Villa 2 780 m² Split-Dalmatia County, Croatia

Croatia

Archive cost $12,16M

Sold or out of date

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Villa 2 780 m² Split-Dalmatia County, Croatia

Updated at: 26/03/2025

Location

Country: Croatia

Region: Split-Dalmatia County

Building parameters

Total area: 2 780 m²

Land area: 7 000 m²

Description

Great offer of 7 waterfront villas with swimming pools on Ciovo in a package!
Final stage of construction. All the works to be completed in early 2021 prior to new touristic season start.

Each villa has 300-400 sq.m. each which makes 2870 sq.m. in total. Each villa will benefit swimming pool, garage. Some of the villas will offer elevator and jacuzzi.
Land plot for the whole project is 7000 sq.m. 

Special details:

Short distance from UNESCO-protected town of Trogir, cca.10 km from international airport of Split.
Project is surrounded by protected national park, historical roman buildings and olive gardens.
Direct access to the sea.
Expected rental period – 19 weeks/year.
Average NOI per Villa – €65K net per year.
Strong growth rate – Property values grew by 9.1% in Q1’20 y-o-y. It is 5th year in a row with rising luxury property values and increasing tourism revenues (we don't take COVID-10 season into account).
Resilience – Prices kept value during 2008 financial crisis. Coronavirus outbreak did not lower property values YTD. The demand for Croatian luxury real estate significantly increased post lockdown
Expected nightly rate of €900+/Villa.
2.6x+ equity multiple and 11+% IRR for the 10-year holding period
€200K annual net cash flow

Purchase Price: for 100% of shares in a Croatian private limited company (d.o.o.). 
Great aquisition for your rental portfolio.

Unique location!

Ref: RE-LB10843

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.