Real Estate in Bosnia & Herzegovina
Last updated on Sep 27, 2023
Summary: An expat looking to buy a home in Bosnia & Herzegovina should begin their search by researching the local real estate market. They can look for listings online, contact local real estate agents, or attend open houses. Homes in Bosnia & Herzegovina typically include amenities such as central heating, air conditioning, and modern appliances. Many homes also have balconies or terraces, and some may have a garden or outdoor space. Foreigners are allowed to purchase property in Bosnia & Herzegovina, but they must obtain a permit from the Ministry of Foreign Affairs. The permit is valid for one year and must be renewed annually.
How do I find a place to live in Bosnia & Herzegovina?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"The best way to find a place to live in Bosnia & Herzegovina is to search online for rental listings. There are many websites that offer listings for apartments, houses, and other types of accommodation in the country. Additionally, you can also search for real estate agents in the area who can help you find a suitable place to live. Additionally, you can also ask friends and family who live in the country for recommendations," explained one expat living in Bosnia & Herzegovina.
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What is a typical expat home or apartment like in Bosnia & Herzegovina?
"Expat homes and apartments in Bosnia & Herzegovina tend to be modern and comfortable, with many featuring modern amenities such as air conditioning, internet access, and cable television. Expats often choose to live in larger cities such as Sarajevo, Banja Luka, and Mostar, where they can find a variety of housing options, from luxury apartments to more affordable options. Expats can also find furnished apartments in many areas, making it easier to move in and start living right away," said one person in Bosnia & Herzegovina.
What is the average cost of housing in Bosnia & Herzegovina?
If you are thinking about moving to Bosnia & Herzegovina, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The cost of housing in Bosnia & Herzegovina varies depending on the location and type of property. Generally, the cost of renting an apartment in the capital city of Sarajevo is relatively affordable, with prices ranging from around €200 to €500 per month. Outside of the capital, prices tend to be lower, with some rural areas offering apartments for as little as €100 per month. Buying a property in Bosnia & Herzegovina is also relatively affordable, with prices ranging from around €50,000 to €100,000 for a two-bedroom apartment," said one person in Bosnia & Herzegovina.
Should I buy or rent a home in Bosnia & Herzegovina?
If you have not spent a lot of time in Bosnia & Herzegovina, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"When deciding whether to buy or rent a home in Bosnia & Herzegovina, it is important to consider your budget, lifestyle, and long-term plans. Buying a home can be a great investment, but it requires a large upfront cost and a long-term commitment. Renting a home can be more affordable and flexible, but it may not provide the same financial benefits as owning a home. Ultimately, the decision to buy or rent should be based on your individual needs and preferences," remarked one foreigner who made the move to Bosnia & Herzegovina.
What do I need to know when buying property in Bosnia & Herzegovina?
When we asked expats what advice they would give a foreigner before buying a property in Bosnia & Herzegovina, they said:
"1. It is important to research the local laws and regulations regarding property ownership in Bosnia & Herzegovina before making any purchase. 2. It is also important to ensure that the property is legally registered and that all necessary documents are in order. 3. It is advisable to hire a local lawyer to assist with the purchase process and to ensure that all legal requirements are met. 4. It is important to be aware of the local tax laws and to ensure that all taxes are paid in a timely manner. 5. It is also important to be aware of any restrictions on foreign ownership of property in Bosnia & Herzegovina. 6. It is advisable to obtain a survey of the property before making any purchase to ensure that it is in good condition and that there are no hidden defects. 7. It is important to be aware of any potential risks associated with the purchase of property in Bosnia & Herzegovina, such as political instability or natural disasters. 8. It is also important to be aware of any potential environmental risks associated with the property, such as contamination or flooding," remarked one foreigner who made the move to Bosnia & Herzegovina.
Are foreigners allowed to own property in Bosnia & Herzegovina?
When we asked expats what advice they would give a foreigner before buying a property in Bosnia & Herzegovina, they said...
"Yes, foreigners are allowed to own property in Bosnia & Herzegovina. The country has a liberal foreign investment policy, and foreign nationals are allowed to purchase real estate in the country. However, they must obtain a permit from the Ministry of Foreign Affairs in order to do so. Additionally, foreign investors must register their property with the local municipality in order to obtain a title deed," remarked one foreigner who made the move to Bosnia & Herzegovina.
What appliances are typically included in a rental?
We asked foreigners in Bosnia & Herzegovina what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"In Bosnia & Herzegovina, rental properties typically include a refrigerator, stove, oven, and washing machine. Other common appliances may include a dishwasher, microwave, and air conditioning unit," explained one foreigner living in Bosnia & Herzegovina.
Additional Information about Searching for a Home in Bosnia & Herzegovina:
We asked foreigners in Bosnia & Herzegovina what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats can search for homes in Bosnia & Herzegovina by looking at online listings, contacting local real estate agents, and networking with other expats who have already settled in the country. They can also search for homes on social media platforms such as Facebook and Twitter, as well as on expat forums and websites. Additionally, expats can attend open houses and viewings to get a better sense of the local housing market," explained one foreigner living in Bosnia & Herzegovina.
About the Author
Betsy Burlingame is one of the founders of Digital Nomad Exchange and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and Digital Nomad Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
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