Montenegroan Investment Destination in the Heart of Europe

Economic Focus spoke to Aleksandra Drašković, Founder and CEO, Montenegro Properties Ltd.

Montenegro Properties was founded in 2006, and is today one of the leading real estate agencies in Montenegro. We have participated at many expos worldwide, among which is MIPIM Horizons, in 2009 to promote investments in Montenegro.

The company is recognised for combining its expertise in direct property sales to the end users with consulting large institutional and private investors on the best investment opportunities and making them acquainted with the comparative advantages that the Montenegrin market has to offer. It is a country where branded residences are continuing to expand.

Your agency won several prestigious awards for Best Real Estate Agent. You must be very proud of this recognition.

We are indeed proud that Montenegro Properties has won several prestigious awards for Best Real Estate Agent, Best Real Estate Marketing and Best Real Estate Agency Website in Montenegro as part of the International Property Awards, which recognize excellence in the property industry worldwide, promoting an international standard and rewarding the best estate agents globally. Judging was undertaken by a panel of over 70 experts from all over the world and chaired by an active member of the House of Lords, Lord Best.

Montenegro Properties appeared in the official winners’ publication “World’s Best 2020-2021”.

The world is changing rapidly and people want more and more from property. What do your customers want?

Introducing innovations in the property sector, switching to digital communication, online operations, has proven a necessity when it comes to the real estate brokerage business. The world is changing rapidly and thus also what we need from our property.

High-end properties are attracting a new generation of discerning buyers. People want to spend more time in outside spaces, among their family, and to be in contact with nature. Increasingly, discerning buyers want a high-quality lifestyle, they want a one-stop-shop, that is, resorts with all the amenities found within the complex itself. This is becoming a growing trend in the market, it is not considered an advantage anymore, but a real trend, thus making those locations which boast a swimming pool, a gym, 24/7 reception service, facility management within itself – simply, the places where people choose to stay!

In response to this trend, Luštica Bay has launched its first golf residences with a prolonged interest-free payment plan, which allows for moving in or renting out the residence up to 3 years before full payment is settled. These residences will certainly contribute and add value to positioning Montenegro as a prestigious destination.

How do you see the future perspective and unlock the new opportunities?

Montenegro is an emerging market, a developing country with enormous potential to be unlocked, and it is certainly set to become a future hub for HNWIs and a hotspot for branded residences. The global market for branded residences is continuing to expand, with brands seeking for new locations to grow their portfolios.

Montenegro is a young market still to be discovered and is set to take advantage of this growing demand. With several branded residences already present in Montenegro (Regent Hotel in Porto Montenegro, Kerzner International, One&Only Portonovi, Swissotel Resort, Accor, etc), we expect to unlock the future perspective and the new opportunities that will offer attractive ROI to potential investors and boost the growth of the country. The branded residences market is set to grow by 55% by 2026 globally.

What should be improved?

There are a few challenges, though, that Montenegro has to face and shortcomings to work on in the near future, such as the fact that Montenegro still lacks a strong road infrastructure and improving the airline connections is a necessity.

Increasingly, discerning buyers want a high-quality lifestyle, they want a one-stop-shop, i.e. resorts with all the amenities within the complex itself.

About Montenegro

Montenegro occupies a remarkable corner of Europe, located in the continent’s South-eastern region. It is the fifth fastest growing tourist destination in the world according to a World Tourism Organization report (UNWTO).

The biggest comparative advantage that Montenegro possesses is its breathtaking natural landscape. The proximity of the mountains and the sea, one of the most beautiful bays in the world, Kotor Bay, its clear blue Adriatic sea, a maximum of two hours flying to major EU cities, prices still lower than in other Europe destinations, are just some of its attractions. Additions points worth mentioning:

• It is an EU member candidate country

• Tax on corporate profits – 9% - 15% (for the profit up to 100,000 EUR)

• The lowest income tax in the region and one of the lowest in Europe

• EUR as currency of payment

• Foreign investors receive the same treatment as nationals

• Country has successfully preserved macroeconomic stability amid the economic turmoil of recent times

• It is a safe destination

• Unique natural potential.

An Emerging Yachting Hub

Montenegro is well positioned to become one of the strongest yachting hubs in the world moving forward.

Montenegro has remarkable comparative advantages which can position itself as a world centre for marine leisure activities, especially for superyachts. Not only it is blessed with a stunning, safe and secluded haven in the Bay of Kotor, the country also has a long heritage of marine engineering that it can be proud of, and especially relatively low customs rates can significantly contribute to positioning Montenegro on the world map of superyacht destinations.

As a country strategically located on the axis between the Western Mediterranean core superyachting arena and the Caribbean arena to the West, and the fast-growing Arabian and Asian arena to the East, Montenegro is well placed to become one of the most sought after yachting hubs in the world moving forward.

Golf Courses and the First Golf Residences in this part of Europe

Montenegro’s premier golf residences, including an 18-hole golf course designed by the famous golf architect Gary Player, nestles atop breathtaking cliffs overlooking the sparkling Adriatic Sea. This exclusive clifftop neighbourhood offers an unparalleled lifestyle experience for those seeking the perfect blend of luxury, natural beauty, and outdoor adventure.

Every aspect of this project has been thoughtfully designed to harmonize with the Mediterranean-inspired architecture, seamlessly blending indoor and outdoor living. Luxuriate in the tranquility of your elegant residence, adorned with high-quality finishes and natural materials that reflect the timeless charm of the region.

The Golf Course is part of the Lustica Bay residential development, which includes luxurious villas, townhouses, and apartments with a range of amenities such as clubhouses, restaurants, bars, shops and more.

Contact Montenegro Properties Ltd info@montenegroproperties.com https://www.montenegroproperties. com

Montenegro Properties Ltd is a Platinum member of the ABCC and Aleksandra Drašković will be speaking at ABES2023.