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Ljubljana (pte033/03.02.2003/14:24) - On 1 February the Slovenian property market opened to all EU citizens who qualify under the so-called 'principle of reciprocity'. The opening of the market is stipulated under annex 13 of the EU association agreement, which came into force on 1 February 1999. When the annex went into effect, Slovenian real estate became accessible to EU citizens who had lived in Slovenia for three years. But now the transaction must only comply with the condition of reciprocity.
According to the online portal of the Slovenian Chamber of Commerce and Industry http://www.gzs.si/eng/, the condition of reciprocity is met if a Slovenian citizen can purchase a piece of property in an EU country under the same or similar conditions valid for a citizen of the EU country in Slovenia. The Ministry of Justice decides in each case whether reciprocity is met.
Once Slovenia enters the EU, as scheduled for 1 May 2004, the condition of reciprocity will be replaced by a safety clause stating that the real estate market may be protected for another seven years if problems arise. Slovenia is the only candidate country to have been forced to open its property market before actual accession to the EU. The rapid opening of the market has caused a stir among Slovenians, as most other acceding countries have negotiated the right to protect their domestic real estate markets even after entry to the EU.
Slovenia's decision to open its market is in part due to strong pressure from Italy, which raised the issue of the "optanti", Italian citizens who left property behind in Yugoslavia after World War II. The compromise in the form of annex 13 was achieved through the mediation of Spain, which held EU presidency at the time.
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