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BOSNIA & HERZEGOVINA - EASTERN EUROPE TRAVEL & ACCOMMODATION GUIDE

Sebilj Fountain, Bascarsija Market, Sarajevo, Bosnia, Bosnia-Herzegovina
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BOSNIA & HERZEGOVINA TRAVEL INFORMATION

Visiting Sarajevo

Article on buying Bosnia Property by Anthony Riley

Sarajevo Featured Hotels - Sarajevo Self-Catering Accommodation

The good news is that a foreign national does not need to ask for permission to purchase a property in Bosnia and Herzegovina.
 
The emerging property market is similar to other developing countries with high end construction, and investment opportunities.

Your estate agent operates in a reasonably transparent and competitive market, given the newness of the market; most agents only operate in the major town, handling mostly residential sales along with apartment rentals.

Property valuation is not regulated in Bosnia and Herzegovina, there is no national body offering this service, so you’re Agent’s local knowledge of property and prices will prove invaluable.

At this moment we are unaware of any mortgage lenders in Bosnia and Herzegovina that will offer foreign nationals finance to assist with property purchase.

It is easier to complete a property purchase if you use the company route ,this will cost you around €1000 in fees and an initial start up capital of €2000 Owning a company then has a regular obligation of maintaining your accounts to present to the tax authorities making life that little bit easier

Panoramic Night View of the City, Sarajevo, Bosnia, Bosnia-Herzegovina, Europe
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PURCHASE

In every case engage a trustworthy lawyer, you will pay between 3-5 of the agreed selling price to the seller.

To be valid properties must have been registered in the property books within the local courts. Properties are also recorded in the local Cadaster (property map) which provides a unified property and cadastral system. This property law has only just been implemented, as property books are frequently out of date and many property books were destroyed during the civil war.
 
Sebilj, Bascarsija District, Sarajevo, Bosnia and Herzegovina
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This is where your agent comes into his own as it is his job to ensure that your property purchase has a clean title deed.

Registration procedures allow for a “subscription” which is a temporary registration of property rights, pending authentication. Once this has been done, you are then obliged to pay the seller of the property the balance of the money owed. (Because of court backlogs it can take up to a year to get the property registered and get title deed)

You will have to pay 6 property tax and a 1 property tax payable!

At this moment there is no Capital Gains Tax in Bosnia and Herzegovina for foreign nationals buying and selling property.

As a foreign national you can rent out your property in Bosnia and Herzegovina without any requirement to obtain a rental licence from the authorities.

Sometime in the future Bosnia and Herzegovina will become members of the European Community and when it does the prices of property will be considerably more than they are at the moment.

Sarajevo Featured Hotels - Sarajevo Self-Catering Accommodation

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About the Author:  Anthony Riley is a consultant to Globespan European property portal. Please visit our estate agents directory and this Bosnia property buyer’s guide

SARAJEVO FEATURED HOTELS

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Holiday Inn Sarajevo
Offering comfortable accommodation and convenient facilities, the Holiday Inn Sarajevo is an ideal place to spend your relaxing vacation.  The Holiday Inn Sarajevo is located in the city centre opposite to the Land Museum. Local attractions include the Zetra sports hall, Bascarsija, Bay's mosque, Vijecnica, Cathedral and several others.  The inn has 206 rooms that are well furnished and equipped with modern amenities. Attentive room service is also available for your convenience.  You can dine at the onsite restaurant that serves a variety of delicacies and later enjoy a drink at the bar.
Hotel Exclusive, Sarajevo
This hotel is located in Sarajevo. Bosmal City Centar, National Museum of Bosnia and Herzegovina, and Ali Pasha's Mosque are local points of interest. Additional attractions in the area include Eternal Flame. Dining options at Hotel Exclusive include a restaurant. A complimentary breakfast is served daily. Recreational amenities include a health club, a sauna, and a fitness facility. Spa amenities include massage/treatment rooms and a hair salon. This 4.0-star property has a business center and offers audio-visual equipment. Wireless Internet access is available in public areas. The property has an airport shuttle, which is complimentary. Additional property amenities include air conditioning in public areas. 
Hotel Hecco, Sarajevo
Hecco Hotel is three star hotel located in the oldest part of town, only 300 m from Bascarsija.  Hotel has 28 rooms and 2 apartments all equipped to high world standards.  Every room has bathroom with a hair dryer, mini bar, TV with SAT and cable programs, telephone, and internet connection which is free of charges for Hotel's guests.  The Hotel's architecture is adapted to Bosnian architecture including postmodern elements.  In the Hotel we also have a modern restaurant and conference room, with all additional equipment. The most important thing to say is that the prices of hotel are very affordable.  The price for one night includes overnight, breakfast, tax, insurance, internet connection in rooms and parking place in a garage, in case you are coming with a car.
Hotel Italia, Sarajevo
This hotel is located close to the airport. Attractions in the neighborhood include University of Sarajevo. Additional attractions include National Museum of Bosnia and Herzegovina. This property offers both all-inclusive and room-only rates. Meals and beverages at on-site dining establishments, taxes, and gratuities are included in all-inclusive rates. Charges may be applied for dining at some restaurants, special dinners and dishes, some beverages, and other amenities. Dining options at Hotel Italia include a restaurant and a bar/lounge. A complimentary breakfast is served daily. This 2.5-star property offers small meeting rooms, a technology helpdesk, and limo/town car service. 
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