Montenegro is one of the most overlooked property goldmines in Europe. With absolutely beautiful terrain and rock bottom house prices, it is hard to see why more people have not flocked to purchase the latest developments.
One thing to remember is that Montenegro is, in fact, a very small country, approximately the size of Northern Ireland. Therefore, there are actually relatively few properties available for sale.
Previously, Montenegro was linked with Serbia which was a larger and generally fiercer candidate both economically and politically. Montenegro now wants to go it alone and so far it is looking good for this tiny little gem of a country.
Already, Montenegro is starting to gain considerable tourist interest and is now beginning to feature regularly in tour operators' brochures. This is of extreme importance to the general economic wellbeing of the country and, of course, is fundamental to the growth of the property market.
Montenegro boasts numerous geological attractions that have, until recently, been hidden away from the rest of the world. Amongst these are Europe's largest canyon and Europe's most southern fjord. It also has two UNESCO listed heritage towns, namely Kotor and Perast.
The property market in Montenegro is still very much in its infancy and offers a lot of future scope. As previously mentioned, this is also substantially linked to the burgeoning tourist market which has yet to reach its full potential.
Developments are few and far between in Montenegro. Currently there are fewer than ten new build developments across the beautiful coastline.
This is not to say that there are not enough properties available to purchase. On the contrary, there is a good supply of older properties that are ready for renovation and are a lot cheaper to purchase.
A renovation project can be purchased for as little as
