Hotel 2 100 m² in Umag, Croatia

Respectful hotel on the first line to the sea in Basanija area between Umag and Kempinski hotel!

Offical category is 3 stars. Built in 1908 as a luxury villa, it was fully renovated in 1998.

It has overall surface of 2100 m2 which is divided between 23 comfortable apartments and penthouse (each accomodating 3-7 people to accomodate 108 people in total).
There is also a restaurant for 80 places, bar and two large terraces with wonderful sea view to enjoy the coffee.
Five levels in total.

Hotel in in function.
All suits have terraces overlooking the sea. Building is surrounded by centennial cepress-trees. It is a peaceful area which offers much privacy.
There is a pier in front of the building. Playground for children is also available.

Additional benefits of hotel:

• elevator
• central heating
• Internet access, WIFI
• SAT TV
• safes
• sundecks
• spacious parking
• installed kitchens in the apartments

Hotel has a rich history over booking engines. Average scrore on booking.com is 8.0

NOTE: Price went down over last 2 years from 6,5 mln euro to 4,9 mln euro due to urgency of sale.
Official bank evaluation of hotel done in 2017 gave a value of 4 600 000 eur which definitely rose over last two years due to general rise in tourist acitivity in Croatia.

Tourism is a key national industry in Croatia and this segment of Croatian economy is growing every year. Touristic industry generated officially 9 bln euro in 2016 in Croatia or 18% of GDP of the country. It is a locomotive to Croatian economy as a whole. Booming tourism means booming development for Croatia  In 2015 there were over 12 mln registered tourists with over 90 mln overnights, in 2016 more than 16 mln tourists visited Croatia, by 2020-2022 Croatia is planning to double these figures as a part of national strategy. Croatia still lacks 200-300 modern hotels of which at least 150 should be of 4 and 5 stars. Many hotels are in need of modernization and upgrade to meet modern challenges. Croatia is planned to become all-year-round destination. Thus tourism is enjoying wide governmental support. 
Croatia is always named within TOP-10 tourism destinations by LOVELY PLANET and NATIONAL GEOGRAPHIC ADVENTURE MAGAZINE. The tourists are mainly coming from Germany, Austria, Slovenia, Italy and Poland. 
Tourism is Croatia is a highly attractive investment area, especially due to recent accession to EU. Croatia is also expecting to join Schengen-zone soon and will further stimulate tourism growth in Croatia. 
It is right time to invest in hotel infrastructure in Croatia and buy a hotel or mini-hotel in this country to be a part of success.
It is a high time to buy hotel in Croatia, to invest in Croatia, to renovate properties in Croatia!

Overall additional expenses borne by the Buyer of real estate in Croatia are around 7% of property cost in total, which includes: property transfer tax (3% of property value), agency/brokerage commission (3%+VAT on commission), advocate fee (cca 1%), notary fee, court registration fee and official certified translation expenses. Agency/brokerage agreement is signed prior to visiting properties.