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Many Montenegrins see their country as the future Switzerland of the Balkans - a small but manageable land, with the strategic location on trade routes, and with a great potential for economic prosperity.
Montenegro's biggest resort is its scenic beauty - stunning inland lakes and mountains which sweep down to an un-spoilt coastline on the Adriatic Sea.
No wonder then that the country's leaders are resting their plans for economic revival on tourism and on maritime industry, which they argue they will not be able to exploit shackled to Serbia and its multi-billion dollar foreign debt.
Is Montenegro Property Set For Take Off?
posted by Sarah Brown on April 10, 2008 | More articles about: Montenegro Property
Confirmation that Montenegro Airlines are to begin direct flights in June to the UK, specifically London Gatwick airport, there is speculation that this could signal a Montenegro property rush and further build the country as a tourist hot spot. As well as improving airline accessibility with more and more countries, there is also news of a major revamp of Montenegro’s infra-structure which will see vast improvements in the years to come.
Interestingly, in a similar fashion to Morocco, Montenegro has pushed for diplomatic links with the hot bed of property investment, the United Arab Emirates where investors are always on the look out for good value long term property markets. So does the Montenegro real estate market measure up?
While property in Montenegro would not normally spring to mind if you were looking for an overseas investment market, it is actually perfectly placed to benefit from the growing interest from tourists, already using the Euro, Montenegro sees its future as European Union member and offers those looking for a home abroad some beautiful properties at prices which are a fraction of those elsewhere in Europe.
The country itself only has a population of some 700,000 but reported a staggering 2.3 million overseas visitors in 2007, showing how Montenegro is slowly but surely beginning to find its feet in the international arena. Many experts are expecting the increase in tourist numbers of late to continue for a number of years, bringing in much need wealth and investment into the area and restore Montenegro to its former tourism glory. The market for property for sale in Montenegro is at a very early stage and while there have been issues with building permits in the past, these have largely being resolved.
Montenegro is a country with a property market that is on the up and looking to entrench itself further and further into the international scene, something which will open up the tourist market to more and more overseas travellers. News that the Four Seasons Hotel chain are planning to create a presence in the area, with a development in Tivat, is another sign of the times. All the ingredients are there for a prosperous property market.
Buying overseas: The full Montenegro
Billionaires arrive by yacht, but direct flights will soon allow the rest of us to pop over too.
Laura Latham sizes up Montenegro
Wednesday, 14 May 2008
Sandwiched between Bosnia, Croatia, Serbia and Albania, the small country of Montenegro is becoming a big-hitter on the European property scene. Its stunning Adriatic coastline, clear waters and dramatic countryside is attracting an increasing number of tourists and overseas investors.
The nation's James Bond moment, when Daniel Craig took glamour to Montenegro in Casino Royale, gave the tourist board bragging rights. The World Travel and Tourism Council recently documented a rise of 39 per cent in the number of overseas visitors in 2007, and predicts that the upward trend will continue as infrastructure and accommodation improves.
Along with better roads, new marinas and spruced-up hotels, one of the main signs that Montenegro is preparing for the big time is the launch of the new direct flights from the UK. Next month, the national carrier, Montenegro Airlines, will start flying twice a week from Stansted to Tivat. Currently, getting to Montenegro entails a flight to Dubrovnik, in neighbouring Croatia. Though it's just over an hour from there to the popular resort area of Kotor, queues of up to two hours can often form at the border in either direction. The journey time between Tivat and Kotor is just 20 minutes.
"It's going to be bliss," says Andrea Marston of property agency Montenegro Prospects. "Buyers have been hoping for this for a long time."
Three years ago property in Montenegro was dirt cheap but the infrastructure was diabolical, however, times have changed. The beauty of the country, plus improved services and interest from several glamorous hotel chains, has created an environment that appeals to sophisticated travellers and investors.
Montenegro eyes high-end tourist market
ULCINJ, Montenegro (AFP) — Looking beyond another summer for its record-breaking tourism industry, Montenegro plans to turn a chain of beaches into upscale resorts to shore up a post-independence economic bonanza.
Singled out for development are around half a dozen locations along the tiny Adriatic state's cove-indented coastline, including several communist-era military facilities.
Central to the plans is Velika Plaza -- a 13 kilometre-long beach of sweeping fine sands for which the government is seeking foreign investors who can transform it into a world-class leisure resort.
"The development of Velika Plaza and other locations on the Montenegrin coast ... can completely change the economic future of our country," the tourism ministry said.
"Investment of that scope and character can be a trigger for the economic boom that we are expecting," it said in a statement to AFP
