Petrovac urbanized plot

Land area: 432m2

Urban plot area: 425m2

Land occupancy index: 0.35

Building index: 1.0

Maximum allowed construction area (GBA): 425m2

Allowed number of floors: Ground Floor + 3

Construction purpose: residential, housing

Distance from the sea: 250m

Development land of 432m2, in the central part of Petrovac, with planning for the construction of a residential building measuring a maximum area of 425m2.

The land is accessed from two sides by local asphalt roads, with complete city infrastructure provided. The plot is located approximately 250m away from the sea.

At 400 € per m² this listing sits about 91% below the median for Budva, which stands at 4,420 € per m² across the 56 properties we hold there. Below-median usually means one of three things: set back from the water, an older build, or a floor plan that needs work.

We currently hold 56 properties in Budva, running from €124,200 to €3,500,000; by price this one ranks 55 of 56. Where a property falls in that order tells you more than the asking price on its own.

On this asking price of €172,800 for 432 m², transfer tax comes to €5,640 — an effective 3.3%. 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 42 other for sale listings, asking between €124,200 and €2,100,000, with a median of €547,500. At €172,800 for 432 m² this one ranks 42 of 43 inside that radius. Comparing against immediate neighbours is a shorter route to a fair price than comparing against a whole town.