Western Istria, near Umag | Four Premium Apartments

# Construction Project with Building Permit, Sea View, and Already Started Construction Work

### Western Istria, near Umag | Four Premium Apartments | Exceptional Investment Opportunity

A rare opportunity to acquire a partially completed residential construction 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 development with extensive construction work already carried out. This significantly reduces development risk while offering excellent profit potential.

The project includes a modern residential building with four premium apartments and a gross floor area of approximately 357 m² on a 499 m² building plot. The approved concept includes an underground garage, a wellness area, a fitness room, a swimming pool, and a whirlpool. Both an apartment on the first floor and the penthouse were designed with beautiful sea views.

A legally valid building permit is in place and construction work has already begun. Excavation work and the reinforced concrete structure of the underground garage have been completed, providing the future investor with a significant time and cost advantage.

An independent court-certified valuation has estimated the current value of the project in its present state at approximately 441,000, while the property is offered for sale for only 370,000. This represents an extremely attractive purchase opportunity well below the professionally determined market value.

The estimated investment costs to complete the project amount to about 800,000, resulting in a total investment volume of around 1.17 million. Based on current market conditions and comparable premium projects in the region, the market value of the completed project is estimated at about 1.6 million, offering excellent potential for both developers and long-term investors.

There are no outstanding obligations related to already paid infrastructure contributions or completed construction work. The plot already has full infrastructure and is subject to VAT, which can offer significant tax advantages for eligible investors.

## Main Features

* Residential construction project with 4 premium apartments * Gross floor area: approx. 357 m² * Building plot: 499 m² * Valid building permit * Construction work already started * Excavation and underground garage structure completed * Underground garage * Wellness area * Fitness room * Swimming pool * Whirlpool * Sea view from the penthouse and an apartment on the first floor * Court-certified current value: approx. 441,000 * Offer price: 370,000 * Estimated investment for completion: approx. 800,000 * Estimated total investment volume: approx. 1.17 million * Estimated market value after completion: approx. 1.6 million * No outstanding obligations regarding already paid infrastructure contributions or completed construction work * Prepared documentation for future individual sale of the apartments * Excellent investment for project development, resale, or rental * The property is subject to VAT

## Utilities

* Electricity * Public water supply * Public sewage system * Telephone connection * Paved access road

## Viewings

Private viewings of the property can be arranged by appointment.

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

Property viewings are organized after prior signing of a brokerage contract in accordance with the Real Estate Brokerage Act.

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

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All available properties and premium offers in the region: Umag