Located amid the crystal-clear Adriatic Sea, Rab is a mesmerizing island with a rich tapestry of history that dates back to the Roman Era. A quaint marina town, it's famed for its distinctive medieval architecture, encapsulating four stunning Romanesque church bell towers that punctuate its skyline. Geographically, it is part of the northern Croatian archipelago in the Adriatic Sea. This coastal gem is also home to beautiful beaches and lush parks, adding to its charm and appeal.
Luxury Property Market in Rab
The exclusive property market in Rab is currently stable with a consistent demand for luxury homes and apartments that somewhat surpasses the supply. Despite the dynamics of economics and politics, Rab preserves a unique allure for buyers seeking an unparalleled mix of luxury lifestyle and historical grandeur.
Essential Information for Buyers & Sellers
On average, both buyers and sellers might need to pay around 3-6% as real estate commission in Rab, which is generally split between them. When purchasing a luxury home or apartment here, additional costs such as transfer tax, realtor commissions, notary fees, and possible construction inspection or legal costs should be taken into account. The transfer tax on private property in Rab is currently set at 3%.
Taxes and Requirements
In terms of taxation, there is no wealth tax on the private ownership of a house. However, there could be taxes applied to profit realized from selling private homes: main residences are exempt, but properties used as second/vacation homes might face capital gains tax. The corporate tax is currently at a rate of 18%, while the income tax for registered residents ranges between 24 to 36%.
A Guide to Mortages
The mortgage requirements for buying a house in Rab typically comprise a minimum down payment of 20% of the purchase price, with the remaining amount financed through foreign capital. Income requirements also apply, ensuring the buyer's ability to meet future repayment obligations.
Exclusive Residential Areas in Rab
Rab's most sought-after and priciest residential areas are typically located near the waterfront, with majestic views of the Adriatic and easy access to the medieval Old Town. These include the areas of Palit and Banjol.
Accessibility and Proximity
Rab can be accessed by both road and ferry. It's about 138 kilometers or a 3-hour drive from the nearest big city, Rijeka. The island is approximately 200 kilometers from Zagreb Airport and within an hour's drive from Rijeka Airport.
Education Institutions
For education, Primary School "Ivan Rabljanin" and Secondary School "Markantun de Dominis" are within Rab. Meanwhile, for tertiary education, the University of Rijeka is the nearest institution.
Recreation & Lifestyle in Rab
Rab offers a lifestyle unlike any other. It boasts Roman ruins, green parks, crystal clear beaches, and a vibrant nightlife. Luxurious hotels like the Grand Hotel Imperial and Arbiana Hotel offer impeccable service, while high-quality restaurants such as Restaurant "Agatini Vrtovi" and Restaurant "Marina" never fail to impress. Annual events like the Rab Fjera and Rabska Fjera bring life, culture, and a sense of community to the island.
Healthcare Options
The General Hospital of Rab and other smaller clinics provide comprehensive healthcare to residents and visitors alike.
Infrastructure & Amenities
From a comprehensive public transit system to renewable energy innovations, the public infrastructure in Rab is robust. This historic town is home to several museums, including the Rab Museum housed in a former palace and galleries like Galerija Kristofor Stanković strewn across the town. With a blend of history, culture, and the luxuries of contemporary living, Rab is not just vibrant and iconic but holds a timeless appeal.
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