Holiday Lettings news - Montenegro property market 'poised'

Montenegro property market 'poised'

Montenegro is set to become one of the most attractive investment opportunities in the global property market, according to a real estate specialist.

Pelle Langli, CEO of Emerging Real Estate, said that the market in Montenegro will echo the investment opportunities experienced in neighbouring Croatia.

He commented: "In places like Portugal, Italy and Spain the prices have just raced away. We have huge expectations when it comes to Montenegro and Cape Verde.

"We pick up lots of trends, data and information from many sources and we have compared with Croatia, seen what has happened there and Montenegro is poised, we think, for the next 18 months.

"Morocco is another country we are hearing a lot about, and also Brazil."

Travel and tourism in Montenegro is expected to grow by 15.2 per cent in 2007 and by 10.7 per cent per annum between 2008 and 2017.

The subsequent rise in demand for holiday property along with real estate value in the country should translate into higher income for those involved in holiday lettings.

The Balkan state voted for independence from Serbia in May 2006. Despite being a member of the European single currency it is not yet a member of the EU.

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