Why Montenegro
Quick Facts
Surface area: 13,812km2
Population: 670,000
Coastline: 294km
Beaches: 117 in total (73km)
Highest point: 2.522 m (Durmitor, Bobotov kuk)
Climate: Mediterranean on coast, Continental inland
Sunshine: Average 240 days per year
Language: Montenegrin (very similar to Serbian and Croatian), English and Russian widely spoken
Currency: Euro
Main Cities: Podgorica (capital), Bar, Cetinje, Niksic, Herceg Novi, Budva, Kotor
Political system:Republic, (Independent State from May 2005). The Republic of Montenegro was admitted as a Member of the United Nations by General Assembly resolution 60/264 on 28 June 2006.
Electricity: 220V
International country code: +382
Time Zone: +1 GMT (+2 in summer)
Flying time: 2-3 hours from most captial cities in Europe
Airports: Podgorica, Tivat, and Cilipi (Dubrovnik) in Croatia, 14 km from border
Ports: Bar, Budva, Kotor and Herceg Novi
List of public holidays in Montenegro:
- 1 Jan New Year’s Day
- 7-8 Jan Orthodox Christmas Day
- 17 Apr Orthodox Good Friday
- 20 Apr Orthodox Easter Monday
- 27 Apr Statehood Day
- 1-2 May Labour Days
- 21 May Independence Day
- 9 May Victory Day
- 13 Jul Statehood Day
- 29-30 Nov Republic Day
Location
Montenegro is a small, but very mountainous country on the Adriatic coast, between Croatia and Albania and opposite Puglia, the heel of Italy. Montenegro is very accessible being less than 3 hours flight from most of Europe and Russia. There are two main airports; Tivat and Podgorica, but many travellers also use Dubrovnik airport in Croatia, which is just 14km from the Montenegro border. For details of flights in your area, please contact us.
Natural Beauty
You may think we’re biased but we believe that Montenegro is one of the most beautiful countries in the world. However, we are not the only ones. Back in 19th century, Lord Byron wrote “At the birth of our planet, the most beautiful encounter between the land and the sea must have happened at the coast of Montenegro. When the pearls of nature were sown, handfuls of them were cast on this soil.”Montenegro still retains its natural charm and beauty. Architecture dating back to the 12th Century is still prevalent among the many UNESCO heritage towns and villages. Montenegro’s natural beauty is dramatic; mountains dropping down to mirrored water in the UNESCO heritage Kotor bay and the crystal clear waters of the Adriatic lapping the sandy beaches of the coast. Although the gulf of Kotor is commonly referred to as a fjord, it was not formed by glacial movement and is in fact a ria (a drowned river canyon), but is by common consent, spectacular. Drive into the mountains to find undrowned river canyons (the Tara canyon being the second deepest in the world), glacial lakes, untouched nature and a fledgling ski and eco-tourism industry. On the coast, the climate is Mediterranean rising to 40 degrees in August, but cooler inland where the climate is Continental.
Economy
Montenegro has started EU accession discussions and is expected to join within the next 5 years. Montenegro has a stable economy, having adopted the Euro as its currency in 2001. The global recession has affected Montenegro, but is well placed to bounce back. The country is forecast to come out of recession in mid-2010. There is no capital gains tax in Montenegro.
Tourism
Montenegro was largely ignored as a tourist destination after the Balkans conflict but is starting to be rediscovered. The World Travel and Tourism Council has rated Montenegro to be one of the top two fastest growing tourism economies over the next 10 years. There is a shortage of western-standard hotel and residential accommodation. The people are friendly and welcoming (although it has to be said, very tall!) The locals are very appreciative of foreigners investing in their country. On sampling the local cuisine, you will find it very fresh, natural and typically Mediterranean. English is widely spoken.
Infrastructure
Infrastructure is rapidly improving with many projects ongoing being funded by the state, the EU, Russia and the US. New roads, electricity, water and waste networks have been greatly improved in the last couple of years. Currently it is frustrating driving in Montenegro during the winter as many roads are closed, but this is evidence of the ever improving infrastructure.
Property Market
The property market started to attract foreign investors in 2005 and some areas doubled in value by 2007. The recession has dropped prices back to 2006 levels and so offers great value for better quality property with improved infrastructure and rental yields. Unlike other countries, investors have come from many different countries and no one country seems to be overly represented. For up to date information about the property market, please contact us for a general or regional report.