According to the World Travel & Tourism Council, Montenegro is currently the fastest growing tourism sector in the world, and it predicts it will continue to grow in the next 10 years.
Montenegro has a rich history, a beautiful coastline, picturesque bays and soaring mountains which have attracted the rich and famous for many years, and now it seems others are beginning to catch on with tourist numbers predicted to be the fastest growing in the world according to the World Travel & Tourism Council (WTTC).
This is particularly good news for the local property market which, compared to other European countries, is still in tis infancy and therefore represents good value for money when compared to Croatia and Italy. According to property experts, prices in Montenegro are approximately 40% lower than its neighbour Croatia.
The government is focussing on elite tourism, and is keen to avoid the over development that has blighted other European country coastlines, so is granting planning permission mainly to high end hotels and developments. It’s all about quality not quantity.
With supply of new property still at a low level and demand high, especially from the Russian market, the value of property is preserved, with long term growth predicted.
In 2012 Prices gained 5% in places with super prime properties and low cost properties being the most resilient. On the whole top end luxury villas with wonderful sea views or front line apartments are selling best.
Montenegro is very keen to attract investment. The country benefits from a sophisticated land registry system dating back to the time of the Austro Hungarian Empire and therefore a number of the issues found in other Eastern European countries surrounding title to property are eliminated.
This article was sourced in part from TheMoveChannel.com