Overview

The Lapad area of Dubrovnik is an exclusive and protected area and apartments in this location of this quality seldom come on the market.

• The location and quality of the development will lend well to capital appreciation and as the Lapad area is a predominant tourist area in Dubrovnik, strong rental yields are anticipated.
• All regulatory building permits have been received and site clearance has commenced and the anticipated completion date is late 2005.
• Dubrovnik is a well developed tourist destination for some 50 years past catering to French, German, Italians and increasingly so, Irish and British tourists. The tourist industry currently stands at 50% of the levels achieved 10 years ago. Recent experience shows a major shortage of tourist accommodation at current tourist rates. (Strong yields).

About the Development

New Release to Dream Property Croatia.

The development and construction of The Lapad Resort apartments is underwritten by an international group with a proven record of successful delivery of construction projects in Ireland, the UK and Europe.

Key highlights are

• The development is offered with the option of a full resort management and rental agreement.
• The development is offered with a 2 year construction guarantee.
• The apartments are over 4 floors plus mezzanine with secure parking on the ground floor level.
• The apartments offer stunning views over Lapad Bay and are located within 5 minutes walk of the beach area, restaurants and major hotels.
• While close to all local amenities and 10 minutes from the Old Town of Dubrovnik, the apartments are located in a quiet cul-de-sac area.
• In keeping with the Dubrovnik regions conservation laws, the Lapad Peninsula is predominantly designated as ‘green zone’ and as such offers beautiful rural and seaside walks.

Location

This development is situated in an area of Dubrovnik called Gruz, an established residential area. The development is South facing with 180 degree stunning views of the sea, residential area of Lapad, Dubrovnik Port and the Marina. The complex is 3 km from the Old Town. The apartments are just strolling distance from local amenities such as the charming fish and vegetable markets, shops, banks, post office, medical center, Dubrovnik Port and Marina etc.

The Apartments

A choice of apartments are offered ranging in size from 68 to 115 meters square with terraces and gardens.

The apartments come as standard with

• High quality fitted kitchen with the option for the buyer to choose the final finish.
• All apartments come with air-conditioning and double glazing.
• All apartments feature terraces
• Each apartment comes with undercover secure parking at street level
• The apartments range from 68 to 113 square meters.
• External areas are fully landscaped.

Investment Opportunity

• Prices for the Lapad Resort Apartments range from €215,000 - €240,000 for a 2 bedroom apartment on the ground and first floors.
• Top floor apartments with mezzanine range in size from 101-113 M2 and are on offer from €325,000 to €360,000. All prices include PDV (VAT).
• Property prices in the Dubrovnik area have appreciated in the region of 30% per annum over the past three years and strong growth is anticipated in Lapad.
• Apartments in the Old Town area of Dubrovnik are achieving prices of €5,000 - €6,000 per m2.
• Major European airlines including British Airways and Aer Lingus are servicing Dubrovnik daily. Each year, over the past 5 years, has seen considerable growth in tourist numbers in the region.
• The Aegean Ionian motorway, currently under construction, will integrate Croatia with the Mainland European motorway network. This motorway, now operational to Split, is planned to reach Dubrovnik in 2007.

Payment Schedule

A reservation deposit of €5,000 is required, offset against payment 1.