Michigan Real Estate

My guide to Property Investment Montenegro

Property Investment Montenegro works in close collaboration with leading developers and real estate agents in Montenegro which enables us to offer you a wide range of apartments and villas in the best of locations.

Through our research and experience in the Property Investment Montenegro property market we are able to bring you well-grounded knowledge and understanding of this dynamic investment market.

We place particular value upon comprehensive, reliable advice and first-class service in all our areas of business.

If you do not find the right offer for you in Property Investment Montenegro the extensive range available on our web site, please do not hesitate to contact us. We are confident that we will be able to find you a suitable property

The Project is a mixed-use development project in the picturesque town of Budva, Montenegro. The project will comprise the construction of a world-class branded hotel, luxury residential apartments and a first class convention centre.

Property Investment Montenegro has a big contract for the provision of the design, construction management and associated build services required to construct the Adriatic Project.

Property Investment Montenegro Project will consist of a 10 acre waterfront property complex affording prime views of the Sea to the south, and mountain landscapes to the north.

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The property will boast many facilities to accompany and complement the hotel, residential apartments and convention centre including a private beach club, a potential casino, restaurants, night clubs and ample retail space.

As the primary contractor,

Property Investment Montenegro has fantastic local knowledge of the economy.

Montenegro is a country located in South-eastern Europe. It has a coast on the Adriatic Sea to the South, and borders Croatia (25 km) on the West, Bosnia and Herzegovina (225 km) on the Northwest, Serbia (203 km) on northeast and Albania (172 km) on the southeast. Property Investment Montenegro is at the centre of growth.

The thousand-year history of the Montenegrin state begins in the 9th century with the emergence of Duklja, a vassal state of Byzantium . In those formative years, Duklja was ruled by the Vojislavljevic dynasty . In 1042, at the end of his 25-year rule, King Vojislav won a decisive battle near Bar against Byzantium, and Duklja became independent. Duklja’s power and prosperity reached their zenith under King Vojislav’s son, King Mihailo (1046-81), and his son King Bodin (1081-1101).[5]. From the 11th century, it started to be referred to as Zeta . It ended with its incorporation into Raska and beginning with the Crnojevic dynasty, Zeta was more often referred to as Crna Gora or by the Venetian term monte negro. A sovereign principality since the Late Middle Ages Montenegro saw its independence from the Ottoman Empire formally recognized in 1878. From 1918, it was a part of various incarnations of Yugoslavia . On the basis of a referendum held on 21 May 2006, Montenegro declared independence on 3 June. On 28 June 2006, it became the 192nd member state of the United Nations and on 11 May 2007 the 47th member state of the Council of Europe. On 15 December 2008, Montenegro presented its official application to the European Union, with the hopes of gaining EU candidate. Property Investment Montenegro is fullly in support of this move.

Property Investment Montenegro, the best guide on the web to

Do you want to find Invest Property Montenegro on the web?

Buying property in Montenegro for investment offers anyone wanting to invest in property a superb opportunity for big capital gains.

The country was recently voted one of the top 5 overseas investment destinations and investors are looking at property investment in Montenegro and its advantages longer term and buying in increasing numbers.

Why Montenegro Property Investment is rising in popularity

Many countries that have recently joined the European Economic have seen strong growth in property prices and Montenegro look set to follow this trend.

Montenegro could could join the EU as early as 2010 and has already adopted the euro as its currency.

Montenegro’s property market offers capital growth potential on property values, but there are also great buy-to-let options in the cities and popular tourist resorts.

Montenegro Facts

Montenegro is a small country of just 14,000 sq km. that sits in the Balkans.

It recently voted to become fully independent of Serbia in 2006 of which it had a loose federal union with after the break up of Yugoslavia in 2003.

Montenegro maybe small but has something for everyone from:

The fascinating capital of Cetinje, to rugged mountains, breathtaking river gorges such as the awesome kotor fjord and finally, the beautiful beaches of its Adriatic coastline.

With approximately 200 kms of coast and some of the most stunning bays in the Mediterranean, like the Bay of Becici – Montenegro has much to offer and is far cheaper than its near neighbor Greece.

So why should you buy be looking buying property in Montenegro?

1. The best value in Europe

Capital appreciation according to the World Travel and Tourism Council should see growth of up to 20% between 2005 and 2014; and the “value of Montenegrin property should triple or quadruple, given the huge surge in demand.

2. Tourism set to boom

In 2005 Montenegro was chosen as the #1 Country for tourism growth over the last ten years, by the World Travel and Tourism Council.

The government is committed to the development of tourism having realized that there is exceptional potential in this area.

The potential can clearly be seen in the recent development of the Tivat marina, costing in excess of $600 million and more such developments look to follow.

Montenegro benefits from close transport links to Dubrovnik’s International Airport, which offers competitive and regular flights in and out of Croatia.

Getting Dubrovnik takes only around 20 minutes.

In the near future, the budget airlines are expected to reduce the cost of flying to Montenegro as its popularity increases as a tourist destination.

3. Rental yields and capital growth potential

Montenegro is short of quality summer rental properties to accommodate an ever-increasing number of tourists visiting Montenegro beautiful Adriatic coast.

This means, rental yields should remain strong for the foreseeable future.

4. Montenegro enjoys a low cost of living.

This includes the cost utilities, making it extremely attractive for renting out investment property to the tourists.

