The process for getting a mortgage in Slovenia as a foreigner involves several steps:

  1. Finance Options: In Slovenia, you can buy property based on your income in your country of origin. Typically, the maximum loan to value is between 50% and 70%, and mortgages are offered on a repayment option only.
  2. General Fees: If you are buying from an agent, you will need to pay them a percentage of the purchase price. In Slovenia, the agent works on behalf of both the seller and the purchaser of the property. The typical charge for an agent is 4% + DDV (VAT at 20%), and this is split equally between the buyer and the seller. This price usually includes Land Registry searches and sometimes also the cost of drawing up contracts, although you will need to check this in advance.
  3. Making An Offer: Once you have located the property you wish to buy and your offer is accepted, there are several things that you need to do before the purchase can be concluded. These include obtaining an EMŠO Number (a unique identification number that Slovenians receive at birth, which foreign buyers need to apply for) and a Tax Number (used on every tax record).
  4. Contracts: A 10% deposit is normally required to secure the property. This is usually paid under the terms of a preliminary contract that states the basic terms of the sale and the conditions under which the deposit is paid. After this, a main contract follows.
  5. Exchange Rates: The rate you exchange money at will make a big difference, and you should shop around for rates from specialist currency companies.
    Insurance: Buildings and content insurance through Slovenian firms is relatively cheap and many cater for foreign investors.

After you have done the above, you should review everything with your lawyer and once both parties are satisfied, contracts can be exchanged. An application is then made to the Land Registry to register your interest and an exchange meeting is arranged for you to take possession of the property from the seller.

What is the potential for rental income if I decide to rent out the property?
The cost of real estate in Maribor varies depending on the location and the type of property. Here are some average prices based on data from Numbeo as of June 2023:

-Price per Square Feet to Buy Apartment in City Centre: €203.22 (range: €176.51 – €241.55)
-Price per Square Feet to Buy Apartment Outside of Centre: €169.88 (range: €157.93 – €185.80)

Rent per month:
– Apartment (1 bedroom) in City Centre: €394.44 (range: €300.00 – €500.00)

-Apartment (1 bedroom) Outside of Centre: €360.00 (range: €300.00 – €450.00)

-Apartment (3 bedrooms) in City Centre: €785.71 (range: €700.00 – €1,000.00)

-Apartment (3 bedrooms) Outside of Centre: €622.50 (range: €550.00 – €700.00)

Please note that these are average prices and actual prices may vary. It’s also important to consider other costs associated with buying property, such as taxes, legal fees, and maintenance costs. It’s recommended to consult with a local real estate agent or property expert to get the most accurate and up-to-date information.