Croatia is one of the ecologically best preserved parts of Europe boasting of 8 national parks in such a small area. Emerald-blue waters and secluded pebble shores sit effortlessly beside historic cities and natural wonders. Dalmatia is a region on the eastern coast of Adriatic Sea, situated in Croatia. It is famous for its striking coastline of islands and inlets. Scattered within a couple of miles of each other, are 1185 Dalmation islands making it one of the most impressive coastlines in the world and a perfect hideout for the super wealthy.
Sailing around Dalmatia, it is visible to see that it is attracting serious amounts of affluence. On approach to major touristic towns, super yachts can be seen in every direction. There are currently around 50 major Marinas offering around 14,000 berths. The government plan to double this by 2018 providing berths for up to 28000 yachts, IBI magazine reports. It is the perfect setting for those with the means to island hop and visit some of the most picturesque towns in the world.
In recent years, there has been a shift away from mass-tourism to attracting more affluent customers. This continues to be the case as Croatia attempts to carve out a new niche and modernise its infrastructure. This arises partly from necessity, as the country becomes a comparatively more expensive destination for international travellers, and partly through a conscious effort to secure the higher value sector of the market.
Along with an increase in luxury tourism comes investment in luxury real estate. Pin & Pin have been at the forefront of luxury development within Dalmatia, recently winning and international property award for best single development. Having attracted some of the highest clientele from around the world and developing some of the finest villas in the Adriatic it is evident to see that despite being a recession, there is still a market for high end villas. Adam Pinion MD of Pin & Pin says; “Dalmatia has everything and more to offer than most of Europe’s prime destinations such as the South of France. The Buyers see Dalmatia as a refreshing alternative to the stereotypical villas in those areas, as well as having many other advantages. It’s not often you come across luxury homes that you can moor large yachts in front of, and this is what we concentrate on.” (www.pinandpin.hr)
Business Monitor international believes that around 1,000 new hotels and other accommodation establishments will open in Croatia over the period until 2017. BMI forecast an increase in the value of the country’s hotel and restaurant industry from US$2.44bn at the end of 2012, to US$2.97bn by the end of 2017. Some of the world’s larger global hotel chains, such as Hilton, Carlson-Rezidor, and Starwood, are turning their attention towards Croatia and have invested in new hotels, primarily at the luxury end of the market via brands such as Doubletree, Sheraton and Radisson Blu.
Areas such as Dubrovnic, Hvar and Brac are specifically renowned for attracting high end clientele, quite often A-list celebrities and Royalty. They have all the facilities any superior holiday destination would require, from super yacht mooring to luxury restaurants and bars. Everything is catered for. Prices in such areas are currently lower than alternative high end destinations around Europe, which seems to still allow a broader range of people. These regions are drawing in investment from the likes of Dubai based investment fund Arqaam Capital and the South African Kerzner International Resorts. Pin & Pin predict that within the next few years we will see an influx of investors looking for the high end properties as they experience what the Dalmation lifestyle has to offer. It is currently a great time to invest and now Croatia have joined the EU they seem to be gathering more interest.
According to Savills world reasearch the new wealth sources from Russia and the middle East is driving property purchases in Europe. Croatia is also expected to continue diversifying its tourist source markets, as evident in the decision by the Croatian National Tourist Board (HTZ) to open an office in Tokyo, which will also cover other markets in Asia such as China and India. Following this there is likely to be an influx in wealth from these regions. BMI predicts that there will be a 31.8% increase in arrivals over the next 5 years.
It is not hard to see why there is a growing interest in Dalmatia. Croatia itself oozes in culture and has an endless list of activities to do. The day times can be spent sun bathing and sailing and the night times spent dining in historic towns. If it is nightlife you’re after, Dalmatia has areas which have been compared to the likes of St Tropez. Having all destinations and islands in such close proximity makes it possible to have a piece of everything. It literally has it all.