5 Montenegro has a booming economy

The economy is strong and overseas investment is increasing, when Montenegro joins the EU investment will accelerate.

6. The buying process is straightforward

The buying process is relatively straightforward and transaction costs and taxes are cheap.

Montenegro property investment looks a great investment for long term investors all the above will come together to create both capital growth and lucrative income from buy-to-let properties.

With average growth of 30% per annum and far higher in many locations and strong growth likely to continue astute property investors are buying property in Montenegro for high rewards and low risk.

If you are looking for the next property hot spot consider Montenegro Property investment and you may be glad you did.

High mountains, deep inland lakes and a spectacular southern coastline of bays and beaches, plus sunny summers and mild winters, are just some of the reasons why Montenegro has become a holiday hotspot. Combine this with the fact that it occupies a key location for business, is attracting foreign investment, has a rapidly growing infrastructure and has been a sovereign state since 2006 upon its independence from Serbia and you have one of the world’s most intriguing emerging property markets.

Montenegro is aiming for EU membership in 2014, which will add to its attractiveness for buyers looking for investment properties or holiday-home ownership. There are no restrictions for foreigners wishing to buy property in Montenegro, other than land for development, and the buying process is relatively straightforward. Montenegro property prices and lawyers’ fees are low and there is no capital gains tax liability in Montenegro, all of which is helping to fuel the sector.

Montenegro is well served by airlines. Flights arrive at Podgorica and Tivat airports regularly from Europe and further afield, plus into Dubrovnik in Croatia, which is a drive of around 50 minutes across the border to Montenegro’s Bay of Kotor. Kotor, a fabulous old city that has been recognised as a UNESCO heritage site, and is one of the country’s most popular holiday hotspots, lies on the banks of the bay.

Much of the new development is taking place around Kotor and already there are reports of property increasing by as much as 100% over the past year or so, with the potential for further capital growth being maintained, plus excellent rental returns being achieved through holiday home rentals.

“Montenegro property offers an excellent investment opportunity,” says Glenda Lazare, managing director of Key Universal, an overseas investment specialist company. “The country has a burgeoning tourist industry, bolstered by the government’s Tourism Masterplan 2007-2020, which aims to develop high-end hotels, golf courses and other luxury facilities in order to attract affluent tourists.”

Key Universal is currently marketing Kotor Apartments in Dobrota on the fringes of Kotor. A boutique residence of just ten two and three bedroom contemporary apartments offering stunning sea and mountain views, and a specification that includes parquet flooring, granite staircases and fitted kitchens and bathrooms, the development is ideal for investors looking for exclusive holiday-home rental opportunities, says Lazare.

The complex will have landscaped gardens, a pool and parking spaces. Key Universal has negotiated a special deal direct with the developers and prices for the upmarket apartments will start at €154,880 (£124,000), with a 30 per cent deposit and 70 per cent payable on completion. “The rugged beauty of Montenegro continues to attract high-profile visitors, including Michael Douglas, Catherine Zeta Jones, Madonna and The Rolling Stones,” adds Lazare. “It is being tipped as the next Monte Carlo.”

Other companies marketing in the Kotor area include Europe Property Plus, which is offering Dobrota Heights, a brand-new luxury collection of apartments from around €225,000 (£180,000), and Rosco Properties that has off-plan apartments at Herceg Novi-Igalo from €142,00 (£114,000) and homes with sea views at Baosici from €144,000 (£115,500), plus small resale houses in need of modernisation from around €50,000 (£40,000). 

David Stanley Redfern is offering Acacia Hills Apartments, a collection of one-, two- and three- bedroom homes at Herceg Novi, near Djenovici, overlooking the bay. The use of natural materials has been a key feature of the design. Prices are from €103,000 (£82,600). “Acacia Hills offers an excellent investment opportunity in an area that is seeing one of the fastest growing tourism markets in the world,” says David Redfern, managing director of David Stanley Redfern. “Prices for these off-plan apartments are extremely competitive and we expect to see buyers realising capital increases of at least double in the next three or so years, combined with achievable rentals of around eight per cent.”

Other popular holiday hotspots in Montenegro include Sveti Stefan and Bar, which are further south along the coast, plus the historic stronghold town of Budva, where life revolves around its elegant marina and harbour. “Budva real estate and the property market in this area have become very active recently, especially with Russian investors who know the area from holidays and need no visa to visit,” says Alex Mark Moller, who is marketing the Budva Hill Resort in Budva.

“Foreign investors are interested in Budva properties because of the capital growth potential and the return of investment. We have already sold around half off-plan and are confident we will have sold all apartments when the development is complete in 2010.” The Budva Hill Resort, says Moller, will be a landmark development of one- and two-bedroom apartments in the area, offering top notch features and luxurious living. “There is a shortage of luxury resorts in the area,” he adds. “The apartments will lie on a slope offering fantastic views of the Adriatic Sea.”

Buying Montenegro property is straightforward. If buying a resale Montenegro property then a deposit of ten per cent will be required to secure the property, but if buying off-plan Montenegro property then an initial deposit followed by stage payments will be required. Montenegro property buyers are advised to appoint a local solicitor and get all documents officially translated and stamped in court. Also, ensure you check the person you’re buying from has the correct title deed ownership. After that, Montenegro property ownership should be plain sailing and lots of fun.