Buying in Montenegro

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siob07

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Anyone know anything about purchasing property in Montengro? Just back from holidays there and its fabulous.
 
Try googling Baltimore Holdings, Cork based developers.
Also Daft.ie have an overseas section.
 
I agree with your siob07, it is one of the most beautiful places in Europe and I would love to own a property with a view of the Bay of Kotor as a holiday home, but it doesn't seem like a great investment at the minute. Prices are extremely high along the coast and returns are low. Out of season, cities like Kotor and Budva are quite desolate places to be, so your rental market would effectively be six months. There is also the potential problem of land rights and ownership, which could rear its head in the future. It's still quite cheap to rent there so if I were you, I'd continue to do this and have the option of staying in a variety of places.
 
I have a friend ( Irish) who runs a couple of businesses over there, one of which is sourcing property for investors - PM me if you want me to put you in touch.
Have been over and can quite honestly say the coastal areas have to be one of the nicest Ive been to.
 
budapest said:
I agree with your siob07, it is one of the most beautiful places in Europe and I would love to own a property with a view of the Bay of Kotor as a holiday home, but it doesn't seem like a great investment at the minute. Prices are extremely high along the coast and returns are low. Out of season, cities like Kotor and Budva are quite desolate places to be, so your rental market would effectively be six months. There is also the potential problem of land rights and ownership, which could rear its head in the future. It's still quite cheap to rent there so if I were you, I'd continue to do this and have the option of staying in a variety of places.
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Budapest, agree that prices have peaked but thought that the ownership issue was more pertinent to Croatia than Montenegro? In fairness Montenegro trades in the Euro - no currency risk - has very limited land availabilty on the coast - scarcity value - , and, imo, is less affected by the Yugoslav / Ethnic tensions hangover than other places in the region.
Access looks pretty good through Dubrovnic and Podgorica Airport is being developed.
On top of this , EU accession is possible within the next 5 years or so , at least the EU seems to be favourably disposed towards them

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I have nothing to sell there , just thought that as a long term investment the picture is not so bleak as sometimes painted by folks....
 
As a visitor for a number of years I'd not really go for Montenegro. In terms of infrastructure and development MNG is not so great, and in the value for money stakes well behind even Bosnia. Long term I can't see it being a great investment spot, far better (if you're looking for coastal) to head further south to Albania - advantages - less Russian and Balkan Mafia, better beaches, less pollution, and buy in rates are very very low. Plus there is increasing tourism and better service. Again it's only one person's opinion, but a new investor into the area would be better served to look elsewhere.
 
I too have been interested in Albania. Some would say it is too early at this stage though, and best left for "the intrepid" investor. I agree, the potential in the region is huge providing you do you research and have a reliable agent, lawyer to assist
 
Albania has got to indeed be for the intrepid investor. I see it as very high risk - there is a huge mafia presence (albanian mafia), the country is very poor and crime is rampant. Tirana is not a safe city - my father lived there for a year, his street protected by the military.
not sure if the coastal areas are any better.
I think it would be pretty difficult to find a reliable lawyer in albania, or one over here who knows albanian law, and unless the agent was directly involved in developing the project I would be concerned about their knowledge on it as they would be just being passed information from the developer there. Perhaps if the agent was specific to albania it would give them a bit more crediblity

If there was a major albanian developer that has completed a number of projects already that you could inspect it would go a good way to reducing risk.
 
I'd steer clear of Albania unless I have a lot of money to risk long long term. I drove there from Prague last year on holiday (van broke down there and we flew back from Greece) and to be honest Tirana seemed like a Mogadishu or some third world city. Everything was falling apart. The roads were terrible with pot holes everywhere. We didnt feel safe at all.
I hope noone whos Albanian and reading this thread feels insulted but thats just what it was like for us. Sorry for any hurt feelings.
 
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