montenegro property back in the spotlight
News Posted On: 30 July 2010
Montenegro property is back on the map. There are only a few countries in the world receiving positive coverage in the UK national press, and Montenegro, this month, became one of them. And little wonder.
The coverage was focussed on the array of new resort and marina developments currently springing up in Montenegro, particularly in the area between the stunning Bay of Kotor in the north and the island of Sveti Stefan, which benefits from international airport access at Tivat, plumb in the middle.
Like the new super yacht marina and accompanying development of holiday homes on Kotor Bay near Tivat. The development has attracted increasing attention because construction of the first phase was completed ahead of schedule, which accelerated already rapid sales of the subsequent phases.
Montenegro has had 2 heydays, one in the 80's when its beaches were frequented by the likes of Marilyn Monroe, Sophia Loren, Charles and Di, and Elizabeth Taylor, and once in the noughties, after it split from Serbia and declared independence in 2006. The Balkan War of the 90s was responsible for the huge gap, as it dropped tourism to rock-bottom.
Of course, given that sales of Montenegro property experienced the first signs of recovery in the middle of last year, the current revival is an extension of the boom seen after independence in 2006.
Montenegro prices didn't fall per se, but developers were known to be giving discounts of up to 30% at the lowest point in the crisis. Now, according to agents prices are back to reasonable levels, and buyers are predominantly wealthy Russians.
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