Luxury properties for sale at auction in Montenegro

Three years ago, buyers interested in luxury real estate with unique design, modern comfort and located in the most attractive locations in Montenegro, received a loyal and internationally recognized partner who "guides" them through the entire process, from search to purchase of the desired property. Sotheby's Realty Montenegro, with its head office in Porto Montenegro and a significant number of transactions, has set new standards in real estate and supply in Montenegro. New in their offer, and for the first time on the real estate market in Montenegro, is the possibility to sell and buyreal estate through the famous Sotheby's auction! "In addition to a wide and carefully selected offer of luxury real estate, starting this year we offer our clients the possibility to sell or buyreal estate through auction. We are able to offer such a sophisticated option because Sotheby's has acquired the largest and most prestigious auction house in luxury real estate, Consierge Auctions House. The excellent business of this auction house is evidenced by the fact that its share of the luxury real estate auction market was as much as 90%! With the acquisition of Consierge Auctions House, now operating under the Sotheby's Consierge Auctions brand, we also gained their significant database of high value properties and clients of this profile. We are proud that we are the first to introduce such a novelty on the Montenegrin market and offer our clients the option of auction sale or purchase of real estate," says Niko Lakovic, director of Montenegro Sotheby's Realty.

Lakovic adds that practice has shown that the auction sale of real estate is possible only in cases of high-end luxury real estate, and explains that as a rule, the average price of real estate sold at auction cannot be lower than 2.5 million euros. Talking about the entire procedure, Lackovic says that after evaluating properties suitable for auction sale, the inspection and appraisal is conducted by authorized appraisers from the UK who also conduct the auction sale for a global audience. The auction itself takes place online, and experience has shown that the success rate of selling luxury real estate this way is almost 100%. Given that Sotheby's is a prestigious global brand with an impressive offering and client base, Lakovic believes that the first luxury real estate auction in Montenegro awaits us in the near future.

"The sale of luxury real estate through auction is already widespread all over the world. There is no reason not to believe that this sales model will be adopted here as well. People are in love with the Mediterranean, more and more international clients are visiting, interested and interested in investing in a sunny country with incredible natural beauty and excellent investment opportunities. Residential and yachting projects such as Porto Montenegro, Lustica Bay and Portonovi have helped position Montenegro on the map of the most desirable tourist destinations, where more and more foreigners are finding their home in the most beautiful places, surrounded by unspoiled nature and at the same time providing modern comfort. If we provide the opportunity to auction one of the spectacular beachfront properties overlooking Boca or magical sunsets, I am sure people will not be indifferent, quite the contrary," says Lakovic. Lakovic adds that interest in luxury real estate in Montenegro is not decreasing, but expectedly increasing.

Nico Lakovic, photo: Luxury Properties "Montenegro is recognized as the pearl of the Adriatic Sea and, therefore, is becoming increasingly interesting and popular among those who want to find their second or even third home here - in a country with a wonderful climate, clean air, access to the sea, good ski resorts and all the parameters that create conditions for a high quality of life." When asked about price increases, Lackovic explains that price increases in the real estate market have been amplified by inflationary risk and have led to increased demand for real estate purchases. "Luxury real estate prices in Montenegro, although rising, are still lower than in many European countries. The great interest of international clients to invest in Montenegro clearly indicates that the trend of rising prices is expected to continue, and investing in luxury real estate in our country is considered an excellent financial move, regardless of whether one thinks of renting out or subsequent resale of the purchased property". "I am confident that the luxury real estate market in Montenegro is in for a golden time and that we will feel its benefits throughout the country. In this regard, I am pleased that we are now able to sell luxury real estate from Montenegro and on a global level through the auction, which is attended by clients with very high financial means," concludes Lakovic.

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