With the Montenegro Citizenship by Investment Program set to be one of the leading programmes in Europe in 2019, we take a closer look at the real estate market there.
Real Estate Market in Montenegro
As with most economies, the health of the real estate market is closely tied to the financial stability of Montenegro. Over the past decade there has been an upward trend in the real estate market prices, even more so than in other Adriatic jurisdictions.
Montenegro has traditionally been very popular with the Russian elite who make up one of the major foreign real estate investors, second only to the Serbians.
They have invested in a wide range of luxury hotel complexes, coastal resorts and to a lesser degree in industrial real estate (e.g. factories and mines). Yet in recent years, the demand for real estate by Russian investors has been dwindling further so it is anticipated that with the Montenegro Citizenship programme the demand for real estate by Russian investors will recover.
Read more: Montenegro Citizenship by Investment – Due Diligence Firms Deadline
Demand for Real-Estate linked Montenegrin Citizenship by Investment
In addition to the Russians and Serbians the MENA region and Turkey have demonstrated a strong interest in the Montenegrin real estate market, predominantly in Budva Riviera. Herceg Novi is also a key region of interest as Porto Novi, a new Marina has drawn the attention of the wealthy seeking luxury accommodation and luxury tourism. Boka Kotorska has also been generating a substantial interest from both EU and non-EU investors due to its natural beauty and tourism potential.
Montenegro is currently a real estate market that offers excellent value for money, a real estate investor’s ideal situation, with incredible potential to appreciate over the coming years especially as the country comes closer to joining the European Union.
