The Real Estate market in Montenegro is right now probably the fastest growing property market in the world. In only three years, the prices are almost tripled and thousand of Montenegro real estate buyers had bought their holiday villa, stone house, flat, land with plot to build their own house or commercial property. Montenegro Real Estate market exploded in 2006 - huge interest of foreign buyers produced a bit of a chaotic situation: Huge discrepancies in property prices, a whole slew of new and very often unprofessional real estate agencies, even more agents without any experience or formal knowledge. The foreign companies, mainly from UK and Russia also started their real estate business in Montenegro. The property prices for investitors are still attractive, so it is expected that the rising interest curve in Montenegrin properties won't lessen anytime soon.
The main property byers in Montenegro come from Russia, UK and Ireland. There is a rising trend of interest in Germany and France as well. UK buyers are either investirors looking for profit or people that fell in love with this beautiful country and decided to buy their own holiday villa along the coast. Russian property buyers are increasingly interested in properties around Sveti Stefan and Budva.
Why Such interest in Montenegro Properties?
- From a tourist point of view Montenegro have a great location. European countries are close - not too close to diminish the enjoyment of traveling far away but not too far to make that enjoyment an troubling and exhausting experience.
- The past has gone and future seems bright. Montenegro looks upon European Union, the official currency is Euro, many laws are already adjusted to fit the EU legislations. The result are obvious: Tourism economy is growing at incredible rates, foreign investments are doubling each year and Montenegro real estate market is as lively as it could be. Montenegro got it independance in May 2006 so the potential investors relieved from a doubts that neighbouring Serbian unresolved Kosovo problem might have an impact to their investment.
- Montenegro has a great yet not utilized opportunities to profit upon its fantastic nature, national parks, very pure and unspoiled water with sandy beaches, great mountains with ski resorts and mild climate. Montenegro is self proclaimed as an Ecological State. What is more important though is that Montenegrin goverment does work on it and shows ability to keep up to promises about keeping Montenegro ecological and unspoiled place.
- For foreigners it is easy to enter Montenegro, buy property, invest in business.. You will be welcomed in Montenegro. There are few things to be aware - please other sections for more information.
- There are other reasons that make investing in Montenegro Real Estates clever move. It does not take a genious to predict that property prices will go up for quite some time. The general investment climate in Montenegro is very positive. The crime rate is very low and Montenegro is not densely populated. Infact, Montenegro has only about 650.000 population. While this may not be good for some businisses types it is only and all good when it comes to tourism and property market.
Where to invest in Montenegro real estate?
- Bay of Kotor is quiet, calm and relaxing. It is filled with old fisherman settlements where local way of life has not been changed for hundreds of years. A lot of old stone houses, even many ruins can be found in bay of Kotor. Some settlements are built almost exclusively on mediteranean style, with houses along the water line. There is no open view at the endless sea but the sight is often stunning, from both sides of bay. The bay starts with Tivat and ends with Herceg Novi, near the border with Croatia. The heart of Kotor Bay is accordingly to its name the town of Kotor, which is one unvoidable to give visit to when you visit Montenegro. But, the interest for properties are equally strong and sometimes stronger for other, smaller settlements along the bay: Prcanj, Perast, Morinj and many others (check other pages for more info on them). The bay of Kotor is not an distinctly touristic region, it does not have sandy beaches, many hotels and speciffic "summer rush" that can be seen in Budva for instance. Although the touristic component of Kotor Bay is growing the beauty of it lies in its peaceful nature with great scenery and relaxing way of life.
Budva, along with its neighburing Sveti Stefan and Petrovac is another main point when talking about Montenegro real estate. It greatly represents what growing tourism in Montenegro is all about, sandy beaches and beautiful scenery with sight at Adriatic sea. Budva and especially Sveti Stefan were well known touristic plaaces even before an interest had grown for Montenegro in western world. However, it doesen't take anything off Budva, it quicky adapted to accomodate the needs for modern tourists which now took off the lead from domestic tourists (in Montenegro they call tourists from Serbia domestic even though they are separated countries now). The property market is extremly vibrant, houses, holiday villas and land is being bought. There is huge interest of foreign investitors for buying a land in Budva area with a motive to build a house or villa and sell out latter or use it as a rental property. However, Montenegrin laws still do not allow non-montenegrin citizens to buy a land so a firm has to be opened first (likewise in Croatia). The new laws soon to be released are allowing foreign citizens to buy land without any restrictions and when it happent it is expected that even more interest will be generated.
As much as we talk about Montenegro Coast and its properties we must not forget the fantastic opportunities that continental and rural parts of Montenegro has to offer. First off, Skadar Lake (Skadarsko Lake or in domestic language Skadarsko Jezero), one of the most beautiful natural and preserved lakes one can find. Skadar Lake is split with border between Montenegro and Albania. It is still uncertain will and how a permissions will be given for building up a property in this areas. Maybe not. But some old stone houses can be found and we have no doubts that anything that is for sale will be sold in a short time to come. Then, there is Zabljak , a mountain touristic place with which already becomes an interesting point for property buyers. The mountain Durmitor as whole is beautifull in its wildness. Piva lake (Pivsko Jezero), Kolasin, Lovcen.. just some of names that might be worth to check out. For most part, those are undeveloped areas (maybe exept Zabljak and few others) but with great potential for investment.