As part of our coverage on real estate issues, we are pleased to bring you a Q and A with Simon Ward of the Kavanjin development in Sutivan, Brac.
Can you tell us something about this development, in particular why did you choose Sutivan on Brac as its location?
Kavanjin is a luxury development of 1,2,or 3 bedroom apartments built to a high standard in the charming coastal village of Sutivan.
We chose Sutivan because of the package that we feel it offers buyers looking for a second home property, coupled with the fact that we feel that Sutivan has much to offer in terms of a growing destination for those seeking a peaceful retreat yet within easy reach of facilities and a stunning environment.
What point has the development reached?
Well we are delighted to say that we have completed phase 1 of the development which combines blocks 9,10,11 and 12, and these have been selling well , block 9 is completely sold out and there are only a few apartments remaining in the other blocks, we anticipate the development being completed during 2011.
How long did it take to get the go ahead for the project? Were there any local difficulties?
In all honesty we had no more difficulties than you would expect to encounter here in the UK, same with time frames, apart from the legal work needing to be scrutinized and the title explored and secured it was very much on par with a UK process.
How will the development blend in with Sutivan?
Because we used local architects who are familiar with local expectations we feel that Kavanjin blends in really well with the rest of the area, aesthetically they maintain the look that is synonymous with its location and it sits comfortably alongside the existing stock of Sutivan properties.
How has the current economic climate affected purchases?
I would be lying if I said we hadn’t been affected by the international downturn, like all other developers we saw a constricting of our sales activity over the course of the downturn, however we have seen the last 4-6 months a significant uplift in enquiry levels along with increased buying trips to visit the development and the area.
At CBR we get feedback regarding bureaucratic issues that crop up for those buying property. Is this a concern people raise with you?
Again, maybe we have been lucky, but apart from a sluggish response on occasions, our buyers have not told us these are issues they have come across.
How do you see the real estate/property market for foreign buyers developing in Croatia?
We are confident that the market will continue to grow in Croatia, it is still an area that seems fairly undiscovered by British buyers and we are trying, along with others, to raise the profile for the availability of quality properties in Croatia. Other parts of the European market have already discovered Croatia, so it can only be a matter of time before British buyers discover its charms for themselves.