Real Estate & Property Investment News in Montenegro from Propertyshowrooms.com

Montenegro signs economic deal with Italy

Fri, 23 Jan 2009 00:00:00 GMT

Montenegro has moved to strengthen its economy by forming a new association with Italy.

Speaking in Podgorica on Monday (January 20th), Montenegrin prime minister Milo Djukanovic said that the two nations have agreed to increase economic cooperation and encourage trade, the AKI news agency reports.

A ceremony in the capital was attended by politicians from both countries, with Italian economy minister Adolfo Urso describing the agreement as "a historic event, which will open a new phase in the relations of the two countries".

Meanwhile, Mr Djukanovic said that the "quality of relations between states is measured by the volume and structure of economic cooperation".

He claimed that sectors such as tourism, transport, agriculture and utilities could be expected to experience an increase in Italian investment as a result of the association.

In December, Mr Djukanovic said that Montenegro will aim to achieve economic growth of 5% this year.

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Montenegro offers value for money

Wed, 21 Jan 2009 00:00:00 GMT

Many property buyers are choosing to invest in Montenegro over more established destinations because homes in the country represent greater value for money.

This is according to the Times, which states that, in the current economic climate,
"those who are still determined to live in the sun may wish to look beyond the most popular destinations".

According to the newspaper, places like Montenegro can currently offer buyers a more attractive package for investment, with property prices and the cost of living still much lower than other countries in Europe.

Property specialist Charles Weston Baker of Savills International told the Times that a two-bedroom property with a good view would be available for about £80,000 in Montenegro.

"The cost of living has been rising in France and Spain, as it has been in the UK, which is becoming an increasingly important factor for those looking to buy abroad," he added.

Rough Guides recently named the Montenegrin resort of Kotor as one of its top destinations for 2009.

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Montenegro included in top travel experiences for 2009

Wed, 14 Jan 2009 00:00:00 GMT

The coastal resort of Kotor in Montenegro has been chosen as one of this year's top travel destinations by Rough Guides.

Already popular with property investors and holidaymakers from around the world, the town could experience a significant growth in visitor numbers following the recommendation.

Rough Guides describes Kotor as one of the "best travel experiences for 2009", ranking the town alongside exotic destinations in Cuba, Singapore, Colombia and Corsica.

The guidebook company recommends visiting the Adriatic resort for spectacular views of the world's second deepest fjord, a stunning natural feature which already attracts many foreign visitors to Kotor.

For those who prefer more energetic pursuits, Kotor is also home to Maximus, the largest nightclub in the country.

According to figures released by Montenegro's tourist board last year, revenues from tourism increased by 10.7% during the first ten months of 2008.

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Hotel launch to boost profile of Montenegro

Wed, 7 Jan 2009 00:00:00 GMT

The opening of a new hotel by luxury accommodation chain Amanresorts this year offers evidence that Montenegro's tourism market is steadily growing in stature.

Selected by the Guardian as one of the 'hippest new hotels' for 2009, the Aman Sveti Stefan is the first European hotel developed by Aman, which operates luxury resorts in Thailand, India, Indonesia and other Asian locations.

The resort is scheduled to open in August and offers holidaymakers the chance to escape to the island of Sveti Stefan, which is separated from mainland Montenegro by a causeway.

Incorporating former royal residence Villa Milocer, the hotel is expected to attract a number of new high-end visitors to Montenegro for this summer onwards.

The country's property market is also continuing to attract interest from foreign parties, with nubricks.com recently reporting on the large number of Russian investors buying property in Montenegro.

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Montenegro bids to maintain growth in 2009

Thu, 1 Jan 2009 00:00:00 GMT

Montenegrin prime minister Milo Djukanovic has said that investment in major infrastructure projects will help his country's economy to continue its positive development in the new year.

The International Monetary Fund (IMF) recently forecast economic growth of 2% for Montenegro in 2009, but Mr Djukanovic believes the nation can achieve a level closer to 5%.

In comments reported by Reuters, he told a news conference in Podgorica: "If we realise only part of planned investment in tourism, energy and infrastructure, it is realistic to achieve a more dynamic growth than the one forecast by the IMF."

"The imperative is to maintain positive trends from past years."

Infrastructure projects planned by the government in 2009 include the construction of a new highway at an estimated cost of 2 billion euros, as well as the establishment of new power utilities.

Nubricks.com recently reported on the large number of wealthy Russian investors purchasing property in Montenegro.

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Montenegro submits EU application

Sat, 20 Dec 2008 00:00:00 GMT

Montenegro formally submitted its application for membership of the European Union (EU) earlier this week.

The application, which was filed with French president Nicolas Sarkozy in Paris during the final days of France's EU presidency, follows the pre-accession deal signed by Montenegro in October 2007.

EU enlargement commissioner Olli Rehn welcomed the country's bid for membership on Monday (December 15th), telling euobserver.com that Montenegro had "reached a historical milestone marking the country's important engagement to common European values and fundamentals".

