Luxury real estate in Montenegro

Regions with luxury housing in Montenegro

Despite the fact that Montenegro is the only one of the former Balkan republics that are members of the former Yugoslavia, it does not have its own currency (they use euros printed and minted abroad), is not, along with the rest, a member of either the European Union or the Schengen area and is practically not produces any socially significant goods (including a significant share of food), there are enough luxury real estate properties.

Typically, luxury real estate in Montenegro was built after its separation from Serbia in 2006, when it became clear that the new state’s main sources of income would be construction and tourism. This was facilitated by the favorable geographical position of the country – in the south and west (Herceg Novi, Tivat, Budva, Bar and Ulcinj) it was washed by the clear Adriatic Sea, where the beach season lasted until the end of October, and in the north tourists could be attracted by the ski resorts of Zabljak and Kolasin. In this regard, exclusive housing in Montenegro was built in these regions, which was not least facilitated by the presence of two international airports in the country – in Tivat and its capital Podgorica, as well as the Croatian Dubrovnik located not far from the border.

Exclusive property in Montenegro by the sea

As a rule, almost all luxury real estate in Montenegro is located on the Adriatic Sea coast, although some properties are located in separate areas – for example, on the shores of Lake Skadar, or on the Zavala Peninsula, which formally separates Budva from Becici.

The presence of palm trees, grapes, completely edible pomegranates and kiwis growing quietly at the Budva bus station are an integral part of the local landscape, and the richness of the flora in the country does not end there.

However, it should be borne in mind that the coasts of Montenegro are completely heterogeneous in terms of a number of indicators and population composition. For example, Russians and Ukrainians have long chosen Budva, where the cost of the vast majority of housing with 1-2 bedrooms does not exceed 70 thousand euros.

There is exclusive real estate in Montenegro by the sea in Budva itself, and the cost of luxury villas here ranges from 2.4 to 4 million euros, depending on the infrastructure and location. However, Budva is so small that you can get around it in a maximum of an hour on foot, and the locals do not show any aggression towards visitors, strictly following the famous “Ten Commandments of Montenegrins”.

The more respectable public opts for the neighboring seaport of Kotor, where multi-story cruise ships regularly call. Of course, luxury real estate in Kotor is concentrated at a decent distance from the port – either in the city itself or in its surroundings: for example, in Prčanj, Dobrota or Krimovica. In this case, the price range can be about one and a half million euros, in the most modest case up to five million.

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In no case should you exclude from consideration the city of Tivat, which is located near the international airport of the same name. In the city itself, prices rarely exceed half a million euros – especially near the port, which is sometimes called the “sea gate” of Montenegro. In the port itself, where boutiques of world-famous world brands have settled, almost all the luxury real estate in Montenegro has long been sold out, and objects of the corresponding level should be looked for at a distance from the city – albeit insignificant for now. They will cost around two million euros, although with some effort you can find quite decent options at a price not exceeding half a million euros.

Luxury real estate in Montenegro in border areas

Luxury real estate properties in Montenegro, located on the coast in two border regions – with Croatia and Albania, deserve special attention. In the latter case, the proximity of the country, which is still on the difficult path from dictatorship to civilization, is reflected, so the number of houses that meet the requirements for real estate in Montenegro is practically reduced to a minimum.

Much more often you can see here not so much a luxurious villa as an unattractive building, the integral attributes of which will be an Albanian flag, a satellite dish and, possibly, a Mercedes from the last century in the yard. Perhaps in the near future this region of Montenegro will be able to compete with all the others, but for now its lag is visible to the naked eye.

The opposite example is Herceg Novi, located very close to the Croatian border. Here you can immediately feel the closeness of a country that has moved ahead in many respects. Of course, this also affects the price level in terms of luxury real estate in Montenegro, and you can find houses, villas and luxury apartments here not only in closed urbanizations, but also in the city itself. With the average cost of apartments in this region of the country around 80,000 euros, luxury houses will cost around one and a half to two million, although the price of design projects will be two to three times higher.

In general, the price of luxury real estate in Montenegro, as well as the standard of living in general, is still significantly inferior to neighboring Croatia and Slovenia, although it is unconditionally ahead of Serbia, Bosnia and Herzegovina, Macedonia, not to mention Kosovo. However, the question of Montenegro’s accession to the EU and the Schengen area remains only a matter of time, so investments in local real estate seem very promising.

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