The past 15 years have seen the Montenegro property market grow exponentially and emerge as a key player in the second homes marketplace.
One of the reasons for its success is the country's versatility as a destination. From glitzy seaside properties and rustic waterfront homes to ski chalets in the mountains, Montenegro caters to all lifestyles, making it a fantastic place for a second home.
The recent surge in luxury resorts has seen high-end residential and mixed-use developments open up across the country. This includes Lustica Bay, where The Chedi hotel opened last year, and Portonovi, where Europe’s first One&Only hotel will open in 2020. The Ritz-Carlton Montenegro was also recently announced.
These five-star brands and ambitious projects, which will see more than €5 billion of investment over the next 5-10 years, demonstrate the future potential of Montenegro.
The eagerly awaited Portonovi, which opened this summer, is a mixed-use luxury resort with a superyacht marina that brings a new level of elegance to Montenegro. Many other resorts scheduled to open in the coming years will be looking to do the same.
Porto Montenegro, which has recently been purchased by the Investment Corporation of Dubai, has become recognised as the new standard for resort and marina living in the country. The marina town sees a premium quality of living mixed with five-star dining and shopping options.
For anyone who wishes to move away from the coast and towards the mountains, the north is a good destination. Towns like Kolašin and Žabljak have fantastic seasons for both summer and ski, with new infrastructure being added each year, meaning that both towns are building a name for themselves in the region.
A new motorway currently being built will allow travel between beach and the ski resorts in two hours, bringing a host of high-end 'ski-in, ski-out' developments to the market.
If you’re looking for a second home destination that has rental potential, the versatility of lifestyle and a busy market, Montenegro is a fine choice.