Bašanija Residences Bašanija Residences (Location)

Bašanija Residences, Croatian Coast

Nature of the development: Residential
Land area: 11,000 m²
Size of the development:5,000 m²
Year of Exit:2007

In 2003, a land of 11,000 square metres located in the northern part of the Croatian peninsula Istria was acquired by CEEREF. By 2004 our fund had obtained the required permission for building and by the year of 2006, the construction works were fully completed.

A complex of 17 villas with apartments and rooms was constructed on the land near Savudrija. There were overall 43 residential units. The villas are located 300 metres from the Adriatic Sea. Bašanija residences have excellent access via road, 30 kilometres from the Slovenian town of Koper (population 50,000) and 50 kilometres from the Italian town of Trieste (population 250,000).

Twelve units of the Bašanija project were already sold by the end of 2005; thirteen units - in 2006 and the remaining eighteen units were sold in 2007. The total sales value of the project was in the range of EUR 7 million. Some of the units were purchased by local tourist agencies. Nevertheless, the largest portion of international buyers is evidently comprised of private persons from Slovenia, Italy, Russia and the USA.