Montenegro: the new france?

Montenegro is becoming more and more attractive to property investors, one expert has claimed…

The prospect of European Union membership and increasing levels of foreign investment and are just two of the factors that make Montenegro an interesting property investment possibility.

James Gonzalez, of investment firm Obelisk International recently commented: “Montenegro is trying to position itself as a high-end, south of France-style destination, which reflects the type and income of the property buyers.

”The country's Government is making a huge effort to improve infrastructure in Montenegro as it seeks to present the state as a luxury-style destination. Indeed, property in some prestigious resorts now commands prices of more than 7,000 euros (£5,450) per square metre”.

Mr Gonzalez added: Although the nation's central bank expects that 2008 will see at least a temporary end to the growth in the property market, Government spending and the reduction of red tape means that Montenegro's economy is set to grow at seven per cent year-on-year for the foreseeable future”.