Property: Olive Bay Hvar

3 November 2016

On a premium location on Hvar, a popular summer destination in the Adriatic Sea, lies the 60,000 m2 waterfront site known as Olive Bay. It is the first of its kind in Croatia, offering crystal clear water, sandy beaches and beautiful sunsets.

Olive Bay is divided into smaller plots, and construction is ready to begin, with all permits and connections to infrastructure in place. The front row villas are located only a few meters from the sea – unique in Croatia. Zoning is residential and buyers are able to establish freehold ownership of the properties. It is possible to build a 500 m2 luxury villa in Olive Bay for EUR 1.3 million including the land, swimming pool, landscaping, and with all fittings and interior design.

Future buyers can expect a potential return on their investment, not only through capital appreciation growth, but also through rental income. There is significant demand for luxury accommodation in Croatia, especially on Hvar Island. Similar villas are currently rented during the summer season for EUR 7,000 – EUR 10,000 per week, and occupancy is 15 – 18 weeks per year. The site’s perfect orientation gives every plot views of the entire bay and full exposure to the beautiful sunsets.

Future buyers can expect a potential return on their investment, not only through capital appreciation growth, but also through rental income. There is significant demand for luxury accommodation in Croatia, especially on Hvar Island. Similar villas are currently rented during the summer season for EUR 7,000 – EUR 10,000 per week, and occupancy is 15 – 18 weeks per year. The site’s perfect orientation gives every plot views of the entire bay and full exposure to the beautiful sunsets.

Hvar Island is considered one of the top destinations on the Adriatic coast, attracting a large number of tourists from across the world. A natural wonder, Hvar is a lifestyle destination with a rich culture and tradition. The Stari Grad Plain, an agricultural landscape which has been in use since the ancient world, is a UNESCO World Heritage Site. Renowned for its beauty, vibrant nightlife and great cuisine, the charms of this unique island are bound to captivate any visitor. Hvar also has many secrets that remain hidden from the eyes of less discerning visitors, including the numerous layers of history that are inscribed in the very fabric of the island. Long before the arrival of modern times, people recognized the quality of life on this island, which boasts the title of the sunniest island in Croatia. There even exists an old saying which states that those who drink Hvar’s water once are bound to return. If you visit, you will have the opportunity to enjoy the best of both ancient and modern times in one place – or, if you wish, simply to enjoy the sunshine.

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