Real estate market in Montenegro: opinions, trends, prospects
This is an automatic translation.
Click here to read the publication in the original language.
Real estate market in Montenegro: opinions, trends, prospects
Montenegro has always been an attractive country, not only for tourists, but also for immigrants. The demand for apartments and houses has been growing every year, the real estate market in Montenegro has boasted excellent dynamics. Russians were particularly willing to buy housing, while the relatively high cost of real estate in Kotor and Budva did not stop those who wished to settle here. Prices grew along with demand, and such optimistic statistics persisted until around the winter of 2015.
Speaking specifically about Russian buyers, one can not but pay attention to the dependence of the situation on the weakening of the ruble. And this is not surprising, because if you could buy a decent house in Montenegro by the sea for a hard currency, now you can find a modest shack in the mountains for the same money.
To improve the real estate market in Montenegro, analysts offer local sellers (private traders, agencies, developers) to meet their regular customers who have been leading foreign investors for housing for about 8 years. An alarm signal about the decline in demand was that the construction of the zero cycle no longer spread like hot cakes. The law on obtaining temporary residence permit when buying any housing in Montenegro has slightly adjusted the situation, however this measure only smoothes out some formalities.
It should be noted that even in early 2015, the heads of real estate agencies assessed the situation in the real estate market as critical, and predicted a further drop in demand, which reached 70% during this period. However, the housing market of Montenegro has been stronger than expected, and the Russians continue to purchase apartments and houses on the Adriatic.
The secondary market is still active, and commercial real estate, in connection with the influx of tourists, remains quite popular.
Independent realtors now say that the decline in prices for both new and secondary real estate in Montenegro will be a real salvation for the market. However, those who planned to move and look after their homes, are strongly advised to wait, tk. more or less calm figures, which we see in the catalogs, are far from final. However, there is no need to expect stability, and the most weighted forecast could be insolvent in a matter of days. An excellent move by the horse in this situation is the long-term rental of real estate in Montenegro.
The support of emigrants and businessmen by the authorities is a small positive impetus, which is not capable of unraveling the market, but has its stimulating effect.
Rates for the development of the tourism industry, too, the real estate market in Montenegro is gradually healing, so there are prospects, and with time, hopefully they will be more and more interesting.
This is an automatic translation.
Click here to read the publication in the original language.
