Montenegro has the world’s fastest growing tourism industry according to the World Travel and Tourism Council (WTTC) which has predicted that tourism will grow faster there than anywhere else in the world over a ten-year period with a 10% year-on-year growth. Montenegro lies just south of Croatia on the Adriatic Sea, and Montenegro Airlines has reduced the journey time from London to just 2.5 hours, whereas previously passengers arrived via Dubrovnik Airport, some 45 minutes drive from the main resorts on the coast.
New direct flights from the UK to Montenegro make the little Adriatic country more accessible for Brits looking for a second home in the sun. Montenegro Airlines now fly twice a week to Tivat, and once a week to the capital, Podgorica. British Airways, easyJet, Flybe, Jet2, Monarch and Thomson will continue with their flights to Croatia’s Dubrovnik airport giving passengers a daily flight choice.
An independent state for just six years, the Government has been building on Montenegro’s reputation as an elite tourist destination with large projects, such as Porto Montenegro – a luxury yacht marina and waterfront development, already well publicised and now well underway. Leading hotel groups: Banyan Tree, Hilton, Regent, Amman and Wyndham Grand are already in the country, or about to start development.
New developments are catering to the demand, with the latest being ‘Sea Breeze’, a villa development in the style of a Dalmatian hill town overlooking Kotor Bay. Developer of Sea Breeze, John Kennedy of Boka Group, believes the tourism growth and government plans to build an elite tourism sector are good news for the property sector. He says: “It’s often difficult to get a hotel room in Montenegro so those wanting to buy-to-let should do well.
“The real estate market in Montenegro is still in its infancy, and represents good value for money compared to its neighbours Italy and Croatia, and has a strong secondary market from a Russian client base which has been pushing prices upwards. The country uses only the Euro which is highly competitive against other currencies.”
The fifty, two and three bedroom villas planned as part of the Sea Breeze development are situated on the lower slopes of a hillside, surrounded by a green belt of olive and pine groves, with panoramic views over Kotor Bay, one of the main tourism hotspots of the country.
“The concept has been to create a community, in the style of a Dalmatian hill town,” John Kennedy explains.” It’s a place to relax and unwind, and a world away from the bustle of life in the UK. Given that the summer sun is replaced in the winter months by ski resorts just a short drive away, getting to Montenegro even for a long weekend is suddenly a realistic alternative and gives year-round use and value to villa owners”.
With Sea Breeze just a ten minute drive from the historic Venetian walled town of Kotor, a UNESCO World Heritage site and ten minutes from the cosmopolitan bustle of the Porto Montenegro Marina and two PGA golf courses, the developers have seen strong interest from both second home owners and those wanting an investment opportunity with great letting potential.
Each detached villa will feature open plan living on the ground floor with a spacious balcony and basement containing a family room or spa, with an adjoining glass-walled wine cellar and built-in humidor. Additionally homes come with a private pool, garage and driveway and, rather surprisingly, a brand new Fiat Punto family car. A range of options include ‘smart home’ systems and enhancement packages for living, bathroom and kitchen areas. Site management and a rental programme are also offered through an annual care package.
According to international agent Savills Montenegro, which is marketing the villas, property prices are keen and competitive for the area. Prices start at €399,000 for a 210 sq. metre two bedroom villa and from €899,000 for a 243 sq. metre three bedroom villa.
For more information, go on-line at: www.seabreeze.me