News
We aim to update this section regularly. Please feel free to contact info@montenegroprospects.com for press comments.
Visas not needed for Montenegrins
On 12 November the European Parliament voted in favour of visa-free travel for citizens of the former Yugoslav Republics of Montenegro, Serbia and Macedonia. This sends a positive signal to the region and marks an important step towards its European integration. The final decision will be taken by the Council of the European Union on 30 November. This will then permit Montenegrins visa-free travel throughout most of the EU (not including UK and Ireland who opted out of the Schengen agreement), and other European countries such as Norway and Switzerland.
Montenegro Prospects in Moscow
Montenegro Prospects exhibited at the Domexpo exhibition in Moscow on 8-11th October 2009, one of the largest exhibitions in the industry and now in its 10th year. We had a very successful exhibition meeting lots of new and existing clients. Russia continues to be a very important source of buyers for the Montenegro real estate market and we are pleased to have entered into long term commitments to providing an excellent service to our clients and associates based there.
Daria Sholmova joins the Montenegro Prospects team
We are very pleased to announce a new member of our team, Daria Sholmova. Originally from Russia, Daria has been living in Montenegro for a few months now and we are confident that she will be an excellent addition to our team in Kotor. Daria will be generally dealing with our Russian clients but also speaks English and is learning Montenegrin rapidly!
Britain has a less stable economy than Montenegro!
According to the Daily Telegraph (9th September 2009), Britain has a less stable economy than Montenegro. The World Economic Forum has released a report outlining the strengths and weaknesses of each economy. Looking at the report in more detail, Montenegro is at less risk from government instability or a coup than the UK. "Access to financing" is also more difficult in UK, as well as "tax regulations and tax rates". "Poor work ethic in national labour force" and "inefficient government bureaucracy" are about the same. Very interesting comparisons!
Tourist season improving in Montenegro, Vijesti 11. August 2009
The tourism minister Predrag Nenezic held yesterday the press conference where he announced an increase in the number of guests on Montenegrin coast, which will improve the overall results from the first half of the year. This is “the result of the efforts we put while preparing the season” – he said. Zabljak is literally “packed” with tourists. For the full article please click here
We're expanding!
Montenegro Prospects creates a new business - Overseas Prospects
We are proud to announce the creation of a brand new business. We are branching out to offer property in Calabria, Italy and Coastal Croatia, with more countries to follow. Over the years we have built up a strong reputation for offering a professional service in Montenegro and wanted to offer a similar service in other countries to our loyal clients. Chris Baker, who worked for us back in 2007 has come back to head up this exciting new subsidiary, and is extremely knowledgeable about the new areas we cover. Please visit www.overseasprospects.com for more details.
Article in The Sunday Times on 12th April 2009
Sunday Times journalist, Jack Grimston updated his view on the property market in Montenegro. For the full article please click here
Latest News - February 2009
To read the February 2009 edition of our newsletter please click here
Easyjet announce flights to Dubrovnik
Easyjet have announced that they will start flying from London, Liverpool, Berlin, Geneva, Milan and Paris to Dubrovnik. Prices start at 60 euros for a round trip.
Latest News - September 2008
To read the September 2008 edition of our newsletter please click here.
Montenegro Airlines increase flights from London to three times a week
From September 2008, Montenegro Airlines will start flying from Tivat to London on Wednesdays, Fridays and Sundays. The flights will continue through the winter.
Latest News - August 2008
To read the August 2008 edition of our newsletter please click here.
Montenegro Prospects - Kotor Office Now Open
We are delighted to announce the official opening of our new office in the heart of Kotor Old Town. Centrally located beside Evergreen Pub, just off Museum Square, we look forward to welcoming past, present and future clients there.
Madonna's September Concert Confirmed
According to an article in yesterday's (June 30th) Vijesti, Madonna will perform at Jaz beach on 25th September this year. The concert was annouced at a press conference held last weekend. 65,000 tickets will go on sale, priced from €35 to €200.
July Newsletter
Click here to read the July 2008 edition of our newsletter
Aman Resorts to invest €75 million in Renovations
The CEO of Aman Resorts Adrian Zecha recently held a press conference where he stated that Aman resorts will invest at least €75 million in the renovation of Sveti Stefan and Hotel Milocer, and in the building of the brand new hotel Kraljicina Plaza. This is more than double the investment they envisaged when they signed the lease contract.
