Blato - Vela Luka - Orebic

Korčula, a small Croatian island nestled in the Adriatic Sea, boasts a rich history that dates back to prehistoric times. The island, nicknamed 'Little Dubrovnik', is home to preserved medieval squares, churches, and palaces, standing as a testament to the sophistication of its history. Placing an emphasis on architecture, Korčula showcases a blend of Gothic, Renaissance, and Baroque styles set against the striking background of the Adriatic's turquoise waters. Strategically situated in Southern Dalmatia, Korčula is surrounded by other Adriatic islands such as Hvar and Mljet, offering a unique picturesque setting.

Exclusive Property Market in Korčula

The exclusive property market in Korčula remains relatively stable. With the increasing acclaim of the Croatian coast, there's consistent demand for luxury homes and apartments in the area. However, due to the exclusivity and limited availability of high-end real estate, supply sometimes struggles to keep up with the demand.

Political and Economic Situation

The political and economic backdrop of Korčula is generally stable, with Croatia, including Korčula, being part of the EU since 2013 and enjoying continuous economic growth.

Cost Considerations in Buying Property

Several costs are associated when buying a luxury home or apartment in Korčula. These typically include a real estate commission, transfer tax, notary fees, and possible construction inspection or legal costs. Both buyers and sellers usually pay an average real estate commission. The transfer tax on private property is also applied, as are income and wealth taxes. Specifically, any profit made when selling a privately-owned home or apartment, whether as a main or second residence, is taxed. Companies registered in Korčula are also subject to a corporate tax on profits.

Mortgage Requirements

The mortgage requirements in Korčula follow the general Croatian guidelines with respect to the ratio between own and foreign capital and income requirements. The mortgage one can obtain on the purchase price may vary depending on individual financial circumstances and the specific bank's policies.

Premium Residential Areas

Korčula houses some of Croatia's most prestigious and sought-after neighborhoods. The most desirable are often those with panoramic ocean views and easy access to the island’s amenities.

Accessibility

Korčula is easily accessible via road from the mainland and boasts several ferry connections. The nearest big city is Dubrovnik, which is about a 120 kilometer drive away. The island is also served by two airports: Dubrovnik Airport (international) and Split Airport (both national and international).

Education & Institutions

There are quality educational establishments available in Korčula, including both primary and secondary schools.

Province & Population

Korčula is located in the Dubrovnik-Neretva County, and it has a population of around 16,000.

Nature and Climate

The island is known for its beautiful landscapes, characterized by dense forests, vineyards, and olive groves. It offers a Mediterranean climate with hot summers and mild winters.

Sports, Lifestyle & Leisure

Korčula offers an active lifestyle with opportunities for sports like sailing, cycling, diving, and more. For those seeking a leisurely lifestyle, there are a plethora of luxury shops, high-quality hotels like the Lesic Dimitri Palace, well-known restaurants such as Filippi Restaurant, and stylish nightlife.

Historical & Cultural Events

Korčula is known for its Moreska, an event that is a traditional knightly sword dance and drama that dates to the medieval times. There are also several museums and art galleries throughout the island.

Healthcare Facilities

There are healthcare facilities in Korčula including a general hospital and an emergency clinic.

Infrastructure & Amenities

The public infrastructure in Korčula is well-developed, with a considerable investment having been made in the last few years. The island offers modern amenities synonymous with the luxury lifestyle it's known for.