Property News for Montenegro
Latest News
Montenegro Property Potential Being Ripped Apart
Oh magical, marvellous and majestically magnificent Montenegro (sorry!), what are you doing? On the one hand you have everything and then some going for you – a flourishing tourism industry that is going the right direction to become a booming and thriving tourism industry for example, as well as significantly strong levels of foreign direct investment. And then on the other hand you risk tearing your fledgling real estate industry apart with inter political party quarrelling about who has the right to buy what.
In recent weeks there has been a heated debate raging in Montenegro about whether foreigners should have such liberal rights to purchase what they like in Montenegro in terms of real estate, and all of this fighting means that Montenegro’s property market could potentially be ripped apart. But – that might not be such a bad thing! We actually think that some of the politicians in Montenegro have got a very good point…
Montenegro Property Market Flying High
Well, with the news that Montenegro is to get direct scheduled flights from the UK finally, we couldn’t resist the corny title for this article! Yes folks, it’s the news that we’ve all been waiting for, Montenegro Airlines are starting a scheduled service from Gatwick from June – not Stansted or City airport as had been previously suggested, but good old Gatwick. This bodes positively for the country’s booming tourism industry and is of course fabulous news for property investors.
But the good news for Montenegro doesn’t stop there – this really is a nation with a healthy property market that is bucking the global downturn! There has been a massive upward pricing trend of 26% for prime property in Montenegro, and now the government says it is well on track with its ‘homework assignments’ for EU entry.
Save Property in Montenegro from the Russians
Montenegro now officially receives more foreign direct investment per capita than any other European nation - and nowhere is the money being more obviously spent than in the property market. And if you want to save property in Montenegro from the Russians it looks like you’re going to have to move very quickly indeed!
Russian investment in this stunning nation is the most intense and it is also incredibly focused...and it is transforming the nation. At Amberlamb we are divided as to whether this is damaging or positive really – because on the one hand the investment is certainly transforming the commercial real estate landscape and improving infrastructure and even the economic prospects of local citizens as it is resulting in greater employment prospects. But then on the other hand, some of the construction that is under way is decidedly...well...Russian in taste...!
Make Money from Property in Montenegro
It was back in 2006 when we first told you all about billionaire Peter Monk’s plans for Montenegro – did you believe us? I don’t think many of you did actually, no, because it’s all Russian money that’s moving in on this stunning little Adriatic facing nation – so we’re here to tell you again...you can make money from property in Montenegro, but only if you move fast!
Peter Monk is a Canadian businessman, philanthropist, risk taker and visionary who is buying up swathes of tiny Montenegro because he can see big business in creating a mega yacht marina in Tivat and now he can see big business in creating a mountain resort near Kolasin – and where Peter Monk can see big business, trust us, there is money to be made from Montenegrin real estate!
New Property Laws in Montenegro But Falling Prices
The news from the Montenegrin property market is mixed today. On the one hand you have the central bank pretty convinced that their country’s real estate market is over priced and heading for a negative correction, and on the other hand you have the government striding ahead with significant property and mortgage law reforms and another firm offering mortgages for foreign buyers in Montenegro.
Seemingly there is room for improvement in the property market at least in terms of the legalities supporting an owner’s rights – but is there room for improvement in terms of property prices? What do new property laws in Montenegro but falling prices mean for the investor?
Where to Invest in Property in Montenegro?
In our collective opinion, Montenegro is a land of property based opportunity as you will well know if you’re a regular reader of Amberlamb. We’re regularly to be found extolling the virtues of this stunningly beautiful nation with its fabulous tourism potential and its long term positive price growth and rental yield prospects – but time and again we’re asked directly where to invest in property in Montenegro?
While we’d never attempt to lead, push, cajole or corral a potential buyer into examining one location or even one nation for that matter – we can tell you that there are five areas of Montenegro that are well worth considering whether you’re seeking a profitable property investment, a second home purchase or even somewhere to relocate to and they are: -
Property in Montenegro Pros and Cons
Well, it’s true – we are hot on property in Montenegro at Amberlamb but don’t go believing that our property passions ever cloud our collective judgment! Yes, this report is about property in Montenegro but it’s not just about the pros - for we would be remiss if we failed to highlight the cons for you as well…
If you take a trip to this stunning, small but perfectly formed nation without looking at real estate for sale we defy you not to fall in love with the beauty and charms of Montenegro. But if you’re going on a real estate fact finding mission you will indeed find a few problems along the way that the developers and real estate agents are ensuring stay out of the main stream media promotion of the emerging property market in Montenegro.
400% Rise in Montenegro Property Investment Transactions
According to a recent report compiled by global real estate experts Colliers International, there has been a 400% rise in Montenegro property investment transactions over the past two years driven largely by British, Irish and Russian demand and commitment.
This consistently increasing property investment commitment from foreign buyers is running hot on the heels of a report by the World Travel and Tourism Council which last year tipped Montenegro to become the fastest growing travel and tourism economy in the world.
Property in Montenegro of Significant Interest to Gulf Investors
Don’t you just hate it when people say ‘I told you so’ – yes, we do too - but in this instance we can’t help ourselves…we told you so, we told you that property in Montenegro was heating up in terms of its attraction, appeal, potential and profitability and now we’ve been proven even more right! So if you haven’t been out there to check out what’s going on yet, you’d better get your skates on.
What are we going on about? Well, as a nation, when do you know your local property market has significant potential? When Gulf investors take a shine to it and commit to significant real estate related projects probably - and the good news for Montenegro is that property in Montenegro is of significant interest to Gulf investors if the last couple of weeks’ activity in the nation is anything to go by.
Investors Buy Property in Velika Plaza Montenegro Now!
At Amberlamb we’ve always tried to keep our opinions balanced when it comes to the potential for property investors to make money out of property in Montenegro. This is because while it is a nation with incontestable potential in terms of having room for significant price appreciation and tourism based growth, it is also a country that truly epitomizes an ‘emerging market’ in terms of its economic and political volatility and the immaturity of certain aspects of legislation and government decision making.
However, slowly but surely we’re having our heads turned away from the negative and Montenegro is growing on us! And we’re not the only ones who can see more potential than problems which is why we’re saying – investors buy property in Velika Plaza in Montenegro now because this part of the country is about to boom thanks to Roman Abramovich’s plans for it!
Property Reports
Listed By Country
Europe
Bulgaria
Croatia
Cyprus (South)
Cyprus (North)
Czech Republic
Estonia
France
Greece
Hungary
Italy
Latvia
Malta
Montenegro
Poland
Portugal
Romania
Russia
Serbia
Spain
Turkey
Ukraine
North America
Australasia
Asia
China
Hong Kong
India
Malaysia
Singapore
Sri Lanka
Thailand
Vietnam
Middle East
Bahrain
Dubai
Egypt
Lebanon
Qatar
Africa
Ghana
Kenya
Morocco
South Africa
