Montenegro, the Next Monaco!

By
Real Estate Broker/Owner with Broad & Bailey Realty LLC

Did you know...

  • The 51 mile long canyon of the river Tara is the second largest and deepest chasm in the world after the Grand Canyon.
  • Biogradska gora, national park, is one of only three remaining primeval and virgin forests in Europe.
  • Four national parks cover 7% of the Montenegrin territory.
  • Boka Kotorska bay is Europe's most southern fjord.
  • Kotor town is a UNESCO designated world heritage site.

    All of which makes Montenegro an important tourist destination.
  • Montenegro



    If the name Montenegro does not ring a bell, that is because over the past 60 years Montenegro has been a part of various incarnations of former communist Yugoslavia. On June 3, 2006 Montenegro declared independence and became the 192nd member state of the United Nations.

    Known to the locals as Crna Gora (Black Mountain), Montenegro is rich in diverse history with strong influences of the Austro-Hungarian, Ottoman and Italian empires.

    The Balkan wars of the 1990's while not fought on Montenegrin soil, had a devastating effect on the economy and the country's infrastructure. Montenegro's main source of income -tourism- disappeared, and left the economy in tatters. Now, Montenegro is re-emerging from the darkness of the past 15 years, and is on the verge of a property boom.

    Its spectacular coast line and unspoiled natural beauty offers variety for even the most traveled vacationers. Montenegro is a relaxed and easygoing country with a multitude of natural wonders. Montenegrins are proud and welcoming people who cherish longstanding independence and local traditions. It is the last hidden gem of Europe!

    US-Montenegro

    Tourism

    Montenegro's Travel & Tourism is expected to grow 15.2% in 2007 and by 10.7% per annum, in real terms, between 2008 and 2017.

    The Montenegro Travel & Tourism economy is ranked number 1 in Long-term (10-year) Growth out of 176 countries as estimated by the World Travel & Tourism Council and Oxford Economic Forecasting.

    "At the birth of our planet, the most beautiful encounter between land and sea must have happened at the coast of Montenegro. When the pearls of nature were sown, handfuls of them were cast on this soil." -- Lord Byron

    Interested in investing in Montenegro? Email me.

    Sincerely,
    Peter Z. Nikic
    Licensed Real Estate Broker & Investor (NY & Montenegro)
    Email: peter@nikic.com

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    Rainer
    56,978
    Peter Nikic
    Broad & Bailey Realty LLC - Valhalla, NY

    Audry, thank. It might not be local real estate, but it is still real estate (the hottest in europe right now:-)

    Angela, just keep your eyes and ears open, you never know, it could start before next year.

    Jennifer, thank you. In a couple of years, you'll hear of people vacationing in Montenegro, like you hear people talking of Monaco. Today however, you might hear of investors wanting to develop a resort in Montenegro. This is where I come in.

    Our company, headquartered in New York, is a leading resource for investment opportunities in Montenegro. Our partners have a strong background in business and real estate development. We're proud to be the United States' most trusted and knowledgable source of Montenegrin real estate and business opportunities.

    Jun 10, 2008 11:42 PM #6
    Rainmaker
    167,113
    Sonja Babic
    Sonja Babic/PRIME Realty NC, LLC - New Bern, NC
    New Bern NC, PRIME Realty NC, LLC

    I would love a little place in Herceg Novi as soon as gas prices get more reasonable and can afford plain ticket. Great post and so true!

    Jun 11, 2008 02:10 PM #7
    Rainer
    56,978
    Peter Nikic
    Broad & Bailey Realty LLC - Valhalla, NY

    Sonja, Herceg Novi is absolutely beautiful, the outdoors cafe's and restaurants (like France or Italy only better:-). I personally love Kotor (Stari Grad), but the big developement area is going to be Velika Plaza (Long Beach) in Ulcinj (this is where I was born).

    Jun 12, 2008 01:23 AM #8
    Rainer
    8,209
    Josh Beckman
    Millennium 3 Real Estate - Buena Park, CA

    I followed the links and saw Montenegro is one of the best places to visit in 2008. Great post, It looks like a county I would love to see.

    Jun 12, 2008 09:07 AM #9
    Rainer
    56,978
    Peter Nikic
    Broad & Bailey Realty LLC - Valhalla, NY

    Josh, thanks. I hope you get the opportunity to visit one day. In the mean time, find yourself an invester/developer swing by NY pick me up and we'll tour the country for investment opportunities (investment opportunities are amazing right now).

    Jun 12, 2008 09:51 AM #10
    Rainer
    73,686
    Pam Pugmire
    Silvercreek Realty Group - Meridian, ID
    Meridian Idaho Real Estate

    I've heard a lot about Montenegro lately.  I would love to go there, and the fact that you could own property there would make your visits a tax write off!

