Lun

Lun occupies the narrow northern tip of Pag island, inside the town of Novalja and Lika-Senj County. The 2021 census counted 148 residents. The main village sits on a hill above the sea, with the hamlets of Jakišnica, Dudići, Varsan, Potočnica and Tovarnele strung along the coves below. Its signature is the Lun olive groves: about 80,000 trees, including roughly 1,500 wild olives on some 24 hectares that have been a protected botanical reserve since 1963. Some trees are estimated at more than 1,500 years old. In summer, Jadrolinija catamaran line 323 calls at Tovarnele harbour on its run to Rab, except on Wednesdays. Lun is the opposite end of the Novalja market from Zrće beach, which lies about 25 km south. Buyers here want stone houses and villas among the olives, not party-season lets. Novalja municipality asked an average of €3,613/m² in September 2026, up 3.6% on a year earlier. No village-level series exists, and quieter, older stock in Lun is likely to sit at or below that figure. The rental window is short, mostly July and August, so a 3-4.5% gross yield is an estimate to test against your own costs rather than a measured return.

Lun in Novalja, Lika-Senj County, Croatia