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For further reading on "property market in Montenegro" visit EMP Advisers website.
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Montenegro is rapidly growing in popularity among both tourists and investors. The country is becoming a regular fixture on holiday programmes and in travel supplements, and the World Travel and Tourism Council has in fact tipped Montenegro as the number one country for tourism growth over the past ten years, with visitor numbers expected to continue rising by an average of 9.9% every year until 2015.
The amount of construction under way is dramatic, although careful planning has, so far, helped Montenegro to avoid building the type of concrete jungle risked by the Black Sea states. Building projects include significant infrastructure improvements and the reconstruction of Montenegro’s tired Soviet-era hotels, and the island resort of Sveti Stefan will be restored by 2008.
Montenegro has other advantages: the overspill of buyers from Croatia means that the property market is rising steadily. The balance of supply and demand should favour early buyers and keep prices high once they reach their peak. The current progress towards EU membership should attract increasing investment and further benefit the property market.
Kotor Bay
Situated on the Adriatic Coast in the west of Montenegro, Kotor Bay is one of the most stunning natural bays in Europe and was designated a world heritage site in 1979. The region has long been a favourite with the rich and famous, and its popularity has been growing steadily since the resolution of the Yugoslav conflict in the 1990s.
The area has recorded rental growth of over 100% in the last two years, with 100% occupancy during high season in good quality developments. Infrastructure improvements in the region include a highway and a number of marinas and should cause demand for well-serviced properties to shoot upwards, with corresponding rises in prices.
The Peninsula
The Peninsula is strategically situated on the route connecting the secluded luxury and perfect beaches of Kotor Bay with the urban areas and facilities of Kotor, Budva and the Tivat International Airport.
The Peninsula is an exclusive development of low-rise modern buildings with fully fitted luxury apartments, each with a sea view. Apartments come with fitted bathrooms and are finished to the highest standards.
A fully staffed reception, on-site café and a large terrace garden with swimming pool – all with the same stunning views – complete the development and make it an ideal holiday residence for investors or for their rental clients.
