Montenegro: Record real estate price

The prices of new apartments in a fishing village near Budva, on the Montenegrin coast, have reached new records.

Izvor: BIRN

Monday, 14.01.2008.

11:11

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The prices of new apartments in a fishing village near Budva, on the Montenegrin coast, have reached new records. Balkan Insight reports that a few cases of record EUR 10,000 per square meter were reported in transactions conducted in a fishing village near the coastal town. Montenegro: Record real estate price Estate agents Imperia, based in Budva has offered for sale two apartments in Rafailovici, one with 150 sq meters of space at EUR 1,500,000, and another of 112 sq meters at EUR 896,000. The cheapest one-room apartments in Rafailovici, in the Bay of Becici, are now priced at EUR 4,100 per sq meter, which is twice as much as in the suburbs of Budva. According to the estate agents, Russians have shown the most interest in buying property in the area. They have already built three apartment blocs on the east side of Rafailovici. Montenegro was discovered as property paradise in the sun a few years ago. In recent years it has proved much more attractive than neighboring Croatia, because of lower prices and liberal laws on buying property.

Montenegro: Record real estate price

Estate agents Imperia, based in Budva has offered for sale two apartments in Rafailovići, one with 150 sq meters of space at EUR 1,500,000, and another of 112 sq meters at EUR 896,000.

The cheapest one-room apartments in Rafailovići, in the Bay of Bečići, are now priced at EUR 4,100 per sq meter, which is twice as much as in the suburbs of Budva.

According to the estate agents, Russians have shown the most interest in buying property in the area.

They have already built three apartment blocs on the east side of Rafailovići.

Montenegro was discovered as property paradise in the sun a few years ago.

In recent years it has proved much more attractive than neighboring Croatia, because of lower prices and liberal laws on buying property.

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