Croatia’s Dalmatian Coast is yachting heaven – with distances perfect for island hopping. To the south, Porto Montenegro in Boka Bay has been a success with wealthy yacht owners, with 450 berths available on long-term leases and 200 private properties sold since its launch in 2009.
«Other locations in the eastern Med offer relative bargains to the old stalwarts further west. Cyprus is one, with its banking crisis behind it and a resurgent property market»
New one-bedroom properties are for sale from €409,000 (portomontenegro.com). Other locations in the eastern Med offer relative bargains to the old stalwarts further west. Cyprus is one, with its banking crisis behind it and a resurgent property market drawing yachting types who might have previously headed to Turkey and Lebanon, according to Stavros Caramondanis, the boss of Ayia Napa’s new marina development.
The lively resort in the south-west of the island is attempting to become more upmarket with this €220 million project. “Around a third of property purchasers so far are boat owners attracted by the year-round sunshine that extends the boating season, plus the lower cost of keeping a boat in Cyprus than in countries like France or Italy,” he says.
A two-bedroom villa in Limassol Marina starts from €2.15m
“The dry stack [vertical storage system] will be the first in the eastern Mediterranean,” he adds. Properties in two twisting towers currently start from €740,000 for a two-bedroom apartment, although more one-bedroom units will be released next year, with completion in 2021. The 600-berth marina will open in 2019.
Also on the south coast at Limassol Marina, with its 1,000 berths, is a 66ft yacht mooring, which costs €22,500 per annum. Properties on this mixed-use development have been sold to 27 nationalities and there’s a 50/50 split between locals and foreigners leasing berths. The marina has just released its final phase of properties, 61 one- to four-bedroom Castle Residences on a private island, with prices from €1.45 million (limassolmarina.com). There are also plans for two new large marinas in Cyprus, at Lanarca and Paphos.