Western Istria, near Umag | Four premium apartments | Outstanding investment opportunity

Description

Ready-to-develop residential project with building permit, sea view and construction already started

Western Istria, near Umag | Four premium apartments | Outstanding investment opportunity

A rare opportunity to purchase a partially built residential project in one of the fastest-growing real estate markets in Istria. Located in a quiet residential area near Umag, this project combines a fully approved investment with significant construction work already completed, substantially reducing investment risk while offering excellent profit potential.

The project comprises a modern residential building with four premium apartments, with a total gross floor area of approximately 423 m2, located on a building plot of 499 m2. The approved design includes an underground garage, wellness area, fitness room, pool and jacuzzi. One first-floor apartment and the penthouse are designed with a beautiful sea view.

A final and legally binding building permit has been issued, and construction has already begun. The excavation works and the reinforced concrete structure of the underground garage have been fully completed, giving the future investor a significant time and financial advantage.

An independent court expert has valued the current state of the project at approximately EUR 441,000, while the property is being sold for only EUR 370,000, representing an extremely attractive opportunity to buy below the professionally assessed value.

The estimated investment required to complete the project is approximately EUR 800,000, bringing the total investment to around EUR 1.17 million. Based on current market conditions and comparable premium projects in the area, the expected market value of the completed project is estimated at approximately EUR 1.6 million, offering exceptional potential for both investors and developers.

There are no outstanding liabilities related to paid utility contributions or the construction work carried out to date. The property has complete infrastructure on the plot and is sold within the VAT system, which may represent a significant tax advantage for qualified investors.

Key features

- Residential project with 4 premium apartments
- Gross floor area: approximately 423 m2
- Building plot: 499 m2
- Final building permit
- Construction underway
- Excavation and underground garage structure completed
- Underground garage
- Wellness area
- Fitness room
- Pool
- Jacuzzi
- Sea view from the penthouse and one first-floor apartment
- Court-assessed current value: approximately EUR 441,000
- Sale price: EUR 370,000
- Estimated investment to complete: approximately EUR 800,000
- Estimated total investment: approximately EUR 1.17 million
- Estimated market value on completion: approximately EUR 1.6 million
- No outstanding liabilities related to paid utility contributions and completed construction work
- Documentation prepared for future individual apartment sales
- Excellent opportunity for development, resale or rental investment
- The property is within the VAT system

Connections

- Electricity
- Mains water supply
- Mains sewerage
- Telephone connection
- Paved access road

Viewings

Private site viewings can be arranged by prior appointment.

Your satisfaction is our mission. We look forward to future cooperation!

Viewings of properties are arranged after the prior signing of a brokerage agreement, in accordance with the Real Estate Brokerage Act.

The brokerage commission is 3% + VAT and is paid upon signing the preliminary agreement or the final purchase agreement.

https://nekretnineistra.hr

Built on trust. Driven by results.

AGENCY ID CODE: ALG-4099

Michaela Mardonović
Real estate consultant
Mob: +385 95 363 1894
Tel: +385 52 204 933
E-mail: michaela@alphaluxegroup.com
https://alphaluxegroup.com

Robert Budimir
Licensed agent
Mob: +385 95 363 1892
Tel: +385 52 204 933
E-mail: robert@alphaluxegroup.com
https://alphaluxegroup.com

This listing text has been translated automatically; the Croatian original is authoritative.