Commissioner Rehn also said that Montenegro, which was granted independence from Serbia in June 2006, could set an example for other Balkan countries to follow in terms of European perspective.

Meanwhile, Montenegro prime minister Milo Djukanovic was quoted by AFP as heralding "a great day for Montenegro".

Homes Overseas magazine recently identified the property market in Montenegro as 'one to watch' for 2009.

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Montenegro to continue with EU bid

Wed, 3 Dec 2008 00:00:00 GMT

Montenegro is planning to submit its application for European Union (EU) candidate status before the end of the year, it has emerged.

During a visit to Bosnia this week, Montenegrin prime minister Milo Djukanovic said the country is now in talks over a compromise deal with France, which currently holds the EU presidency.

He told a press conference in Sarajevo that the country will continue with its initial intention to apply for EU candidacy before 2009, Reuters reports.

The prime minister explained: "We are trying to agree on a compromise in talks with France and achieve what Montenegro has planned - to apply for a candidate status by the end of the year.

"We have got full satisfaction after declaring independence: we have strengthened stability and come closer to our European goals."

Mr Djukanovic said that EU status will reflect the increased social, political and economic stability achieved in Montenegro since 2006, when the country won independence.

Publications such as Homes Overseas have recently identified Montenegro as a key investment destination for 2009.

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Poetic beauty of Montenegro explained

Fri, 28 Nov 2008 00:00:00 GMT

A visitor to Montenegro has commented on the powerful, unspoilt beauty of the country's landscape.

Canadian journalist Michael Sean Walters recently travelled to Montenegro to assess its recent emergence as a tourist destination and overseas property investment market.

Writing for the Toronto Star, he was captivated by the nation's dramatic mountains, picturesque villages and tranquil coastal areas.

After travelling around Montenegro, Mr Walters concluded that the country "boasts one of Europe's most beautiful fjords, a coastline to rival any Riviera, and a wild interior for the active adventurer, with world-class skiing and white-water rafting".

It was Montenegro's coastline which most impressed the visiting Canadian, prompting him to quote lines written by Lord Bryon about 200 years earlier: "At the birth of our planet, the most beautiful encounter between land and sea must have been on the Montenegrin coast."

Montenegro was recently identified as a key emerging property destination for 2009 by Homes Overseas magazine.

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Montenegro becoming property hotspot

Tue, 25 Nov 2008 00:00:00 GMT

Montenegro's beautiful landscape, simple buying process and popularity with foreign investors is seeing the country develop into a major overseas property market.

Homes Overseas magazine claims that the nation is "one of the world's most intriguing emerging property markets", with interest in Montenegro growing steadily since it was granted independence from Serbia in 2006.

Described as a country of "high mountains, deep inland lakes and a spectacular southern coastline" by the magazine, Montenegro appeals to both professional property investors and lifestyle buyers keen to discover an unspoilt corner of Europe.

Glenda Lazare, managing director of investment specialist Key Universal, said property in Montenegro represents "an excellent investment opportunity".

She explained: "The country has a burgeoning tourist industry, bolstered by the government's tourism master plan, which aims to develop high-end hotels, golf courses and other luxury facilities."

Homes Overseas describes the property buying process in Montenegro as straightforward, with good flight connections making the country accessible from the UK.

The Montenegrin tourist board is set to launch its first office in London before the end of 2008, it emerged earlier this month.

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Montenegro emerging as tourist destination

Thu, 20 Nov 2008 00:00:00 GMT

A growing number of British people are choosing Montenegro as a holiday destination, according to a travel expert.

Commenting on the upcoming Christmas holiday season, managing director of TravelMole Gordon McKenzie said that "relatively short-haul destinations" are proving popular with holidaymakers this winter.

He explained that Montenegro and neighbouring countries such as Serbia appeal to travellers from the UK because they offer "relatively low-cost flights and good air connections".

Mr McKenzie added: "I think [people are looking for] somewhere different and relatively close to home.

Flights search engine skyscanner.net recently rated Montenegro's Podgorica at number one in its 'top ten undiscovered European capitals', based on searches conducted on the website during summer 2008.

Montenegrin tourism minister Predrag Nenezic has said that income from the country's tourism industry is expected to reach 540 million euros by the end of the year.

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Montenegro 'committed to growth'

Wed, 12 Nov 2008 00:00:00 GMT

The Montenegrin tourist board will launch a new office in London this year as the country continues to welcome more international visitors.

Sasa Radovic, director of tourism at the National Tourism Organisation of Montenegro, said the board will have a presence in the English capital "by the end of 2008".

He said the new office is intended to form part of Montenegro's "commitment to develop inbound tourism" – something it has already demonstrated through a 20 per cent annual growth in visitor levels for the past three years.

According to figures from the World Travel and Tourism Council, the country now possesses the second fastest-growing tourism sector in the world.

"Montenegro is committed to growth and to maximise high quality investment in ways which are socially, environmentally and economically sustainable," Mr Radovic said.

