Hotel 408 m² in Rovinj, Croatia

Mini-hotel (pansion) with 6 independent apartments and garage in super-popular  Rovinj!Total surface is 408 m2 gross.This touristic property is located in the top tourist area of the city’s first Zone Centener, close to the Eden Hotel, Lone, Monte Molini, Grand Hotel Park, the Punta Corrente Nature Park and beautiful natural beaches. Advantageous location for Rovinj.

There are four levels in the building.
The first floor, including the garage, serves as a storage room and laundry room with enough space for conversion into an additional accommodation unit. 
Each of the other three floors consists of two equipped and furnished studio apartments. 
Each apartment has its bathroom, kitchen and a large covered terrace of 18 m2, where tourists spend most of their vacation time. The apartments achieve good commercial results, high occupancy rates and excellent rankings and estimates of international guests from almost all over the world.
Due to the micro-location of the building by foot you can reach pebble beaches (Monte Molini beach) or natural stone beaches (Cuvi) and the core of the old town of Rovinj (St. Euphemia).Parking is available in the garage or at 250 parking spaces close to the property, which are free of charge during the tourist season. Hotel was by now operational during 2 months a year.
In 2018 it earned 51 000 EUR - 3 % renditeIn 2019 it earned 50 000 EUR  - 2.99 % renditeNormally hotel can work 12 months a year (9 months full occupancy) and than earn 6 app x 40 EUR per app per day = 240 EUR per dayThat means 7200 EUR per month x  9 months = 64 800 EUR then rendite is 6,8%.

Some touristic overview for the start of 2024

Below is some abstract from official Croatian tourist statistics for the start of 2024. It is quite important for those investors who consider investment in Croatian tourism.

In the first quarter of 2024, there were 1.1 million tourist arrivals in Croatia and 2.6 million tourist nights realised in commercial accommodation facilities, which was 16.7% more arrivals and 17.2% more nights compared to the same period of 2023.
Tourism is rising in Croatia steadily.
Domestic tourists of Croatian origin realised 422 thousand arrivals and 885 thousand nights in the first quarter of 2024, which was an increase of 6.9% in tourist arrivals and of 8.6% in tourist nights.

In the same period, foreign tourists from other countries realised 658 thousand arrivals and 1.7 million nights, which was 24.0% more arrivals and 22.1% more nights compared to the same period of 2023.

Tourists from Germany realised the most foreign nights (267 thousand nights, which accounted for 15.4% of the total realised foreign tourist nights). They were followed by tourists from Slovenia (15.3%), Austria (13.8%), Italy (6.9%) and Bosnia and Herzegovina (5.0%). All aforementioned countries realised an increase in tourist nights in the first quarter of 2024 compared to the same period of 2023.

The highest number of tourist nights in March 2024 was realised in the County of Istria, as much as 409 thousand nights, which was 30.9% of the total number of tourist nights realised in Croatia. Compared to March 2023, there were 77.0% more tourist nights in the County of Istria. Of the total number of nights realised in the County of Istria, domestic tourists realised 63 thousand nights and foreign tourists 346 thousand nights. The most foreign tourist nights in the County of Istria were realised by tourists from Germany (25.6%), Austria (22.9%), Slovenia (20.7%), Italy (9.4%) and the Czech Republic (3.8%).

The County of Istria was followed by the County of Primorje-Gorski kotar with 236 thousand realised tourist nights and the City of Zagreb with 167 thousand realised tourist nights.

The highest number of tourist nights in April 2024 was realised in the County of Istria again, as much as 766 thousand of them, which was 27.6% of the total number of tourist nights realised in Croatia. Domestic tourists realised 115 thousand nights in April 2024, which was 7.9% less nights than in April 2023. Foreign tourists realised 651 thousand nights in April 2024, which was 27.9% less nights than in April 2023.

The County of Dubrovnik-Neretva followed, with 432 thousand tourist nights, which accounted for 15.6% of the total realised tourist nights in Croatia, as well as the County of Split-Dalmatia, with 424 thousand nights, which accounted for 15.3% of the total realised tourist nights in Croatia. In April 2024, as compared to April 2023, in the County of Dubrovnik-Neretva there was an increase recorded in the number of nights of both domestic and foreign tourists, of 5.2% and 18.9%, respectively. In the County of Split-Dalmatia, in April 2024 compared to April 2023, foreign tourists realised an increase in the number of nights of 2.4%, whereas domestic tourists realised a decrease in the number of nights of 7.3%.

We are waiting for statistics for May 2024 but this data above already shown us some strong tendency.

 

  Ref: RE-AB-H-18

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.