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Plots are being sold at significantly below market prices: Prva Banka is selling land complexes in Budva at a more than favorable price

A bank majority-owned by businessman Aco Đukanović is "selling off" attractive land, with almost 35.000 square meters in Buljarica being sold for one million euros, and 24.796 square meters in Košljun for 2,5 million...

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Košljun Hill at the entrance to Budva, Photo: Vuk Lajović
Košljun Hill at the entrance to Budva, Photo: Vuk Lajović
Disclaimer: The translations are mostly done through AI translator and might not be 100% accurate.

Prva Banka is selling land complexes in Budva at a more than favorable price, for which it has been looking for buyers for years, publicly announcing prices that are much lower than the current market prices.

Bank majority owned by businessmen Aca Djukanovic announced that a large undeveloped land complex on the Košljun hill above Budva of 24.796 square meters is being sold for 2.512.700 euros. As stated, these are two plots, one of 10 thousand square meters whose price is 885.140 and the other of 14.796 square meters which is offered at a price of 1.627.560 euros.

"The property is located in the Košljun settlement along the main road Podgorica - Cetinje - Budva on the right side, 4,7 kilometers from the Old Town in Budva. The terrain of the plot is uneven and overgrown with Mediterranean vegetation. There are no infrastructure connections for water, electricity, sewage, etc. Currently, there are no conditions for construction," the ad, which "Vijesti" has seen, states.

The price has also been announced for a land complex in Buljarica, currently the most attractive area in Budva, given the great interest from Arab investors. The land measuring 34.997 square meters is offered for sale for 1.070.300 euros.

"The land is located in the Budva settlement of Buljarica, which is located above the main road Bar - Budva, on the right side, in steep terrain, about 750 meters from the main road. The land is about two kilometers as the crow flies from the sea (three kilometers from Petrovac, 15 kilometers from Budva). The land is not urbanized," the ad states.

Attractive location: Buljarica
Attractive location: Buljaricaphoto: Shutterstock

A 1.358 square meter plot of land in Lučice near Petrovac is for sale, offered at a price of 420 thousand euros.

"The property is located below the Petrovac - Bar highway, in the settlement of Lučice, about 300 meters as the crow flies from the sea and is undeveloped. An uncategorized road of approximately 150 linear meters leads to the plot. It is possible to bring the following infrastructure to the plot: electricity and telecommunications installations, from existing facilities," the ad states.

The price for an urbanized plot of 1.925 square meters in the Budva settlement of Podkošljun has also been announced, and the buyer is asked to pay 750 thousand euros.

"The land is located at the entrance to Budva in the Podkošljun settlement, about 220 meters when you turn right from the roundabout on the bypass. The land is about 370 meters (as the crow flies) from the sea with an open view. The land is within the scope of the Detailed Urban Plan "Podkošljun", on which the construction of a residential and commercial building with a gross construction area of ​​1.412 square meters is planned, with a garage, ground floor and two floors," the ad reads.

A plot of land measuring 1.237 square meters is being sold at a bargain price of 55 thousand euros in the Kruševica settlement above Petrovac.

"It is located on the third kilometer of the Petrovac - Virpazar road, on the right side, from which it is about 200 meters away on an asphalted country road, and then on a pedestrian path. The terrain on which the plots are located, which border each other and form a single unit, is rocky and divided into several levels by retaining walls. There are no built structures on the plots. They offer a view of the sea," the ad states.

Prva Banka has also announced the price for a 4.095 square meter plot in the Kuljače settlement above Sveti Stefan. The attractive plot has been offered at a price of 210 thousand euros.

"The subject land is located in the Kuljače settlement. It is located 2,5 kilometers above the main road Budva - Petrovac, near the old village school, a place called Bućina njiva. The land is a plateau on hilly terrain above the main road, accessible by a local asphalt road of 2,5 kilometers and a macadam road of 200 meters. It is located at an altitude of 350 meters. It has an open view of the sea. Of the communal infrastructure on the plot, there is the possibility of connecting only to the electricity network, and there are several water sources on the location. Luxury villas have been built in the wider vicinity of the subject plot. It is agricultural land," the advertisement states.

1.600 square meters at the very entrance to Petrovac are being sold at a more than affordable price, for only 330 thousand euros.

"The property is located on the left side of the entrance road leading from the Adriatic Highway to the center of Petrovac. The subject land is accessed by turning right from the Adriatic Highway, heading from the direction of Budva towards Bar. The bus station in Petrovac is approximately 450 meters away. The subject land offers a view of the sea and the surrounding land. The location's traffic connections are excellent," the ad reads.

The only amount is not available for Aco Mijajlović's plot in Miločerski Park.

The only price not announced is for the most attractive property - a land complex in Miločerski Park measuring 6.286 square meters.

At the beginning of February this year, the bank returned ownership of the plot, which it had sold four years ago to the Podgorica-based company "Easy Drive" owned by businessman Aleksandar Aco Mijajlović.

As "Vijesti" then announced, on the same day, November 15, 2021, by reviewing the cadastral records, Prva Banka transferred two attractive properties - the former "Titeks" resort in Bečići to the construction company "Bemax", as well as land in Miločerski Park to Mijajlović's company.

As the real estate register stated at the time, 6.286 square meters at the Miševina location were registered as the property of the Podgorica-based company "Easy Drive", and the basis for the acquisition was purchase. At the same time, a mortgage from Đukanović's bank in the amount of 5,1 million euros was registered as a burden on the land.

The bank recently sold an attractive plot of land on the city bypass in Budva, right next to the new business shopping center "Mega Mall" for 2,1 million euros.

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