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About Montenegro

About Montenegro

Bay of Kotor – location of most of the sites

  • The climate is Mediterranean and summer temperatures along the coast average 27°C.
  • The Bay has been awarded membership of the association for the “Most Beautiful Bays in the World”
  • Europe’s most Southerly fjord is a place of stunning natural beauty. This is the location of most of the portfolio
  • A vast butterfly expanse of water surrounded by breathtaking mountain scenery. Designated UNESCO world heritage site in 1979, the shore of the bay is dotted with pretty villages and historic towns
  • At the head of the bay lies the Venetian-built old city of Kotor, also a UNESCO heritage site, and one of the most exquisitely preserved medieval centers in the Mediterranean
    One of the finest natural harbors in Europe, Tivat is now the setting for Porto Montenegro – 800 berth luxury marina with super-yacht facilities
  • The Bay of Kotor, with amazing scenery and cultural attractions, attracts an upmarket clientele and prime prices for property. Mountains rising steeply out of the water ensure that the supply of buildable land remains limited
  • Easy access via Tivat or Dubrovnik airports

The World’s Fastest Growing Tourist Destination

  • Montenegro is the world’s fastest growing tourist destination – a position which the WTTC forecasts will continue for the next 10 years
  • It is rapidly recovering its position as one of the most exclusive destinations on the Mediterranean, which it held until the troubles of 1991 onwards
  • According to the World Travel and Tourism Council, Montenegro is expected to be the world’s fastest growing tourist destination to 2015.

Montenegrin Real Estate

  • Coastal property prices have risen recently, but strong further growth is expected:
    • Shortage of quality residential and hotel accommodation (especially western standard new build)
    • High profile developments currently in the pipeline to further boast Montenegro attractiveness including Munk’s Tivat super-marina (800 berth) and the development of the Big Beach in Ulcinj
    • Small coastline (293km) with many areas protected or physically unsuitable for building means supply of finished units will stay low
    • Russians (as well as British and Irish) are main buyers of finished apartments – cultural affiliation with the region; visa free travel to Med and ability to buy without central bank approval; Russians buying primarily for lifestyle rather than investment.
    • Long term growth potential is secured by the local population who are becoming wealthier, wider availability of mortgage finance to foreigners and locals, and growing numbers of international retirees and second home owners.
    • Montenegro still offers a unique and exciting investment potential within Europe whilst remaining relatively under developed.

Portfolio Breakdown

Nine sites are located in Bay of Kotor (largest bay in the Adriatic) , while one site is situated on the Budva Riviera in Reževići village: Djenovići, Baošići, Reževići, Kumbor, Morinj, Muo, Žvinje, Stoliv I, Lučići, Stoliv II.

  • Coastal property prices have risen recently, but strong further growth is expected:
    • Shortage of quality residential and hotel accommodation (especially western standard new build)
    • High profile developments currently in the pipeline to further boast Montenegro attractiveness including Munk’s Tivat super-marina (800 berth) and the development of the Big Beach in Ulcinj
    • Small coastline (293km) with many areas protected or physically unsuitable for building means supply of finished units will stay low
  • Russians (as well as British and Irish) are main buyers of finished apartments – cultural affiliation with the region; visa free travel to Med and ability to buy without central bank approval; Russians buying primarily for lifestyle rather than investment.
  • Long term growth potential is secured by the local population who are becoming wealthier, wider availability of mortgage finance to foreigners and locals, and growing numbers of international retirees and second home owners.
  • Travel & Tourism capital investments are estimated at EUR 210.6 million in 2008
  • Montenegro still offers a unique and exciting investment potential within Europe whilst remaining relatively under developed