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Whether for holidays, retirement or investment, Montenegro is the place to buy an apartment in 2006:
In the 1980s, Montenegro used to be one of Europe’s most popular tourist destinations. It is now rapidly re-gaining that position, and the World Tourist and Travel Council reported that it was the world’s fastest growing tourist destinations in 2005. It has a stunning coast and beautiful mountains in the interior. It is also still unspoilt, and has been described by Britain’s Daily Telegraph as the “undiscovered gem of the Mediterranean”. The climate is Mediterranean with warm, balmy summers and short, mild winters.
Montenegro is a 2½ hour flight from London and other major European cities. The arrival of low-cost carriers will provide cheaper, more flexible access.
But despite being as beautiful, if not more so, than next door Croatia, property is currently less than half the price. This price gap is rapidly closing, and there is a unique opportunity in the next 12 months to buy in Montenegro before the prices rapidly rise, as they did in Croatia a few years ago. Prices have already gone up by 20% in the last 9 months, and are likely to more than double in the next 2-4 years. We believe that buying in Montenegro today would be a bit like buying in Spain or Tuscany 20 years ago. As in Croatia to the North, the Montenegro government recognises that the coastal region is the country’s greatest asset and is taking firm steps to protect it from Spanish-costa style over development. This will limit the supply of coastal property and should lead to continuing price appreciation for apartments and houses on the sea.
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