Which is the best areas to invest in Monty?

Budva or Kotor....what is the average price per sqr mtr


RG

In short,

KOTOR - , but i think you have thought about all Kotor Bay which covers also towns like Herceg Novi, Risan and Tivat. Though all bay have not very nice beaches, it is still popular because sea is hotter than on the open sea. (last year in this time sea temp was app. 33C).
For investment purposes, depends what is your objective, you can buy a land with all documents for building for approximately 400 - 500 Euro / m2 very close to the sea. Of that land you can take 25 % for fundament, and 80% of land surface for apartments sqm. exp. if you buy 1000 m2 of land, you can have fundament around 250 m2 and in total of 800 m2. this is more-less standard for Kotor bay. Apartments selling price in Prcanj and Stoliv which is most popular are around 3500 E/m2. Tivat have prices from 2500 - . In Tivat most expencisive apartments and houses are close to Munk marina.
Kotor as a town is very well visited by tourists everyday, but there is not much developments because very bad beaches, and .. Kotor is just not town for living, it is town for visiting.
Herceg Novi and around have lot of developments , though apartments starts from 1700 E/m2.

Regarding a bay, I can suggest you to have look at Tivat area, and also to Lustica peninsula which belongs more to municipality Herceg Novi than Tivat.
Tivat because it is now small town but with Munk marina finished, it will get completely new city centre on 20 ha, also other developmets as Lustica Development and Blue Laguna resort can rize value of today investment.

BUDVA- it is already overcrowded, in winter Budva have around 10 000 citizen, in summer it have over 80 000. But, it is not all in Budva, but Budva Municipality also covers Sveti Stefan, Petrovac, Rezevici, beach Jaz (where we will hopefully have Maddona concert in late September).
Lot of big projects are around, I have mentioned some in Montenegro Investment thread. Current, and from what Budva be also known is Mirax project . Have look in astramontenegro dot com. Definitely Budva and area have potential for investment, due to the fact that building cost is still acceptable and for luxury apartments goes up to 700 E/m2, and selling price is much higher , around 3 000 E/m2.

Regarding a Budva, I can suggest you Rezevici area ,which is between Budva and Petrovac. Area is expecting very huge developments and is spared for exclusive tourism. Also, background of Buljarica long, sandy beach which is also expecting tender for application of serious investors. Estimation for all Bularica area from some Franch bureau is from 7 billion of Euros.
Land in Budva is expensive now and very hard to find.

If have any questions , feel free to ask

MLS

Hi, am wondering if you can help.Bought some land near Kotor over 1 year ago but am concerned for the following reasons.There were many owners and although the papers were signed and lodged in Kotor Council there is a matter of a Crossing Agreement that need to be signed.My Advocat says that this is not a problem just that he cannot get all family together to sign and when i put this land into Urbanisation this Crossing Agreement will not be relevant.There is a nearby plot that has been urbanised but the area as a whole has not yet been done.I wonder if i should just lodge my application now in Kortor as i dont seem to be making any progress with Advocat.I was also considering dividing up the plot-approx. 5000sqm] and selling part.What do you advise.Many thanks for any advice.Katherine

Hello Katherine,

Can you explain me in details what this Crossing Agreement means and does it have influence on future planing for the land? Do you have clear access to the land?
Did you get List Nepokretnosti (proof of the ownership)?

No matter what your lawyer says, you should sign any paper that is neccesary to sign. I hope past owners are not living far away and force them to organize to sign as soon as possible. If some of them are old, what you should do if dies? It is solvable, but takes more time and money to finish the job.

Regarding selling, also, depends of your intentions for the land.
Do you plan to build or just wait for some time and sell?

Be carefull with selling a part of the land because you can limit posibilities for selling for other part of the land, regarding investor interest for building some project there, building permisions and accesibility to the other part of the land.

Suggestion?
Go for urbanisation, but however you will have to wait Detailed Urbanistic Plan(DUP) from Municipality Kotor for your area. But, you can as owner of the land, have certain influence in DUP with suggestions and if you make some premliminary project for the land, more likely it will be accepted.Of ,course if it fits in current area planning and what is build already in area.
Urbanized land is easier to sell.

Also, there is new low for strangers in Montenegro which is on vote in Assembly. Suggestion for the low says in one part that foreigner as physical persons can not buy the land in Montenegro if that land is forest, medow, agricultural field, natural resources.
They can buy a land if subject of the contract is a house on the land up to 5000 m2 of the land.

You can send me details about the land so I can check it,on PM or on mail

regards,

MLS

Hi MLS and thank you so much for your response.I dont know if you have a real estate there or are an Advocat but you seem to know more than the person i am dealing with.As far as i know yes the Land is registered as according to my Accountant there the Stamp Duty to the Gov. was paid last year.When i made this purchase my husband and i knew that being more than 1 plot that thee were more than 1 owners.We were not told however that the access to one plot is not in the name of the person from whom we bought it.According to the Advocat there are 5 owners and they are not living locally-hence the problem.Now we have a friend in this area who is a citizen and he offered to go to each indivdual and get this paper signed but we felt it would be unfair to put him to that trouble since the ADVOCAT that this will cease to be an issue when land is urbanised.This i am having difficulty understanding but he seems prety adamant.The Advocat was recommended and i suppose in hindsight should not have signed the contract for the plot in question until all the paperwork was in order but we were not made aware that this problem exists.Currently he now advises that this area is being urbanised so yes we ned to get the Architect to draw some objects but he makes it sound like we are going to have to pay him for the different stages of planning.He has not yet said the amount but in view of outstanding matter of the unsigned ownership rights i am not sure where we stand.Can we apply directly to Kotor Council for answers and apply for Urbanisation without costing more money-as one gets the sense of certain people taking advantage of the foreigners lack od knowledge.By the way the land is in Orhovac.Many thanks for any advice, Katherine.p.s Should i have been issued with this Proof of Ownership List?

Hello Katherine,

Do you have List Nepokretnosti (Proof of the Ownership) on your name or name of your company?

In the name of the Company.Katherine