Olive Cove Villas, Bar

Areas of individual villas: 360 m2

The land area of individual villas: 800 m2 land + 400 m2 of the beach area

Bedrooms: 3

Bathrooms: 3

The closed-gate resort of contemporary villas directly on the waterfront, each with a boat mooring, private beach area, and an infinity swimming pool 11×4.5m with seawater.

Each villa features 3 en-suite bedrooms, each measuring approximately 360 m2, with 800 m2 of the garden and an additional area adjacent to the sea, of about 400 m2.

Floor heating, central climatization, garage for 1 car in each villa, and two more outdoor parking places in front of each garage.

One of the villas is furnished with high-end branded furniture. The second villa is for sale unfurnished; the price is 1.600.000 eur.

The complex is set in a beautiful quiet village, surrounded by lush Mediterranean vegetation and virgin beauty of the open sea and olive groves. 14 km from city of Bar and 32 km from Podgorica airport

At 6,111 € per m² this listing sits about 99% above the median for Utjeha, which stands at 3,069 € per m² across the 5 properties we hold there. A premium usually buys position: the first line, a higher floor, or a completed build rather than one still under way.

We currently hold 5 properties in Utjeha, running from €225,000 to €2,200,000, and this is the most expensive of them. At the top of a neighbourhood the price is set by what is rare there rather than by the square metres.

On this asking price of €2,200,000 for 360 m², transfer tax comes to €124,000 — an effective 5.6%. Since 2024 the rate is progressive rather than a flat 3%, so it is worth calculating on the actual figure rather than assuming.

Within 5 km of this address we hold 4 other for sale listings, asking between €225,000 and €1,300,000, with a median of €722,500. At €2,200,000 for 360 m² this one ranks 1 of 5 inside that radius. Comparing against immediate neighbours is a shorter route to a fair price than comparing against a whole town.