Building Plot for sale, Dubrovnik, 2 450 000 €

Advantageous land plot for sale in Cavtat just 100 meters from the sea in the area on Hotel Albatros (ex Iberostar).
Excellent 4**** and 5***** star infrastructure is all around with multiple hotels, restaurants, boutiques, tennis terrains,sportand other facilities.
Cavtat is recognized as one of the tourist hotspots of the Southern Dalmatia just a few km from the international airport of Dubrovnik (Cilipi) and less than 20 km from super-popular Dubrovnik holding TOP charts of most visited Croatian destinations.
This area lacks residential construction. Shortage of villas and apartments for sale in this area is cca. 40-50%.
Land plot comes to the central asphalt road with central connections to water, electricity.
Total surface is 7000 sq.m. It is 190 meters long and 38 meters wide. Land has cascading structure rising up the hill with a panoramic view from the upper point.
Construction zoning - M1.
M2 zone of mixed construction. Price is 350 eur per sq.m.

Given the location, we would recommend to construct 7-8 modern villas with swimming pools of cca. 240 sq.m. each on land plots of cca. 700-900 sq.m.
Total brutto surface for construction of 8 villas of 200-240 sq.m. will be cca. 1920 sq.m.
Average cost of construction is 1500 euro per sq.m., i.e. total construction costs (including works and materials) will be 2 880 000 eur.
Project and supervision costs might be cca. 300 000 eur.
Communal tax will be cca. 100 000 eur.
Total construction costs will be roughly cca. 3 280 000 eur.
Total purchasing cost + construction costs amount to cca. 5,9 - 6 mln eur.

Realization cost of each villa might be cca. 1,5-2 mln euro. For 8 villas this amounts to 12 mln euro (basing on 1,5 mln euro cost per villa).
It is unique location, exeptional for residential construction in Cavtat and over Southern Dalmatia.

Additional costs borne by the buyer of real estate in Croatia:real estate sales tax(3% of real estate value),agency fee(3%+VAT on real estate value),attorney's fees,property registration fee(1%+ real estate VAT).

Additional costs borne by the buyer of real estate in Croatia: real estate sales tax(3% of real estate value), agency fee(3% + VAT on real estate value), attorney's fees, property registration fee(1% + real estate VAT).