Property for sale in Montenegro
Montenegro has definitely taken the road to Europe: this is one, but certainly not the only one, of the reasons why investors should carefully consider the growing business opportunities. Montenegro has the aspiration to enter the European Union in the near future. If the road map outlined by Brussels quotes the 2025 hypothesis for the possible entry of Montenegro and Serbia, it is clear that Podgorica is in the lead.
Montenegro returned to economic growth which rose to + 4.3% -4.4% last year. It is a country that is focusing heavily on modernization and openness to international investment. Prices for the property for sale in Montenegro are ready to increase thanks to the high demand for housing and a booming tourism sector.
Until the second quarter of 2017, the average price of new properties for sale in Montenegro increased by 4.95% to about € 1,000 per square meter, according to the Statistical Office of Montenegro. This is in sharp contrast with a decrease of 10% year on year compared to the same period last year.
However, on a quarterly basis, the average land price in the country fell 6% during the last quarter.
Despite this, the signs are good. Real estate deals have increased by an average of 10% each year in the last 2 years.
The demand for property for sale in Montenegro should continue to rise thanks to tourist arrivals, which increased by 18% compared to the same period last year.
The ownership of Montenegro offers an excellent investment opportunity. The country has a thriving tourist industry that aims at luxury hotels, golf courses and other luxury facilities to attract wealthy tourists.
As there is not much confidence in this country, property prices are still affordable and attractive to investors.
The most interesting cities where to look for properties for sale in Montenegro are certainly the capital Podgorica but not to be underestimated also places like Bar, Sveti Stefan, Budva, Stari Bar, Ulcinj definitely less chaotic, more livable and touristy, but with a great potential for the real estate market.
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