Approximately the size of Northern Ireland, Montenegro is a tiny country. Its beautiful coastline, which stretches for about 300 kilometers along the Adriatic Sea, is one of the country’s greatest assets. Despite its small size, the country is home to an abundance of stunning natural features, including five national parks, mountains with hiking trails, secret coves and beaches, and ski resorts in the country’s northernmost regions. International investors fro Europe, Scandinavia and the US are now snapping up properties across the country as the economy grows. Here are some of the best spots to buy or sell property in Montenegro.
Kotor, Tivat, and Herceg Novi Property
It’s not a stretch to say that Boka Kotorska Bay is among the world’s most picturesque. The bay is framed by towering mountains, which are mirrored in the Adriatic Sea’s brilliant blue. Along the route that goes around the Bay of Kotor are a series of picturesque towns and hamlets, each with its own unique blend of modern apartment buildings and centuries-old stone homes. The tall mountains make it difficult to find suitable building sites, so most of the homes are clustered near the water and boast breathtaking vistas of the sea.
Magical and remarkably authentic for their age, Kotor and Perast’s Old Towns are must-sees for anyone visiting Montenegro. As expected, real estate in these areas is more expensive than in other parts of Boka Bay due to their status as UNESCO World Heritage Sites. You can learn more about Perast properties and why they make such good investments and desirable rental properties here.
Tivat is a hip and happening town where young people go to soak up the sun and people-watch. Yachting enthusiasts flock to Porto Montenegro for the first-rate marina it offers. The high-end resort has been a boon to the local economy and a magnet for tourists ever since it opened its doors.
Not far away is the new marina town of Lustica Bay, complete with five-star hotels, golf courses, and waterfront properties. This development sits on a small bay on a peninsula of the same name.
The coastal town of Herceg Novi is often called “the sunniest town in Europe.” Restaurants line the waterfront in the historic district, which is located in close proximity to the water. There is a long promenade that runs parallel to the coast and is popular for strolls at all hours. Following the steps away from the water will bring you to a more rural setting, where houses and apartments are nestled into the hillsides along winding roads. Porto Novi is an exclusive resort near Herceg Novi that features a marina and high-end apartments for sale.
Prices for apartments in the Boka Bay area typically range from 110,000 to 130,000 EUR for a one-bedroom unit, and from 150,000 to 200,000 EUR for a two-bedroom unit with a view of the sea. Obviously, the cost of a home in Kotor, Tivat, or Herceg Novi will change depending on its distance from the water, the square footage, the quality of the view, and the level of finish.
Prices for houses typically begin in the €200,000 range.
The most expensive homes are waterfront mansions, which can cost up to 500,000 Euros and more.
Home prices along the coast of Montenegro are covered in greater detail in the report you can access by clicking here.
Tivat is home to the primary Montenegrin coastal international airport.
Two overseas institutions of higher education can be found nearby.
Budva Property Listings
There is no better place to experience Montenegrin culture than on the Budva Riviera, with its charming old town and stunning shoreline. It’s easy for a buyer to locate a state-of-the-art, ultra-modern apartment in Budva.
Apartments in brand-new, waterfront developments in Budva start at around EUR 130,000 for a one-bedroom and EUR 180,000 for a two-bedroom.
Average apartment prices range from 1,600 to 1,900 EUR /m2 the further inland you are from the coast.
One-bedroom furnished apartments can be found for 80.000 EUR, and two-bedroom apartments for 120.000 EUR – 150.000 EUR.
There are seventeen beaches along Budva’s twenty-one kilometres of coastline, and that includes the world-famous Sveti Stefan. Sveti Stefan was once a fishing village, but now it is home to a five-star Aman Resorts property housed in restored stone buildings with red-tiled roofs. Apartments in this exclusive area, which is surrounded on three sides by forests and overlooks the island and the Adriatic Sea, are scarce but well worth the money.
Visit coastal villages like Kuljace, Blizikuce, and Rezevici if you’re interested in purchasing a home with a garden and a tranquil setting. These historic communities exude a genuine Mediterranean vibe, complete with olive groves, gardens, and breathtaking sea vistas. Lovely villas can be had for as little as 400.000 EUR.
South of Budva and north of Bar is the picturesque coastal town of Petrovac.
Bar District Property for Sale
Montenegro’s largest seaside settlement is called “Bar.” The new city has wide boulevards lined with palm trees, pine trees, oleander, and agave, as well as modern squares and seaside promenades. The picturesque old town, which is home to an ancient archaeological site, sits on a hill above the modern city. The busy port of Bar connects Montenegro with Italy via the city of Bari. Prices for modern studios and one-bedroom apartments in Bar’s proximity to the city’s core and the beach begin at 75,000 EUR. Prices for apartments with two bedrooms average around 100,000 EUR. The price range per square metre is 1,400 EUR to 1,700 EUR.
There are more homes for sale in Bar than in Budva, particularly in the region between Bar and Ulcinj, Dobra Voda, Utjeha, and Kruce. Although home prices in Bar fluctuate depending on factors like location and construction quality, they are typically more affordable than in neighboring coastal communities. Houses with two or three bedrooms begin at 100,00 EUR.
Bar has a well-developed road network and a railroad that links it to Belgrade, Serbia. Around 45 minutes in a car will get you to the international airport in Podgorica, the capital city.
The largest freshwater lake in the Balkans is located in Lake Skadar National Park. A growing number of tourists are flocking to the municipality of Bar in Montenegro. There are numerous boutique wineries here that have been in operation for generations.
Location around Ulcinj
At thirteen kilometres in length, Velika Plaza makes the city of Ulcinj, Montenegro’s southernmost port, home to the Adriatic Sea’s longest beach. Ada Bojana, a naturist river and island with sandy beaches, is located to the south of the beach. The unique coastline of Valdanos Bay is home to centuries-old olive trees and is located not far from the revitalized city of Ulcinj. Hotels, restaurants, and art galleries can all be found in the neighborhood. Ulcinj is a historical city with a rich and eventful past.
The cost of an apartment here is comparable to what you’d pay in Bar.
Geographical Regions of Northern Montenegro: Zabljak and Kolasin
Located in northern Montenegro are two major ski areas: Zabljak and Kolasin. Zabljak, a picturesque mountain town 1450 metres above sea level, is surrounded by the stunning natural wonders of Durmitor National Park and Tara Canyon. Since Zabljak has a milder climate in the summer, it is a popular tourist destination.
Prices for two-bedroom wooden cottages typically begin in the 50,000 to 60,000 euro range.
The small town of Kolasin can be found in northern Montenegro. Kolasin 1450, a brand-new ski area, debuted that same year. In the heart of town, you’ll find the five-star Bianca Resort and Spa. The drive to Biogradska Gora National Park only takes about fifteen minutes. Travel time from Podgorica to Kolasin will be cut in half to just thirty minutes once a new highway is completed and opens in 2020 or 2021.
Podgorica
Administrative and commercial hub of Montenegro. Podgorica, the country’s capital, is the most populous settlement, and it’s growing rapidly. Long-term rental investments can benefit from this strategy.
