The People, Properties, and Prices for the New Sotheby’s in Split

Daniela Rogulj

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“Sotheby’s International Realty”, a network of companies for marketing luxury properties around the world, which stemmed from the world’s most famous auction house “Sotheby’s”, is coming to Croatia. The first office will open after the New Year in Split and will be located in the hotel complex “Le Meridien Lav”.

“Sotheby’s”, as TCN mentioned before when first announcing the opening, operates in 65 countries with 840 offices and networks. The new Croatian location is thanks to Marko Pažanin, a young entrepreneur who became the director of “Sotheby’s Croatia”.


Slobodna Dalmacija reports on 18 December 2016 that being the selected company of the franchisor “Sotheby’s International Realty” was not easy, and Pažanin’s company “Porta Stella Luxury Estate” had to fulfill a number of conditions…but we’re pretty sure the tourism potential of Split also played a significant role. Here is the future of Sotheby’s in Croatia, according to the new Croatian Director, Marko Pažanin.


“The fact that ‘Sotheby’s’ has chosen Croatia for the expansion of its network of offices for real estate growth confirms the reputation of our country in the world. The popularity of Croatia is currently growing among tourist destinations, and our goal is to bring as many customers who will have their second or third home in Croatia, and to encourage potential investors to invest.


The focus of most of our overseas customers are the luxury villas by the sea, and it will be logistically easier to do business in Dalmatia, and Split. And, most importantly, Split is a wonderful city in which our potential customers will certainly enjoy during their stay,” said a convinced Pažanin, noting that this will bring benefits to the city since this office will have direct access to a global network of investors and direct contact with buyers of luxury properties from around the world.


What are some of the interesting real estate clients of the agency?


“Those that keep up with the style of life that customers with a high purchasing power cherish. This means that we, aside from having a villa by the sea, have to have interesting real estate close to the golf courses and castles in the continental part of the country. What will be interesting to us are the luxury projects that demand a serious business partner,” says Pažanin.


What would be some of the top sites?


“This portfolio does not have properties that would have been particularly interesting, however, the state has them. For example, the average ‘Sotheby’s Real Estate’ customer would want an interesting Czech villa on the island of Vis,” says Pažanin.


Pažanin added that most interesting to buyers are the the top-locations in a secluded place by the sea, followed by properties in historic town centers.


The average market value for real estate is between 2 and 3 million euros, and Pažanin denies that the prices of luxury properties in Croatia are reasonably priced compared to similar properties in Europe. But when you add in our preffered locations, the historical heritage of our cities, and the accommodation facilities by the sea…


“Most of the properties that we offer we will be exclusive, and in the first year we plan to offer a several dozen properties. The quality of our properties is primary in relation to the quantity, and the market luxury real estate in our country is still in its infancy,” says Pažanin, who added that only two people are required for employment in the office, and by the end of the year five employees will be hired, provided that the company has partnered with other real estate agents.


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