Real Estate Dubrovnik
Dubrovnik is a city in the southern part of Croatia, situated on the Adriatic Sea coast. With its total population of 42 625 residents, it is the center of the Dubrovnik-Neretva county.
This stunning city records an increase in tourist attendance each year. No wonder, considering it is referred to as the pearl of the Adriatic. The most noticeable attractive factor is the architecture with its notable wall and fortification complex. The irreplaceable value of the old town is recognized not only by the tourism sector but also by UNESCO. The Old City of Dubrovnik was listed on the UNESCO World Heritage Site list in 1979. Dubrovnik has great connections with Europe due to its international airport, located near Cilipi (20km away from the city center). It is Croatia’s third-busiest airport with 2,896,227 passengers.
Neum area, which is a part of Bosnia and Herzegovina territory, separates the Dubrovnik region from the rest of Croatia. Despite that, the city has excellent connections, especially with city of Split. There are frequent bus lines, and from May until October, there are even catamaran lines.
One of the advantages is the A1 highway allowing the passengers to reach Zagreb without unnecessary detours.
Apart from being a Dubrovnik-Neretva county center, Dubrovnik is also an education center. It has several high education institutions, including international ones as well. The international institutions are Libertas University and Rochester Institute of Technology Croatia, facilitating the enrollment of Croatian and foreign students.
Life in Dubrovnik
Life in Dubrovnik is rather calm and slow-paced except in the summer months when the famous Stradun street is filled with travelers. During that time more businesses are opened and the city becomes a top attraction, even for the locals.
Besides coffee shops, wineries, restaurants and night clubs, there are also interesting events during the year. The most famous are the Dubrovnik Summer Festival and the Dubrovnik Film Festival that are worth checking out. In 2025 the city will host World Men’s Handball Championship which will be a thrilling event for all sports lovers.
Thanks to the Mediterranean climate and the great weather conditions it brings, engaging in outdoor activities is possible year-round.
Dubrovnik real estate market
The Dubrovnik area is an exclusive location for buying real estate in Croatia. This means that it is also the most expensive one on the Adriatic coast of the state. The area is safe, well connected, has all of the necessary facilities and is aesthetically appealing.
The walls around the city give off the illusion of living in a magnificent palace with an urban core. Due to its look, the city was chosen to be a filming location for numerous Hollywood films and famous series. The most famous ones are Game of Thrones and Star Wars: The Last Jedi. They brought the attention of international buyers and impacted the real estate market.
Being a hit destination, Dubrovnik slowly surpassed some European cities and established its popularity in the world.
Why buy Dubrovnik real estate?
Dubrovnik real estate market is quite specific. Most of the properties are bought for investment purposes, seldom for housing. A low percent of the buyers move to Dubrovnik permanently. They rather buy the property to have a holiday in the city for a few weeks during the summer months. Later, they rent it out until the end of the tourist season. That way the buyer gets a source of income and a beautiful holiday home.
The season usually starts in April and ends roughly mid-October. During the winter there are not many tourists, but festivities around the New Year attract visitors and the opportunity to rent accommodation opens up.
What is the best area for buying real estate in Dubrovnik?
The most attractive areas are the Old Town, Ploce and Lozica. Lozica is known as Millionaire’s Row with villas that reach the price of up to 3m €. As far as the Dubrovnik center is considered, it is mostly apartments for sale with a few old stone houses. The best location there is Stradun street, the focal point of Dubrovnik’s social life.
The Ploce neighborhood is the place where some of the most exclusive Dubrovnik hotels and villas are situated. Enchanted with a lot of greenery and captive views of the Old Town, many celebrities choose this part of the city for their stay.
For those looking into buying an existing seafront villa, it is necessary to search at the outside northern parts of the city.
Ston, Cavtat, Zaton and the Elaphiti islands will be great locations for buying a property near Dubrovnik at a more reasonable price. For other areas in Croatia please check Real Estate Croatia
Dubrovnik real estate prices
Dubrovnik has the highest prices of real estate in Croatia, mostly because it is considered an elite area. The prices of property have not been affected by market fluctuations due to the pandemic crisis. It is expected that they will stay high, particularly the unique buildings in Stradun street.
What is especially interesting is that Dubrovnik has the highest median price of apartments in Croatia, a whooping 15 000€ per square meter. For family houses, it is up to 12 000€ per square meter. If considering average prices, they are about 3 842 € per square meter for an apartment and 4 391 € per square meter for a family house with a garden.
The prices of real estate differ from area to area. Prices ranging from 5 000€ to 8 000€ per square meter are expected in the historic core area, especially if the property has a sea view. Comparing to Real Estate Split , prices are higher.
Although pricey, property in Dubrovnik is an excellent investment for those interested to enter the tourism industry.