Resicom – Holiday Investment – 04-21 – LB

Mamma Mia! Here Vis Goes Again

The Croatian island of Vis has long been forgotten by overseas property investors, but the arrival of the cast and film crew to film the sequel to blockbuster film Mamma Mia has put the tiny island back on the map.

Much quieter than its island neighbours of Brač and Hvar, famous for its super yachts, Vis has long gone under the radar for overseas property investors. However, with two charming Venetian-style stone villages, stunning beaches and 60 square miles of olive groves, vineyards and ­national parks, the island can make an ideal getaway for those seeking peace and quiet.

By the time Croatia gained independence in 1992 it had been occupied by the Yugoslav army for 50 years with no tourism allowed, therefore ensuring that the island remains completely unspoilt, protected now by stringent Croatian planning laws.

Situated just 26 miles from the city of Split on the southern end of Croatia, Vis can be reached relatively easily by catamaran in one and a half hours, following one of the daily flights into Split from the UK.

Now that filming of Mamma Mia! Here we go again has been completed, with Vis acting as the fictional Greek island of Kalokairi, the small Croatian island with a population of just 3,500 is expected to be subject to a huge surge of interest from property investors.

The precedent has already been set by the original film which was set on the Greek island of Skopelos. Property investor interest rose by 120 per cent on Skopelos following the first film according to PropertyIndex.

Two of the main areas on Vis are Vis Bay and Komiža on the north of the island where most of the coastal scenes in Mamma Mia! were filmed. Both have a surprisingly lively social scene, with many of the most famous restaurants in the Split region situated in Vis Bay.

There are also stunning beaches and coves to found on Vis – Stiniva is backed by a natural amphitheatre of cliffs, and Stoncica, east of Vis Town, has a renowned restaurant, Konoba Stoncica, which was taken over by Pierce Brosnan and his wife during filming.

However, it is not going to be that easy for overseas property investors to invest in Vis. There is not a huge supply of property for sale on the island, and a lack of local agents can make finding suitable property purchases tricky to find.

As a guide there is a dilapidated stone farmhouse with barns in the south of the island, in need of restoration, currently for sale for €140,000. While a three-bedroom villa with a pool near the beach is on the market for €250,000. A spacious two-bedroom flat on Vis would generally cost around €140,000 with no restoration required.

Croatia has been developing as a destination for overseas property investors for years now, mainly around the capital of Dubrovnik, which itself was boosted by the filming of blockbuster series Game of Thrones.

Now it seems that the Split region will have its time. Prices in Split, Brač, Hvar and indeed Vis are still currently very good value, and are expected only to rise. Here we go again!


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