Great rental property - seven luxury villas on Ciovo in a waterfront condominium!
5***** star complex of seven luxury villas for sale on Ciovo peninsula within green and prestigious envonronment!
Gorgeous location less than 10 km from UNESCO-protected jewel city of Trogir and less than 15 km from international airport of Split!
Extremely demanded location worth the Royals!
We hereby offer seven super-luxury villas on a land plot of 7000 sq,m. stretching up the hill from the first line to the sea where you find a private beach a mooring facilities for the boats/yachts.
Each villa boasts wonderful sea views!
Villas are projected to have 300-400 sq.m. of floorspace, heated swimming pools, garages.
It is a concept of condominium in a modern architectural style, with the highest quality of construction and the finest materials and equipment chosen.
Some villas will offer jacuzzi, internal elevators.
Total built and rentable area is 2780 sq.m.
Great rentability expectations:
- 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.
- 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
Additional costs borne by the buyer of real estate in Croatia: real estate sales tax(3% of real estate value), agency fee(3% + VAT on real estate value), attorney's fees, property registration fee(1% + real estate VAT).