NATO is attracting new buyers in Montenegro.

The growing interest of Western European clients in real estate in Montenegro due to its NATO membership, the priority of the Bay of Kotor over Budva, and the increasing foreign investments in the construction of tourist and residential complexes are the main features of the real estate market on the Montenegrin coast in 2017.

Real estate experts believe that the property market in 2017 will be characterized by falling prices, but also by an increase in interest from the Western European market. "Russian middle classes, who were previously the most interested in purchasing real estate, are now significantly fewer, but I believe that for all clients, no matter where they come from, the most influential factor is the currency risk they face when buying. The dollar and the ruble have weakened, and the pound is in an unfavorable position. And this is a decisive factor," says Ivan Djurdjevac, who mediates in the sale of real estate on the Montenegrin coast.

Irina Roskazova at her agency notes an increase in interest from clients in Western Europe in real estate in Montenegro and believes that this is influenced by the country's accession to NATO. "The main feature of this year for us is that clients from the EU have returned to us. This is related to joining NATO. I know that many here are not happy about it, but for Montenegro, this is a big step, especially for economic development and the real estate market. It is proof of safety for other countries," says Roskazova.

According to the latest quarterly statistics, the average price per square meter of an apartment in a new building is 1,100 euros. It is the most expensive in Bar at 1,460 euros, in Podgorica at 1,120 euros, while in Budva it has dropped to less than 1,000 euros (955). However, local authorities claim that this is an unrealistic price, reduced by about 300 euros, as the statistics take into account the prices of apartments from the Montenegrin solidarity housing fund, which are sold at significantly lower prices than the average.

The penthouse in Porto Montenegro costs between a quarter of a million and 5.5 million euros. With the growing interest from buyers in Western Europe, their focus has also shifted. Instead of Budva, which used to be the most desired destination for real estate investments, the priority now belongs to Boka Kotorska.

You can also read: 'We know how - Montenegro like Monaco' Boka Kotorska is a place for the largest foreign investments in real estate. From Herceg Novi, where Porto Novi is being built with a marina and about 300 luxury apartments, to Luštica Bay, where over 1,000 residential apartments and villas will be added to the hotels, and to Porto Montenegro, whose owner marked the beginning of major real estate investments with his arrival in Tivat in 2006. However, their prices are astronomical for ordinary citizens, averaging around 6,500 euros per square meter, although there are even more expensive options, especially when it comes to villas on the coast. For instance, a penthouse in Porto Montenegro costs between a quarter of a million and 5.5 million euros. For this price, in addition to their Mediterranean and Venetian-style property, the buyer also receives luxurious service. "Besides architecture, the lifestyle we offer is also important. Each residence in Porto Montenegro has its own reception, like in a hotel, its own pool, an impressive view of the sea and mountains, membership in the Porto Montenegro Apartment Owners Club with concierge service that organizes stays in Porto Montenegro as well as in Montenegro. This means that our team is at their disposal 24 hours a day, booking various entertainment for them, from excursions to restaurants," says Kristina Škanata from the press service.

The fact that there are always buyers for the most expensive real estate is evidenced by previously announced information that over the past ten years, 260 properties have been sold in Porto Montenegro for a total of more than 200 million euros. Buyers of apartments come from all over the world, with the largest groups being from Russia, Serbia, the United Kingdom, Montenegro, Italy, the United Arab Emirates, Ukraine, the USA, and Bulgaria.