Montenegro: Real Estate Update

What a difference a year makes. At the start of 2008 Montenegro was heralded as one the best places for foreign investors to buy property, helped along by new law proposals which would make it easier for overseas property buyers to purchase real estate in the country.

However the country has not escaped the financial turmoil gripping the globe. With some perceiving there is a lack of economic security in Montenegro and the infrastructure worrying some, the real estate market has stagnated and properties have not seen the surge in prices that was once predicted.

There is good news on the horizon for Montenegrin property investors. The recent parliamentary election which saw Prime Minister Milo Djukanovic’s coalition party claim victory may provide impetus for the property market.

Djukanovic is making EU accession and the Montenegrin economy a priority and both of these factors could help rejuvenate the jaded real estate market. With money being spent on infrastructure and a proposed reduction of red tape for overseas property investors, many believe that despite the economic climate, Montenegro looks to be a good place to invest in property.

Read our free Montenegro Buyer’s Guide.

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