Land investment deals Tudjemili near Bar Montenegro
AT LEAST 50% BELOW MARKET VALUE FOR A QUICK SALE. The law changed recently in Montenegro to allow foreigners to buy plots of land up to 5000 sq. meters without having to form a limited company. Key Points:
Three plots of land & a ruin with located in Tudjemili, a village 9 kilometres from/ above Bar, which have in total 4.553m2 of land and are so
ld at fantastic price of just xx EUR/m2 for a very quick sale! The olive grove plot has 741m2 and it is separate from the other two. Other two plots have 2.152 m2 (with 25m2 object) and 1.600m2 (with 48m2 ruin on it). The whole property is sold at 15 EUR/m2 but it is possible to buy the separate plots. Main features:
A stone ruin of 50 s m to rebuild
A footprint of 25 s m on the land
Mainly level plots
Easy access from road and service road through the main plot,
Electric supply on the road right by the plot
Water from own spring on the land
Gradient survey available
Mature olive trees
Distant sea views and view of Bar
We currently have 3 parcels of land for sale in a stunning mountain location, with a sea view, 9 kilometres inland from Bar, in the South of Montenegro. The location is to the side of a tiny village called Tudjemili. The land is just off to the road which links Bar to the beautiful Skadar Lake, which is about a 20 minute drive. The land has its own water supply from a spring and a stream as well as having electric nearby. Two of the parcels have objects (a ruin or a footprint) on the land which will give the owner an opportunity to build on the footprint without needed planning permission. However, when we bought the land in 2006 the area did not come under the ‘Urban Plan’, this may have changed or be in the pipeline. Obviously, the value of the land will rocket when the plan has been completed. We are marketing these parcels at just 15 euros per sq mt. The market value is more like 35-40 euros per sq mt. This is about 50% below market value. Comparable can be found on many online websites, where land & plots are for sale at up to 70 euros per sq mt in the area. In areas where the Urban Plan is in place, building land currently sells at 150-300 euros per sq. mt so the investment potential in Tudemili is excellent. Building cost are still relatively low in Montenegro, but property prices are high, especially along the coast and the lakes. Typically new coastal properties sell at 2000-3000 euros per sq mt and 1200-2000 euros per sq mt for inland property. Here are the details of the plots available:
Parcel ONE: 1700 sq mts . Flat land on one level, with a 50 sq mt semi-detached ruin. With easy access spring water on the land and electric a few meters away. We suggest 2 options for this. A/ Restore the ruin and extend it, this would leave you a fantastic large garden area to enjoy the stunning views. B/ Plan a development of 6-8 small villas or 8-12 apartments with a shared pool. Parcel TWO: 2152 sq mts Flat land on 2 levels with a 25 mt footprint. The views from this parcel are stunning all around. Easy access from the road with spring water & stream close by, electric a few meters away. We suggest dividing this into 5 plots of 430 sq mt and build 200 sq mt (100 sq mt footprints) detached villas with swimming pool. We have some images & ideas. Parcel THREE: 741 sq. mts Flat land in a lovely olive grove location about 20 mature trees and uninterrupted views towards the sea. We suggest building one 200 sq mt villa with a pool alternatively, trying to acquire the land in front of it of about 800 sq mts, which should be easy and you would then have space to build 2 or 3 villas. If you would like more info/plans/photos please contact us.
