Is Montenegro Property Set For Take Off?

Confirmation that Montenegro Airlines are to begin direct flights in June to the UK, specifically London Gatwick airport, there is speculation that this could signal a Montenegro property rush and further build the country as a tourist hot spot. As well as improving airline accessibility with more and more countries, there is also news of a major revamp of Montenegro’s infra-structure which will see vast improvements in the years to come.

Interestingly, in a similar fashion to Morocco, Montenegro has pushed for diplomatic links with the hot bed of property investment, the United Arab Emirates where investors are always on the look out for good value long term property markets. So does the Montenegro real estate market measure up?

While property in Montenegro would not normally spring to mind if you were looking for an overseas investment market, it is actually perfectly placed to benefit from the growing interest from tourists, already using the Euro, Montenegro sees its future as European Union member and offers those looking for a home abroad some beautiful properties at prices which are a fraction of those elsewhere in Europe.

The country itself only has a population of some 700,000 but reported a staggering 2.3 million overseas visitors in 2007, showing how Montenegro is slowly but surely beginning to find its feet in the international arena. Many experts are expecting the increase in tourist numbers of late to continue for a number of years, bringing in much need wealth and investment into the area and restore Montenegro to its former tourism glory. The market for property for sale in Montenegro is at a very early stage and while there have been issues with building permits in the past, these have largely being resolved.

Montenegro is a country with a property market that is on the up and looking to entrench itself further and further into the international scene, something which will open up the tourist market to more and more overseas travellers. News that the Four Seasons Hotel chain are planning to create a presence in the area, with a development in Tivat, is another sign of the times. All the ingredients are there for a prosperous property market.

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