He said Hotel Milocer would possibly open in June 2008, with Sveti Stefan planned to reopen in 2009, and the new hotel in 2010. Mr Zecha said "we are very eager to finish the renovation and this is a wonderful challenge for us. When we applied for the tender we did not have enough time to check in detail the state of the buildings, our first estimate was €15 million was needed, we committed to invest €20 million, but when we started the renovation we saw that we will need minimum €75 milion to make Sveti Stefan the most luxurious resort on the Adriatic. We will add a spa center and instead of 100 rooms Sveti Stefan will have 50 rooms, Hotel Milocer 6 suites, and the new Kraljicina Plaza 120 rooms. Over the last year work has focused on stabilizing the existing buildings, these works were very sensitive so as not to endanger the exterior".
Aman Resorts owns and manages 18 small luxury resorts worldwide. Established in 1988, it has resorts in many locations including Thailand, Cambodia, France, Morocco, Indonesia and French Polynesia.
Newsletter - June 2008
Click here to read our June Newsletter.
Montenegro Prospects Launches New Property Alerts Service
Montenegro Prospects is pleased to introduce our new Property Alert service.
If you are searching for your ideal property in Montenegro, and would like to be kept informed as soon as a property matching your requirements becomes available, please complete our registration form, which you can view here.
Newsletter - May 2008
The May 2008 edition of our Newsletter can be seen here.
Filip Vujanovic wins re-election
President Filip Vujanovic has been successful in his bid to win re-election as President of Montenegro. Vujanovic won with 53.2% of the vote.
Newsletter - April 2008
Please click here to read the April edition of our newsletter.
Montenegro to get First Four Seasons Hotel on Mediterranean
At a press conference last week, Peter Munk announced that a Four Seasons hotel will be built as part of the Porto Montenegro marina development. The hotel will have 300 bedrooms, and is expected to be open by 2010.
With 75 hotels in 31 countries, Four Seasons is one of world’s largest hotel groups, recognised worldwide for its high standards. Tivat will be the group’s first hotel on the Mediterranean Coast. Peter Munk also intends to build another elite hotel in Tivat at a later stage.
First Presidential Elections since Independence to be held
On Sunday April 6th, Montenegro will hold its first presidential elections since becoming gaining independence in 2006. Four candidates are in the running, with current president, Filip Vujanovic, of the Democratic Party of Socialists, widely expected to be voted in for another term.
Newsletter - March 2008
Click here to view the March edition of our newsletter.
Dutch Company wins Tivat Golf Course Tender
Limun Investments from Holland, has been successful in their bid for 75% of the shares in Monteprazno, the site of the planned golf course near Tivat. The company bid 48 million euros to purchase the shares, and have committed a further 205 million euros for investment in the course and surrounding infrastructure. The company had earlier announced that if their bid were successful, the new golf course would be open in time for summer 2009.
Montenegro Airlines annouces Tivat - London flights
Montenegro Airlines has annouced it will launch two flights a week from Tivat airport to London Stansted, commencing on May 4th 2008.
Although Ryanair have been rumoured to be considering flights to Tivat for some time, Montenegro Airlines is the first airline to offically launch scheduled flights between Montenegro and the UK. Flying on Wednesdays and Sundays, return fares will start from €220.
For further information on this, or alternative flight options to Montenegro, contact us on +44 1753 831182 or click here to send us an email.
Purchase Tax increases to 3%
As of 1st January 2008, all real estate purchases in Montenegro will be subject to a purchase tax of 3%. The tax increases from 2%.
Large Commercial Centre being constructed in Budva
Construction of a large commercial centre has started in Budva, with completion expected for early 2009. Spreading across an area of 38,500m2 the centre will include offices, banks, shops, a library and cinema.
Montenegro signs Barcelona Convention
Montenegro has recently signed the Barcelona Convention and joined the Mediterranean Action Plan. The Convention is the basis for international co-operation in the protection of the marine environment and coastal regions of the Mediterranean. Montenegro will be required to to establish protected marine areas and to adopt regulations to safeguard against pollution. Predrad Nenezic, Montenegro's Minister of Tourism and Environment said "Signing the Barcelona Convention gives Montenegro an important chance to become an example of how to develop in an environmentally sustainable way".
First English Language newspaper launched in Montenegro
A new English language newspaper has been launched in Montenegro. Aimed at Montenegro's growing expat community, the "Montenegro Times" is published weekly and contains articles on local and international news.