In the historic Kotor Bay region, demand and prices are rising as the country expands its appeal to foreign buyers.
The housing market in Montenegro was affected by the global real estate crisis of 2008, with a loss of foreign buyers, though Russians did continue to buy homes, said Ivana Vukicevic, the head of the property portfolio at Montenegro Prospects. While housing prices plummeted by as much as 20 to 30 percent in mid-2009, the cost of land was rising, as Russians sought property on which to build homes.
Commercial property investment activity in Europe reached its highest level since 2007, totalling €102.5 billion in the first half of 2015, the latest market analysis report shows.
The investment volume across the 16 participating countries was 25% up on the same period last year, according to the European Investment Briefing report from international real estate advisor Savills.
Opt in here