HOTTEST GLOBAL PROPERTY INVESTMENT OPS
CITY FOCUS: DUBROVNIK
Dubrovnik as a destination and cultural 'brand' is almost more recognisable
than Croatia itself. A good place to invest. Shane McGinley
reports.
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| The beautiful and historical town
of Dubrovnik in Croatia. |
The historical city has evolved from a timid and undervalued place of
interest into one of the hottest tourist destinations to date.
Land prices within the walls have dramatically risen from 700 DEM in
the late nineties to as high as 5,000 Euros per square metre for renovated
properties in the heart of the Old Town. Over the next 10 years, Croatia
wants to take hold of Dubrovnik to control the pace of development somewhat,
and to choose what is best for the culture, economy and growth of this
stunning area.
WHY CHOOSE DUBROVNIK
There are two main aims for the future which have been outlined by the
City Major, Dubravka Suica, firstly to become the elite destination of
highquality, non-mass tourism, and secondly to become the country’s
university centre.
To create the bespoke tourism centre targetted at high-end clientelle,
plans are in place to create golf courses, new exclusive hotels, to build
new roads and improve the infrastructure and there is investment for a
massive 25.2 million Euro conversion of the Gruz port into a state-of-the-art
Mediterranean passenger port.
There has been a great deal of foreign investment in this sector already,
Paul Keppler, Managing Director of Croatiansun comments, “reacting
to the high demand for holiday rentals, investors and second home purchasers
alike have been seeking property opportunities in the Dubrovnik area.
Dubrovnik is well serviced by the nearby airport, it has a rich cultural
environment and the Old Town maintains its historic charm making it an
incredibly popular destination for tourists.”
GETTING THERE IS CHEAP
There are already a number of low cost flight airlines operating in and
out of Dubrovnik Airport including German Wings and ThomsonFly and Aer Lingus
operates flights three times a week with prices starting at €95 one
way and a three hour flight time.
| NEW RYANAIR ROUTES TO SOUTH OF FRANCE |
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In October Ryanair launched new routes
from Shannon to Carcassonne and Biarritz, which will open up the Languedoc
region, in the South of France, to Irish property buyers. Shannon
already has direct flights to the Loire valley city of Nantes and
Ryanair also operates direct flights from Dublin to Carcassonne and
Biarritz. For further information on the area and properties available
log onto www.creme-de-languedoc.com |
| GERMANY FASTEST GROWING MARKET IN EUROPE |
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New figures produced by Irish auctioneer
Lisney’s international partners Cushman & Wakefield show
that commercial property investment is booming in Europe. The total
volume of European commercial property investment at the end of June
was €86.9bn, up 27% on the same period in 2005. Extrapolating
this to the end of the year, the total figure for 2006 should come
in at €168bn. Germany has been the star performer with investment
in the first 6 months already 61% ahead of last year’s total
for the full year. www.lisney.com |
| CYPRUS PRICES CONTINUE TO RISE |
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The BuySell Home Price Index, compiled
independently for BuySell Cyprus Real Estate has reported that residential
house prices rose for their sixth consecutive month to 10.3% year
on year in August. The survey found the average price of a property
in Cyprus was CYP93,191 [€162,264.13]. www.buysellcyprus.com |
| ROCK SOLID DEAL IN GIBRALTAR |
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A deal has been struck between authorities
of Gibraltar, the UK and Spain that will allow direct flights between
the island and Spanish cities. This will increase access for Spaniards
and improve trade and relations between the communities. A new airport
terminal is also being built on the Rock and the deal will mean a
huge economic boost for Gibraltar and will most likely the property
investment market. |
| PROPERTY EXHIBITIONS IN NOVEMBER |
- 3rd to 5th: House Hunters in the Sun, RDS, Dublin. 10 to 6pm.
- 11th – 12th: Accolade Overseas, Longford Arms Hotel, Longford.
- 18th – 19th: Accolade Overseas, Templegate Hotel, The Square,
Ennis.
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