Luxury Outlook 2022
An ambitious exploration into high-end residential markets across the globe.
One of the newest regions added to the Sotheby’s International Realty brand’s global presence, Croatia is known for its history, waterfront lifestyle and idyllic islands. Croatia Sotheby’s International Realty’s Co-Owner, Marko Pažanin, discusses the nation’s landscape and current luxury real estate climate
“Our luxury real estate market is ready to blossom,” says Pažanin. “There is great potential here and we’re seeing a lot of expansion. [Croatia] as a destination is becoming globally recognizable, with an ever-growing interest in tourism, but also investments. We’re in constant contact with investors and looking for projects that meet the high standards of our clientele.”
“Our luxury real estate market is ready to blossom,” – Marko Pažanin, co-owner, Croatia Sotheby’s International Realty
Like in many other places around the world, people are attracted Croatia’s rich history. “Current trends show that buyers are interested in homes in the hearts of our historic cities such as Split, Dubrovnik, and Opatiia,” says Pažanin. “We also know that buyers are interested in exclusive, coastal homes on the beaches of the Dalmatian Islands. In terms of architecture, our clients are looking for modern homes that provide a sense of comfort and familiarity. This is a new trend in a market where Mediterranean-inspired design dominates; mostly built in the beginning of the 20th century, these homes are being revitalized for contemporary standards.”
As the country’s luxury real estate market is still in its infancy, the price range here offers an excellent value opportunity for prospective investors. “Luxury villas on the coast start at approximately 1.000.000 EUR, while the apartments in the core of our city centers start at around 300.000 EUR,” says Pažanin. “We are attracting buyers from all over the world along with domestic entrepreneurs, athletes, doctors and military professionals.”
The country has a lot to offer, which is why well-known athletes like former NBA star Dino Rađa and former FC Barçelona footballer Goran Vucević call it home. “Croatia, as a destination, is recognizable not only for its natural beauty, clean air and vibrant sea, but also its unique cultural and historical heritage.”