Last week, government officials in Montenegro announced plans to increase spending by 15 per cent to 1.6 billion euros next year in support of major infrastructure projects.

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Montenegrin economy benefits from tourism

Fri, 17 Oct 2008 00:00:00 GMT

The tourism industry in Montenegro is proving to be highly lucrative for the country's economy, new figures have revealed.

According to official data cited by Balkan Travellers, the eastern European nation's holiday sector generated €471 million between January and September 2008.

This is 8.8% higher than the amount recorded during the first nine months of the previous year.

Government statistics also showed that the overall number of incoming leisure travellers also increased during this period.

A 5.4% surge in visitor numbers was recorded, prompting government officials to predict that overall tourism receipts for the year will reach €540.

Earlier this year, the tourism sector was boosted when Montenegro Airlines began operating a twice-weekly service between Tivat and London's Gatwick Airport.

This has helped make the country more accessible to both business and leisure travellers, as well as overseas property investors.

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House prices still going up in eastern Europe

Sat, 27 Sep 2008 00:00:00 GMT

Overseas property investors have been informed that the housing boom in eastern Europe is still ongoing.

According to the Global Property Guide, house prices in some countries in the region are continuing to increase at a fast rate.

This is the despite the deepening economic crisis across the world, which has been cited as the cause of the slowdown in many other housing markets.

The Global Property Guide said Montenegro for example is still seeing "strong increases" in property values.

As a result, it could offer considerable capital growth potential to property investors who are looking to buy abroad.

Commenting on this development, the Global Property Guide said: "Clearly, the boom in Eastern Europe is not entirely finished."

This comes after NuBricks.com described Montenegro as a country which is "on the up".

According to the website, the nation has the necessary ingredients to be a highly prosperous property market.

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Montenegro attracts foreign investors

Fri, 22 Aug 2008 00:00:00 GMT

Foreign property buyers are increasingly considering investment opportunities in Montenegro, analysts have stated.

According to the BuyAssociation website, the eastern European country is attracting attention because investors are predicting strong growth in the market.

The optimism is based on the fact that a number of neighbouring nations have experienced housing booms in recent years, such as Bulgaria, Slovakia and the Czech Republic.

As a result, they have proved to be highly lucrative locations for many overseas property investors.

Paul Collins, property editor at BuyAssociation, commented: "Countries that are nearby another country that's become a huge emerging market take on more importance."

He added that authorities in Montenegro are reforming the property-buying system in order to make it easy for foreign nationals to enter the market.

This comes after NuBricks.com described Montenegro as a country which is "on the up".

According to the website, the nation has the necessary ingredients to be a highly prosperous property market.

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Leisure travellers head to Montenegro

Fri, 22 Aug 2008 00:00:00 GMT

A growing number of foreign leisure travellers are taking holidays in Montenegro, new figures have revealed.

According to government statistics, more than 610,000 tourists visited the eastern European country between January and July, reports Focus on Travel News.

This is 5% higher than the amount recorded over the same period of the previous year.

Figures from the tourism ministry also showed that there was a 7.9% increase in the number of overnight stays in Montenegro during this time.

This suggests that the country's rental market is benefiting from higher visitor numbers, as it is creating extra demand for temporary lodgings in many areas.

Ivana Bulatovic, a PR adviser at the tourism ministry, commented: "Tourist product has diversified and there is an increasing interest for mountain, nautical, health, religious, congress, as well as other types of tourism."

Earlier this year, the tourism sector was boosted when Montenegro Airlines began operating a twice-weekly service between Tivat and London's Gatwick Airport.

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Montenegro aims to expand tourism sector-180708

Fri, 18 Jul 2008 00:00:00 GMT

Montenegro's prime minister has spoken of the government's recent efforts to fuel growth in the country's tourism sector.

Milo Djukanovic stated that the eastern European nation is achieving a greater international profile on the strength of its diverse attractions.

Speaking to Explorer magazine, he said this has helped to generate money which has gone towards improving the infrastructure in major hotspots, as well as the creation of new facilities and accommodation.

Mr Djukanovic commented: "The aim [is] to keep Montenegro in the company of the most attractive tourist destination in the globe permanently."

He added that money is also be poured into upgrading the country's transport infrastructure, in particular its road network.

Montenegro's holiday sector was recently boosted by the launch of direct flights to the UK.

Last month, Montenegro Airlines began operating a twice-weekly service between Tivat and London's Gatwick Airport.

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UN starts to 'walk the walk' on eco buildings

Thu, 3 Jul 2008 00:00:00 GMT

The UN's new building in the capital of Montenegro - to be built to zero-energy standards - could mark a radical departure for the agency, writes Frank McDonaldEnvironment Editor...

Montenegro Property Market Flying High

Tue, 1 Jul 2008 00:00:00 GMT

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.

Montenegro Property Potential Being Ripped Apart

Tue, 1 Jul 2008 00:00:00 GMT

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…