The modern real estate market is very complex. There is a great deal of interest around the world in buying luxury real estate. Croatia will not be at the top of the most desirable destinations for a long time.
We are an expensive country. Our luxury properties are for sale at world (unrealistic) prices. The ratio of the purchase price of the real estate to the return on investment through the long-term lease of the real estate is not 10 years as abroad, but is 20, 30 or more years. Unrealistic and unprofitable. The artistic impression of real estate is an overrated category in our country. Our market has been priced in the “creative mess” for years. The state imposes high tax rates, which makes our destinations even less desirable for customers. Our summer season is relatively short (100 days). Elite hotel tourism is not accompanied by other luxury and luxury offer in cities.
What do we not have?
… we don’t have Cannes, Rimini, Rome, Paris, London, Dubai, Coco Chanel, Gucci, Prada, Versace.
We do not have any truly elite and luxurious destinations, recognizable by pure luxury, recognizable by the glamor and luxurious offer of world-renowned brands.
What have we got?
… we have Dubrovnik, Opatija, Split, Zadar, Sibenik, Zagreb, H&M, Zara, Gulliver.
We have historically valuable cities, the sun, the sea, mediocre beaches, some ultra-luxury restaurants, some luxury marinas, some ultra-luxury hotels, some luxury villas, some luxury apartments…
We do not have a city that is entirely extravagant, glamorous and ultra-luxurious, the location where it is justified to sell (luxury villa at a price of 10, 20 or 50 million euros), (luxury hotel at a price for few hundreds of millions of euros).
Croatia can have all this if we allow the right investors to invest in Croatia. Those who are in the U.A.E. managed to build the most beautiful and attractive buildings in the desert, ultra luxury and ultra modern cities like Dubai, proved that everything is possible. All we need to do is think forward and invite the right investors – visionaries.
A lot of factors influence that some real estate can be luxurious.
A luxury property must primarily be built in a luxurious and attractive location.
Properties that we consider luxurious must be extravagant and functional. The quality of the construction and the materials used must be first class. Projects must be extraordinary, unique and ultra-modern. Luxury real estate must satisfy the refined taste of a particular buyer. Luxury real estate is not one that is the only feature of the high price, but one that is breathtaking and for which it is ready to spend a million dollars.
What real estate can we call luxury real estate by location?
Luxury villas built: in an elite quarter of the city, in a secluded location, first row to the sea, with sea view, in your own bay, on a hill overlooking the city, on your own island …
Luxury apartments / Luxury apartment buildings built; in the elite quarter of the city, in the center, in the pedestrian zone of the city, in brand new urban settlements…
Luxury hotels with 4, 5 or more stars built: in the city center, in the pedestrian zone of the city, in the first row to the sea, in its own bay, in the first row to the sea on the island…
Luxury business premises / Luxury office buildings built; in the business zones of the city, in the city center, at the entrance to the city…
Luxury castles built in seclusion, far enough from the big city and small towns…
Author: Mirjana Mikulic (www.luksuzno.com)