Published on 10 May 2008 at 07:06 pm
Filed in Property News for Montenegro » 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…
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The property sector in Montenegro perfect embodies the true concept of an emerging market – there’s potential, risk and opportunity in equal measures and the investment property buying process in Montenegro is far from being set in stone.
Those who can see the undeniable potential in this stunningly beautiful and diverse country and who are not put off by the risks associated with Montenegro’s unstable past, it’s high current levels of poverty and the fact that it is as yet relatively inaccessible particularly from the UK and Western Europe must ensure that they are well versed in all the potential issues that can arise with the real estate buying process in Montenegro before they commit to the market.
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The popularity of Montenegro from a property investor’s point of view currently stems from the facts that real estate in Montenegro is so undervalued, the country has entered into a period of reform designed to bring economic growth and foreign direct investment, Montenegrins are aligning for EU accession and the country is beginning to attract growing overseas tourism interest.
There is immediate money to be made from buying to let to the tourism market and buying to let domestically in the main towns and cities in Montenegro and there is long term growth potential as the local population grow wealthier, home finance becomes more widely available and growing numbers of international retirees and second home hunters realize the incredible attraction of the country and are drawn to purchase property in Montenegro.
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Montenegro is a country that offers property investors some of the most exciting real estate investment opportunities in Europe at the moment.
It is also a stunningly beautiful country recovering effectively from the ravages of war and positioned for EU accession talks in the near future making the future of Montenegro’s economic development positive and making the country highly interesting from the property investor’s point of view.
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