Dubrovnik, Croatia
– Dubrovnik Sun Gardens recently announced it started off the new year with six confirmed sales since it launched its first phase of 25 residences here in CroatiaÂ’s Dalmation Coast. According to the development, three more residences are in the process of completion and will also be made available as part of the newly announced partnership with The Registry Collection.
As property market projections for the year ahead remain hopeful across Croatia thanks to its imminent European accession in 2013, demand is already growing and it is expected that EU entry will generate greater returns from property investments. Dubrovnik also claims proven net rental yields of 4 percent after Homeowners Association costs and taxes.
“’This is one of the few lifestyle freehold real estate resort investments available today in Europe offering a balance of personal usage and competitive net yields for owners through a sophisticated rental program now in its third year of operation,” said Commercial Director, Julian Houchin of resort owners iO Adria, explaining why this is a good time to invest in Dubrovnik Sun Gardens.
Dubrovnik is “one of the most beautiful and fastest growing tourism and second home real estate destinations in Europe,” Houchin added, ‘where early buyers can also benefit from entry level pricing and mortgage financing at Dubrovnik Sun Gardens.
Dubrovnik Sun Gardens is a unique 5-star beachfront resort on a freehold basis. In a country where leasehold ownership is the most common form of property ownership and where strict planning laws prevent real estate developments close to the waterÂ’s edge, this ocean-fronting resort is the only one of its kind in the region.
In addition, the availability of 60 percent loan-to-value mortgages with Erste Bank on a 15-year term at fixed 6.6 percent interest, coupled with peak season occupancy rates of 95 percent and rental returns of 4 percent makes Dubrovnik highly attractive, according to Dubrovnik representatives.
“Dubrovnik Sun Gardens is a truly majestic property enjoying a prime location on a sought-after waterfront site close to one of Europe’s most spectacular and rare medieval walled cities, which has proven to be enduringly popular,” said Matt Holmes, Business Development Manager for The Registry Collection in Europe, explaining why the company was eager to incorporate Dubrovnik Sun Gardens into its portfolio.
A one-bedroom residence at Dubrovnik Sun Gardens starts at 170,000 Euros for a ground floor property with garden view, and go up to 336,000 Euros for sea view. Two-bedroom residences range from 308,000 Euros ($395,000) and 608,000 Euros ($780,125).
Dubrovnik Sun Gardens is just outside the UNESCO city of Old Town Dubrovnik. The resort is one of the very few in Croatia which offers both hotel facilities as well as an opportunity for residence ownership. Boasting one of the most comprehensive spas in the Adriatic managed by OCCO, the resort also has its own private beach, collection of thirteen bars and restaurants, extensive MICE facilities, three pools and a sports centre.
The Registry Collection is the worldÂ’s largest luxury exchange program comprising over 33,000 members and more than 160 affiliates on six continents. More than 180 properties are available through The Registry Collection program and are either accessible for exchange or under development