Tag Archives: Spes real estate

Dubrovnik Real Estate Market Trending? By Srđ Portolan

Srđ Portolan talks about digital millenial generation which on the international property markets is willing to take risks when it comes to investing into SEE markets. Portolan, in his capacity as a director of Spes real estate agency which is part of his Intercon Group of Companies, remarks that more younger professionals are ready to take on a challenge of entering the business property ladder in the Old City of Dubrovnik. What is more, Srđ admits that more often than not this is not an easy task, because it often means that by purchasing a run down house they quit their highly paid jobs in return for hard working, long term return yielding jobs of B&B owners. According to the well established Croatian property website Centar Nekretnine upward cost of renovation per sq/m in the Old City may come up to 1500 Eur. In spite of the former, Dubrovnik invasion of foreign property developers could be compared to that of Syrian and other refugees who are droving into Germany. The recent Deutsche Bank reports are announcing the stagnation of the German GDP. In Croatia and Dubrovnik as tourist season 2015 is coming to close, the Croatian Ministry of Tourism is announcing that tourist season 2015 was the record one in the terms of the net profits. Srđ Portolan concludes that this gives a boost to the Croatian economy at time when the GDP is expected to grow 1% by the end of the year.

Srđ Portolan also advises future investors to choose their legal representatives wisely. Srđ has been co-operating successfully with Viktorija Knezevic and Marina Maslek Law Office in Dubrovnik over the years. Portolan tells us is that what he likes about Viktorija Knežević who has accomplished herself as a successful read experienced civil and merchant lawyer is her direct approach and Viktorija’s tons of experience, primordial when purchasing your private or business property as what you really need to open your eyes about is property’s clean title. Yet another thing that Viktorija Knezevic and Marina Maslek Law Office in Dubrovnik can advise you about is which route to take while purchasing your property: private or business one. It pays to know that sometimes business route is the right choice when buying a private property.

Srđ Portolan is a director of Spes Real Estate Agency and the director of Dubrovnik Luxury Travel, companies which fall under umbrella of Intercon Group of Companies.

Viktorija Knezevic and Marina Maslek is a Law Office in Dubrovnik specializing in civil and merchant law.

Dubrovnik and its future perspective in tourism industry.

Before I embark on writing these lines I would to point out that by no means am I an expert in the field that is to say that I hold no masters degree in tourism management. What I do have is first class information, gathered through association with people who work in Dubrovnik tourism industry, present and those who have done so for the past 30 years.

The so called new economy has developed at the speed of light, accompanied with the new technologies and the internet has made the planet Earth a rather small globe.

As the author of these lines, throughout my life, I have lived in London, Barcelona, Aix en Provence and Moscow at the end of the last century. Every time when I was asked where did I come from and when I answered Croatia what would follow would be that famous question which would resonate for me in the annoying way : “where was that?”. On the contrary, when the answer was Dubrovnik what would follow were the nods of approval and smiles on people’s faces with that famous sentence.” Oh I was there”, “Beautiful city”. Say noDubrovnik Old City Carmen more I thought to myself as I was admiring the power of panel advertising on London Underground tube stations. Only these days at the beginning of the 21 century there are millions of Dubrovnik panels on the internet and with direct channels of selling planes, hotels, villas for holidays, the scopes are enormous up to the point that the people as far as Brazil jump on their planes and come holidaying to Croatia and Dubrovnik.

The opinion of the locals regarding the future of their city is divided. While some recognize the need for progress and see imminent the construction of new five star hotels, real estate villas and apartments others strongly oppose it. A typical example was a golf project on Srdj Hill overlooking Dubrovnik when the calls were being made that this was an eco genocide which had the makings of a luxury villa real estate project. For all I know the owners of the “pastures” were paid promptly, in other words someone invested their time and money and personal reputation not only to earn money but to bring money to Dubrovnik. Golfers are people with huge disposable income and they choose to stay in modern urban accommodation. Now when I think that there are only six golf courses in the whole of Croatia and four of them are in Istria my maths is telling me that we are lagging behind. Golfers are also highly educated business people and they more often than not choose to host their incentives and business conferences in places where they can play golf. I am not a member of golf lobby but I just follow the logic that arrival of rich clients would make space for quality content in the Old City. Think of all high quality restaurants, Dubrovnik Old City St Mary'sart galleries, clothes boutiques, jobs in the construction industry, jobs in the service industry. And let me get this straight to you. If anything we need high quality real estate projects if we are to sustain the development of our tourism industry in the future. As I have outlined above, times have changed. With the arrival of globalization and new technologies the competition has increased and people with high disposable income got used to being “pampered” around the globe. So even if they are to fall in love with views over the island of Lokrum and the Old city while they are staying in the hotels such as Excelsior, Argentina or villas such as Victoria, Agave, Glavic,Dubrovnik and Sheherezade these rich clients cannot purchase a modern urban villa so that they can repeatedly return to Dubrovnik and Croatia.

Dubrovnik Luxury Travel  has teamed up with Spes Estate, Dubrovnik’s most reputable real estate agency.

Srđ Portolan, DLT’s member of the management board has signed business co-operation agreement with Mr Frano Bezić of Spes Estate Dubrovnik. Mr Bezić stressed out that luxury travel and real estate go hand in hand as they complement each other. Clients arriving to view houses on sale and apartments on sale in Dubrovnik are serviced by the likes of Dubrovnik Luxury Travel and vice versa. Currently there is a huge land development in Dubrovnik’s most favourite quarter Ploce on sale, 52 000 m2 with planned construction of modern day villas. Mr Bezic stressed out that among luxury travel holidaymakers there are always successful businesspeople, potential real estate buyers and investors alike.