Dubrovnik in recent years become very popular with foreign investors, who are interested in investing in Dubrovnik or buying property in Dubrovnik for personal use. Moreover, high net worth individuals, international playboys and celebrities have been visiting Dubrovnik in the last few years promoting the town to the rich and famous.
Dubrovnik’s popularity is hardly surprising. The combination of the historic walled city, picturesque quiet bays, dramatic landscape, beaches, small islands and crystal clear blue sea makes for a truly unique experience. Moreover, the wide variety of restaurants, cafés, shops, hotels, amenities and leisure facilities in and around Dubrovnik provide everything a visitor could want or need.
Dubrovnik is currently up there with some of the world’s known and loved destinations. Standards have risen sharply in recent years and so have prices especially in Dubrovnik Centre although prices for goods & services are still nowhere near comparable areas on the Med in Europe. However, whilst Dubrovnik’s popularity has risen, it still retains its original charm and character although peak summer months in the Old Town can be very congested as the cruise ship visitors enter the city.
Dubrovnik is an excellent place to buy a second home, investment property or combination of both. With direct air connections from Dubrovnik International Airport with the European cities of Rome, Frankfurt, Paris and London during the autumn and winter periods Dubrovnik can be considered an all year round destination. Dubrovnik is also an excellent place for outdoor fans and sports enthusiasts, with its rugged surroundings, mountains, rivers, nearby lakes and sea. Walking, biking, climbing, rafting, paragluiding, diving, sailing are just a few of the sports on offer.
Property in Dubrovnik region is varied with property buyers able to find everything from run down old stone houses for renovation, land for building a new home or villa, holiday apartments, stone villas in the hills and modern luxury villas by the sea. It is still possible to buy an apartment in Dubrovnik centre in an old historical building, and there are a few stone houses in the old town for sale too but they are pricey.
Dubrovnik property prices vary considerably due to position and location. Dubrovnik Centre has become expensive in recent years with prime located property in Dubrovnik Old Town fetching from €5000 / m2 and some well above that. Properties in Dubrovnik that are located first row to the sea or stone houses in the center of the Old Town are also selling at a premium with very little available within the immediate area for less than €1,000,000.
Savills International reported in 2010 that Dubrovnik had become one of the most prestigious destinations in the world to purchase real estate. The average price of property in summer 2010 according to Savills was €4600 per meter squared. This put Dubrovnik in 21st position for the most expensive property destinations in the world. However, Dubrovnik property prices are still considerably lower than Monaco where the average price is €50,000 / m2. The increase in value of property in the Dubrovnik area is due to it being one of the hottest lifestyle destinations in Europe today. It’s rich cultural and historical heritage which is now known worldwide, as well as its excellent transport links and international airport which is frequented in both summer and winter.
It’s not all high budget, luxury real estate though, a large percentage of real estate in Dubrovnik wider area is much more reasonably priced and can be found in the areas of Cavtat, Zaton, Elafiti islands (Kolocep, Lopud & Šipan) & Ston. In these locations property by the sea still carries a high premium but it is possible to find plots of land, small villas, apartments, or old stone houses for between €100,000 to €350,000 and not to far from the sea and with sea views.
First Property Croatia is proud of its track record in finding Dubrovnik real estate for a wide variety of clients with different budgets, needs and requirements. Due to the fractional nature of the market, meaning there are lots of small agents with a small number of properties and often in specific areas, clients have found it very useful to work with one agency to lesson the workload. And understandably so, we know the area, what works, what doesn’t work and if we don’t have the property ourselves then we have lots of co-operation deals set up with smaller local agencies who supply us with a good selection of properties in Dubrovnik area.