Croatian town of Legrad sells off property for less than one euro

Croatian town of Legrad sells off property for less than one euro

14.05.2020 17:00

According to the German edition of bne IntelliNews, the authorities of the Croatian Legrad initiated a bargain-sale of private houses and land. All real estate goes for the price of one Croatian Kuna, which is about 0.13 euros per square meter. The purpose of the sale is to increase the population of Legrad. This Croatian town, like a whole country in general, is experiencing a serious demographic decline. At the moment, there are 2,241 inhabitants in Legrad.

Causes of population decline

Population decline began in Croatia in 2013 after it became the EU member. Since then, the country has been annually abandoned by residents who, seeking better job conditions, leave for Western Europe. By mid-2018, an annual demographic decline was recorded in all regions of Croatia, except Zagreb and Istria.

Special offer terms

Looking at the outflow of citizens, the Croatian authorities decided to attract foreign workers into various fields, including construction and tourism. You can sign a purchase agreement for square meters in Legrad only subject to: 

  1. The buyer is under 40 years old.
  2. The future property owner agrees to live in the town for the next 15 years.

If all conditions are met, the authorities of the town subsidize the acquisition of square meters up to 35 thousand Croatian kunas (4,625 euros). They will also compensate for repair work in the amount of up to 25 thousand Croatian kunas (about 3,300 euros).

As mayor Ivan Sabolich underlines, the lowest unemployment rate in the region is now set in Legrad. And this is despite the fact that several large cities are located nearby.

Based on materials: Ners
Photo: Envato