INVESTMENT STUDY – RESIDENTIAL CONSTRUCTION
Rožna dolina, Ljubljana
PROJECT SUMMARY prepared for the client
Location: Rožna dolina cesta XVII, Ljubljana – Vič
Land area: 16,669 m²
Total gross floor area (GFA): 26,670 m² (apartments: 20,170 m², garage: 6,500 m²)
Number of apartments: 173
Number of garage spaces: 260
Planned apartment sales price (for analysis): 4,100 €/m² (market), 5,500 €/m² (premium)
Price per garage space: 15,000 €
Total investment (all included): 83,799,340 €

• Official advertised price of the land: €12,000,000 for 16,669 m².
  Land composition: A series of parcels form a unique land plot for residential construction (over 30 parcels).
  Urban planning parameters: Use SS (residential multi-storey), floor area ratio (FAR) = 1.6, height up to P+2+T.
  Market framework and detailed subdivision:
  Zones with this value in Ljubljana (Rožna dolina, Vič, Bežigrad, center) in 2024–25 typically achieve €600–700/m² for larger areas, or €350–450/m² of maximum allowed GFA.
  Calculation based on presented data:
  Per m² of land:
  16,669 m² × €700/m² = €11,668,300
  Per m² of maximum GFA:
  26,670 m² × €400/m² = €10,668,000
  Real range of fair market price (based on typical transactions):
  Lower range: €8.3–9.3 million
  Mid value: €10.0–10.8 million
  Upper limit: €11.7–12.0 million
  The asked price (€12,000,000) reflects the upper market limit for the most attractive microlocations and is justified only with high apartment sales prices and premium development. Under normal or mid-to-high sales conditions, the realistic price is €10,000,000–10,800,000.
  Structural and urban planning positives:
  Location: Prestigious, highly sought after in Ljubljana, complete municipal infrastructure and traffic accessibility. All parcels are municipally equipped and prepared for development.
  Building factor: FAR 1.6 allows for high construction intensity, which increases value.
  Parcel package: Parcels form a connected urban block which has an additional premium for a larger developer; they are sold only together (increases investment logic).
  Summary – land value assessment:

  Approach	Calculation (EUR)	Description
  Per m² of land (upper range)	11,668,300	16,669 × €700/m²
  Per m² of land (middle)	10,001,400	16,669 × €600/m²
  Per m² of GFA (middle)	10,668,000	26,670 × €400/m²
  Per m² of GFA (upper range)	12,001,500	26,670 × €450/m²

  Fair market value for the entire package: €9.8 – 10.8 million
  Premium justification (luxury development only): up to €12.0 million

  The fair market value of this parcel, based on local and regional parameters, is €10–10.8 million.
  The asking price is at the high end of the market and economically viable only with planned luxury apartments and maximum premium development.
  In a standard purchase scenario for multi-dwelling construction, the optimal investment price range is €10–11 million.