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Russian Adriatic

Montenegro is a good fit for those who like to go abroad for the weekend
01.09.2012
Homesoverseas.ru editorial office
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Russian tourists on the Montenegrin coast are not diminishing: they are still attracted to the picturesque scenery, clear sea, good air service. It is hoped that the new development projects will return to these shores and property buyers.
The wave of Russian interest in Montenegro has helped the economy of the young country a lot. After the collapse of Yugoslavia, it turned out that there were practically no large industrial enterprises on the territory of the young state – which, of course, is good for the environment, but negatively affects the number of jobs.

It is logical that in the late 90s. local residents began to engage in the tourism business en masse, and when vacationers began to price apartments and villas at the resort, all as one moved into the real estate sector. Income from the sale of housing on the Montenegrin Adriatic coast turned out to be fast, and Russians quickly took the first place among buyers. The crisis has seriously hit this market – demand has fallen, and after it, prices have turned out to be overheated.

History, visas, taxes
Russian Russians and Montenegro are connected by many things: royal kinship (the daughters of King Nikola of Montenegro married Russian nobles: one for the grandson of Nicholas I, and the other for the famous Duke), the liberation mission of the Russian Empire in the Balkans during the Russian-Turkish wars, Orthodoxy, similar languages… Today, for tourists and investors, of course, the friendly legislation of the country is more important. Russians do not need visas for up to 30 days of stay, it is quite easy to get a three–month visa, and it is a matter of time to get a permanent residence permit.

Tatiana Khomutova, Director of Risan Club, says: "Montenegro is one of the most attractive places for investment. There are several reasons: the simplicity of real estate registration and reasonable prices, good communication between our countries, the goodwill of the local population and, most importantly, the steadily growing rating of this Mediterranean area."

In Montenegro, foreigners can purchase buildings and land plots with an area of up to 5,000 square meters. m with buildings. Other advantages include preferential taxation compared to most European countries and low utility bills. "Let's not forget that Montenegro is a country that is clearly oriented towards joining the EU. On November 9, 2010, the European Commission decided that Montenegro would receive the status of a candidate for the European Union – although it has not yet specified the start date of negotiations," says Natalia Kolesnikova, Director of International Relations at the Adriatic Style Group.

The resort hit parade
The most popular part of Montenegro is the Budva Riviera, where the cities and towns of Budva, Becici, Milocer, Sveti Stefan, Petrovac, Sutomore are located.

The most expensive real estate is in Budva and in the Kotor area, on the shores of the Bay of Kotor. According to Svetlana Timashova, a leading investment expert at Red Feniks, prices for new housing in these areas are kept at about 2000 euros per 1 sq. m. "I would like to note separately that the Kotor region is especially beautiful, Montenegrin and Serbian intellectuals have lived here for centuries, the coast is recognized by UNESCO as a world heritage site, therefore, to live in this part of Montenegro it is especially pleasant," says Svetlana Timashova. At the same time, both Kotor and Budva are already very densely built up, and developers are looking for new promising territories on the coast.

The surroundings of the Bar in the southern part of the country and Herceg Novi in the north are considered attractive: here prices start from 1300 euros per 1 sq. m. Tatyana Khomutova adds that interest in sites in the mountains has increased dramatically (for example, in the Durmitor ski resort). The Lustica Peninsula stands apart, where several major projects are planned.

"Demand fell in late 2008 and early 2009, and prices dropped by 30%," says Natalia Kolesnikova. – In the middle of 2010, there was some revival." Demand is gradually shifting from modest apartments up to 100,000 euros to new apartments and small houses on the secondary market up to 350,000 euros. There has been a trend of buying business-class housing. Unlike the pre-crisis period, such offers are no longer uncommon in the real estate market of Montenegro.

The lower price level for real estate in Montenegro by the sea is 500 euros per 1 sq. m, but it will be far from a prestigious area and a building of poor quality. One of the highest slats is 9,000 euros per 1 sq. m. m next to the new marina in Tivat. According to Karin Hitchcock, director of Catareos d.o.o., the price often depends on the mentality and needs of the buyer, as well as on how much the seller wants to sell the property.
With the development of the real estate market, the infrastructure is gradually being improved. "Progress is visible to the naked eye. Over the past two years, kilometers of rebuilt roads and sewage systems have appeared, and work is in full swing. Montenegro not only plans things on paper, but also actually does them, which is especially encouraging in the context of the recent crisis," says Karin Hitchcock.

For holidays and immigration
It is very important for the buyer of real estate in Montenegro to determine for himself the purpose for which the object is being purchased. Natalia Kolesnikova argues: if housing is necessary for summer holidays, then in this case it is possible to consider objects in resort (Becici, Rafailovici, Petrovac, Sutomore, Shushan) and country villages (Krasici, Dobry Vody, Solace, Steeper). It is better to live permanently in cities with developed infrastructure (Herceg Novi, Tivat, Kotor, Budva, Bar). Budva is more suitable for people who prefer to be in the center of events. Boko Kotor Bay is for those who prefer beautiful views. The bar is very convenient for permanent residence, and the atmosphere in the towns of the Bar Riviera is completely different than on the north coast.
You should pay attention to the distance to the airports of Tivat and Podgorica. The availability and accessibility of beaches are important: mainly concrete in the Bay of Kotor, sandy on the Budva and Ulcinj Riviera, pebbly and small-pebbled on the Bar Riviera.

Thanks to visa–free entry and excellent air links with Russia, Montenegro is a suitable option for those who like to fly to the coast with their family for holidays, vacations or weekends. Low prices for parking and maintenance of yachts attract yachtsmen to the Montenegrin Adriatic.
Montenegro should not expect the gloss of Western Europe – so far it is a country for fans of natural beauty, the purest waves of the Adriatic, birdsong, morning markets with fresh products, cozy life in small towns by the sea.

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Discussion
Ter @
1) Sutomore - it Barska riviera, not Budva
2) Housing prices have not fallen by 30%, this is not true. In Budva one penny not dropped
3) 500 euros per square meter is not in the Primorye prices
13 of Jul, 2011 10:49:19
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