    Jun 24, 2008 05:13 PM #11
    Rainmaker
    374,572
    Donna Yates
    BHGRE - Metro Brokers - Blue Ridge, GA
    Blue Ridge Mountains

    Your title caught my eye because it's been awhile since I've thought aobut Montenegro.  I just love to say that name.  Very informative post.  Thanks.

    Jun 25, 2008 01:27 AM #12
    Rainer
    56,978
    Peter Nikic
    Broad & Bailey Realty LLC - Valhalla, NY

    Pam, I'm happy to hear you say that, cause you'll be hearing a lot more about it in the future. Since you're a realtor, you could find an investor who would pay for your trip to go scout properties.

    Donna, great name "Montenegro", isn't it ;-) it also happens to be a great place and one of the last undiscovered gems of europe. thanks.

    Jun 25, 2008 02:35 AM #13
    Rainer
    9,062
    Dasaret Cefa
    Edgestone Realty, Alba First Coast Management - San Marino, CA
    Earn 10% on your money. I acquire and manage rent

    From someone who's been there:  it is really a piece of heaven on earth! 

     

    Jun 30, 2008 04:34 AM #14
    Rainer
    56,978
    Peter Nikic
    Broad & Bailey Realty LLC - Valhalla, NY

    Das, thank you. What part of Montenegro did you go to? I was born in Ulcinj/Ulqin, but have been through most of Montenegro, of course it's not that big.

    The hot areas are Budva, Kotor, Herceg Novi, Podgorica but Ulcinj will wind up being the powerhouse once developed.

    Jun 30, 2008 04:56 AM #15
    Rainer
    56,978
    Peter Nikic
    Broad & Bailey Realty LLC - Valhalla, NY

    Kusak, Montenegro is beautiful, and not expensive when you compare it to many other parts of europe.

    btw, you are welcome to comment, but please add your full name and email since you are not a member, just so everyone knows who you are. also, you can join active rain and write your own blogs on Montenegro. here's the link to join:

    http://activerain.com/action/referrals/pnikic

    maybe we could even do business together one day. I am from Ulcinj and I have family in Ulcinj, Herceg Novi, Kotor and Podgorica.

    Jul 14, 2008 04:31 AM #17
    Rainer
    9,062
    Dasaret Cefa
    Edgestone Realty, Alba First Coast Management - San Marino, CA
    Earn 10% on your money. I acquire and manage rent

    VIVA MONTENEGRO!  THE HOTTEST REAL ESTATE MARKET IN EUROPE!  IT'S BEAUTIFUL!

    Jul 18, 2008 12:41 PM #18
    Rainer
    56,978
    Peter Nikic
    Broad & Bailey Realty LLC - Valhalla, NY

    Das, yes, it very well might be:-) thank you.

    Jul 18, 2008 12:59 PM #19
    Anonymous
    Zahid

    Can a foreigner buy a property in Montenegro.

    Jul 20, 2008 06:32 PM #20
    Rainer
    56,978
    Peter Nikic
    Broad & Bailey Realty LLC - Valhalla, NY

    Zahid, yes a foreigner can buy property in Montenegro.

    Jul 21, 2008 04:23 AM #21
    Rainer
    34,860
    Poppy Dinsey
    Globrix - Anaheim, CA
    London, UK

    Peter I just went to some of the Montenegro tourism websites, it's just so stunning. I remember falling in love with it after Casino Royale! I saw on TripAdvisor lots of couples planning their weddings there, I bet it's a fantastic place for a big wedding. I really will have to go. Great post!

    Jul 25, 2008 10:26 PM #22
    Rainer
    56,978
    Peter Nikic
    Broad & Bailey Realty LLC - Valhalla, NY

    Poppy, wasn't casino rayale great? I loved it. yes, montenegro is pretty amazing. lots of development potential, see: http://www.velikaplaza.info/ if you haven't already. this is the town that i'm from.

    Jul 26, 2008 06:29 AM #23
    Anonymous
    antonio rossi

    Montenegro sounds like a good investment, im Irish italian, and my family told me that alot of Irish people are moving there, they also said that people from there are good. I just boght a 30 family building there and it was a good price,

    Sep 23, 2008 08:15 PM #24
    Rainer
    56,978
    Peter Nikic
    Broad & Bailey Realty LLC - Valhalla, NY

    Antonio, yes, it is. I'm glad that it's working out for you. Irish people and investors are welcomed. Growing up in NY, some of my best friends are Irish (great people). btw. where did you buy? Podgorica?

    Sep 25, 2008 01:18 AM #25
    Anonymous
    xbcqoyncbiu
    JPnTis dqxijovqzstn
    Oct 28, 2011 04:05 AM #26
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