Russians Interested in Attractive Locations Near Trebinje

February 9, 2013 12:20 PM

The value of land in the area of Trebinje designated for building sites has begun to increase thanks to a larger interest of foreigners, most of all Russians, who in the last two months are buying up attractive locations in areas surrounding Trebinje regardless of the price, says Press RS.

On the border with Montenegro, in the areas of Aranđelovo and Jazina they intend to build luxury estates and enjoy the natural beauty of this area.

The owner of real estate company “Tviko” Vaso Milić says that the location surrounding Trebinje can now be bought at prices of 20.000 KM for 1.000 square meters, and that what is mostly requested are huge parcels of land bigger than 10.000 square meters.

‘’In the last two months we have mediated in the negotiations for the sale of 20 parcels in Aranđelovo and Jazina. Russians are interested in the locations around rivers that flow through these places, and they want bigger space. The rush is due to the fact that citizens of that country can obtain a one-year residence permit without any problems, and are able to register their cars in their name. Also, the procedure to obtain a building permit is easy’’, says Milić.

On the other hand, local buyers are mostly interested in the area that leads towards Dubrovnik, and according to Milić, recently a total of around 200,000 square meters of building sites have been sold.

‘’Our people are buying land in areas near Dubrovnik in order to build a weekend home. This is a logical decision, because they are located within around 15 minutes from the sea. Thus, like the Russians they are also looking for huge plots of land. Last week we sold 2 plots of about 10,000 square meters in that area. Most of the buyers came from Banja Luka, but recently we have had more buyers from Serbia’’, said Milić.

The government has a great interest in houses located in Ivanica, which is located in the FBiH and borders with Croatia and is only seven kilometers from Dubrovnik.

The prices of houses on average are more than 1.500 KM per square meter, although there are many luxury villas that are far more expensive.

From 2006, foreign investors recognized the great potential of Ivanica as a popular tourist area, which would be used for building neighborhoods for vacation and recreation. Thus, RDF (Reconstruction Development Fund) from Geneva made a preliminary design of 800 homes and 400 apartments, a sport-recreational center with two golf courses and a golf club, a central square and amphitheater for promotions and concerts, as well as other activities with a total value of 427 million euros. In 2010 the project became a possibility when a group of foreign investors from London designed a new master plan for the building of a tourist neighborhood.

‘’We are always talking about this project and those of use who live in Ivanica expect that work will begin soon. Investors are constantly coming and visiting marked sites. This is evidence that there are serious intentions to realize the project. With this, the price of real estate will rise”, said Milićević.

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