Sun Gardens Dubrovnik

Overview

Location: Croatia

Key Features

Swimming Pool

Spa Treatments

Golf

Satellite TV

Units Available

Price (per sq m)BedsBaths
One Bedroom Residency € 170,000 ‎ (£145,212 per sq m) 1 N/A
Two Bedroom Residency € 308,000 ‎ (£263,090 per sq m) 2 N/A

Property Description

DUBROVNIK

Situated on the coast near to the village of Orašac, Dubrovnik Sun Gardens is twenty minutes from Old Town Dubrovnik, a short drive to the historic town of Ston, a quick boat ride away from the Elafiti Islands, and just 45 minutes from Dubrovnik International Airport.

The history, culture, and unspoilt nature that surrounds Dubrovnik Sun Gardens, combined with the superb modern facilities, available on this five-star resort, offer an unrivalled opportunity to experience the perfect blend of Croatia's past and present. The advantages of the Dubrovnik Sun Gardens resort include:

  • Close proximity to historic Old Town Dubrovnik
  • Surrounded by the Elafiti Islands resulting in spectacular views from every vantage point on the resort
  • 201 room contemporary Radisson Blu hotel
  • 207 fully appointed residences in a Mediterranean style resort village setting
  • An extensive beachfront with a wide range of watersport activities
  • Three large freshwater pools
  • The Spa by OCCO Spa & Wellness Centre
  • Extensive restaurants and bars featuring local and international cuisine
  • Sports and recreation centre with a range of facilities including a gym, a squash court, outdoor tennis courts, and a five-a-side football pitch,.
  • Kids’ club with a wide range of indoor and outdoor activities.

Croatian resort Dubrovnik Sun Gardens

Dubrovnik Sun Gardens, Croatia's benchmark in luxury resort developments has completed its first overseas property sale. “We are already seeing huge interest from the domestic and international broker community as well as through our in resort guests,” says Julian Houchin, commercial director of the project’s developer and fund backer Jupiter Adria.

The resort has already established a good rental track record of performance, now in its third season of operation andis operated by an experienced resort management team under licence with Radisson Blu Hotels & Resorts anddeliversthe product to satisfy the pent up demand for luxury front line sea side resort real estate in Croatia.

The development is based at Orašac, a 12 kilometer drive north along the coast from the UNESCO World Heritage city of Dubrovnik. It is one of the most comprehensive developments on the Croatian coast and features an extensive range of in-resort amenities. “We have already received a great deal of interest across Europe,” says Houchin Resort facilities include an award winning spa by OCCO, a sports centre, 13 restaurants and bars featuring local and international cuisine, a supermarket and retail shopping outlets and 25 one- and two-bedroom apartments … all of which will be released in the first sales phase.

Dubrovnik from Residences Dubrovnik Sun Gardens on Vimeo.

The Residences range in size from 44 sqm to 111 sqm, are furnished to a high specification and offer outdoor terrace areas with sea or courtyard views. One bedroom residence prices range from €170,000 for a ground floor residence with courtyard view up to €336,000 for larger one bedroom residences with a sea view. The two bedroom residences range from €308,000 for a garden view residence up to €608,000 for larger two bedroom residences with a sea view. The average maintenance fee per square metre is €110.

Owners have extensive use of their property, however Croatian tourism regulationsstate that owners must make their apartment ‘available to rent’ when unoccupied. And Jupiter Adria will help ensure that all residences are professionally marketed and managed. Dubrovnik Sun Gardens is the only true family resort in the Dubrovnik environs that features such a wide and varied offering including rental inventory which continues to support the extremely high occupancy levels now being generated during peak season with continued occupancy growth projectedduring low and shoulder seasons. The resort has already been successful in positioning itself firmly as one of the leading meeting and conference destinations in Croatia hosting a number of blue chip conferences this year, namely Phillips, Motorola & Statoil, just to name a few.

Owners are entitled to 50% of rental revenue received by the operating company and the rules are that during the peak season (first full week of July to mid September) owners can use their residences for 35 days or 5 weeks. The managing company will then rent out the property for the rest of the season. The entire project is owned by Jupiter Adria Ltd, which was founded by a specialist team within Jupiter Fund Management plc, one of UK's leading fund and asset management specialists. The division has offices in Bermuda, London, Luzern and Zagreb and was founded in 2006, specifically with the aim of developing and operating luxury integrated leisure resorts in Croatia.

In addition to Dubrovnik Sun Gardens, Jupiter Adria has plans to develop three golf and spa projects in Istria in the north of Croatia, two marine resorts in the vicinity of Zadar, in northern Dalmatia and a mixed use resort on the island of Sipan, close to Dubrovnik.

The development is hoping to benefit from changes to the law of purchase enacted in 2009 which means that former restrictions on buying property no longer apply to EU citizens. The changes were introduced as part of the pre-accession agreement with the EU, a process that is expected to complete in the next two years. EU citizens now have the same rights to buy property in Croatia as Croatian nationals and the purchase process has been simplified for “The Residences at Dubrovnik Sun Gardens” with step-by-step instructions and local purchasing support. Non-EU citizens can purchase real estate in Croatia through the set up of an SPV (small purpose vehicle.) This has many tax advantages such as an interest and real estate depreciation system (which is tax-deductible.) VAT is refundable too.

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