of universities in Zadar. Nearby healthcare institutions include General Hospital Zadar.

Living the Luxury Lifestyle in Pag

Apart from gorgeous residential vistas, Pag also offers an impressive array of luxury lifestyle stores. High-quality hotels like Hotel Boškinac and Luna Island Hotel accent the nightlife, along with well-known restaurants like Restaurant Na Tale and Nox Lounge & Bar. Beautiful landscapes invite outdoor activities like biking, hiking, and water sports. Cultural fares include Pasko Ljeto events and Pag Art Festival. Pag is also home to important museums and art galleries, such as the Salt Museum and Lace Gallery. Pag offers a stable public infrastructure, and the availability of amenities is adequate for a comfortable luxury island life. The health infrastructure is competent with facilities like Pag Medical Centre and Gajac Ambulance. Environmentally, Pag features a rocky, moon-like landscape accompanied by pristine beaches and azure waters, while its Mediterranean climate offers warm summers and mild winters. This blossoming luxury hub is a marriage of rich history, stunning properties, and a vibrant lifestyle reflective of its geographical standing.