montenegro property market continues to grow
News Posted On: 17 February 2009
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The property market in Montenegro is continuing to expand despite the global economic downturn, it has been suggested.
According to Liam Bailey, director of Write About Property, prices have continued to rise steadily in the Baltic nation despite the credit crunch.
Prices in the country rose during the early years of the financial crisis and when the situation became worse, property values did not decline as they did in other countries.
He commented: "Montenegro prices have continued to grow because prices rose in line with the rising cost of building materials, labour and the rising income of Montenegrin citizens."
Mr Bailey added that prices have risen to this level before the country has gained full accession to the European Union.
The expert said this is likely to be sooner than was previously expected, which should support growth and accelerate future expansion of the real estate market.
Property in the country could provide a steady income if rented out to holidaymakers, particularly in light of the fact that the nation is the fastest growing tourism destination, according to the World Travel and Tourism Council.
Written by Matthew Bonner
Renting Property Abroad - thousands of properties for rent from around the world
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