Published on 10 April 2008 at 09:22 am
Filed in Property News for Montenegro » 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.
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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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