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Gifted Property Up 65%

CroatiaThe amount of real estate being gifted is on the rise in Croatia. Last year 46,109 people in Croatia gifted property, 15%, or 5,900 more than the previous year, reports daily Slobodna Dalmacija

The number has significantly increased in the past 5 years, and almost doubled since 2010 when 27,924 property owners gifted away their real estate to others. The main reason is of course new taxes on property, especially on multiple property, which the government has announced will come into effect shortly. Those in the real estate industry say the move is logical with the announced new taxes for those with multiple properties, adding that many have gifted their properties onto their kids to avoid paying higher taxes on vacant extra properties.

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