Vodno apartments seized from Gruevski and Mijalkov relaunched at reduced starting price

Three luxury apartments in Panorama Residence on Vodno that were confiscated from former prime minister Nikola Gruevski and ex-UBK chief Sasho Mijalkov have been put up for sale again — this is the fourth attempt since their seizure.

Prices cut by one quarter; electronic auction set for October

The Agency for Management of Seized Property (the Agency) announced a renewed sale after two earlier public notices failed to attract bidders: one last year and a second earlier this year. Irena Ilievska, the Agency director, said the properties will be offered a second time with a starting price reduced by one quarter from the valuation.

Two of the apartments measure 200 m2 with terraces of just under 50 m2. Each was originally valued at around €850,000 and are now listed with a starting amount of €635,000 — roughly €2,500 per square metre.

The third unit, an apartment of 155 m2 with a 95 m2 terrace, fell from an estimated price near €760,000 to a starting sale price of €570,000 (about €2,270 per square metre).

According to the Agency, the public notice was published on 5.10 and will run until 19.10 (15 days). The electronic bidding is scheduled for 21.10.2026, and viewings of the apartments are set for 13.10.2026. Ilievska said she believes the attractive location is not enough to overcome the high total sums implied by the large floor areas and the starting prices, and that is why there have been no interested buyers so far.

There have been two property appraisals over the last two years, and this marks the fourth sale attempt. In the meantime the units remain an extra expense for the Agency.

The Appellate Court in Skopje, in the “Plots on Vodno” case, increased Gruevski’s prison term from 7 to 9 years and also affected the former UBK director.

Photo: press material from the event