The term hidden gem is often overused in everyday language, but in the context of international investments, finding a hidden gem opportunity for property ownership can have profound effects, not only on your investment, but also on your lifestyle; introducing Montenegro’s Citizenship by Investment Programme (CBI).
This boutique country in the south Adriatic often grabs headlines for its ensuing EU accession and picturesque coastlines, but in reality, offers so much more. Though small in terms of population, the nation boasts fantastic infrastructure and a booming real estate market, with its prized coast attracting both regional and foreign investment for many years.
Investment activity peaks in the Bay of Kotor, otherwise referred to as the golden triangle, where a whopping five billion Euros of investments have transformed this area of outstanding natural beauty into an even more extraordinary investment location. As a catalyst for development and growth, the Bay of Kotor has welcomed a number of luxury developments over the years, most famously, Porto Montenegro, where property prices per square metre skyrocketed by 62% between 2009-2019.
That said, appreciation rates on the whole have rapidly grown in the whole of in Montenegro, with prices growing by a whopping 21% between 2017-2019, while property resale prices have increased by 25%. Sound tempting?
The Golden Triangle
The Bay of Kotor, a UNESCO-protected heritage site, is a smart move for any investor. As one of the most highly sought-after tourism and residential locations in the Adriatic and wider Mediterranean region, Boka, as it is locally known, brings unlimited potential with no clear peak in sight.
At the heart of the bay lies Porto Montenegro, a high-luxury residential and retail village with a world-class marina and a 450-berth capacity, making it the flagship development of the Bay of Kotor. Owned by the Investment Corporation of Dubai, this world-class project has helped transform the Bay of Kotor into a high-end tourism destination, attracting brands from across the luxury hospitality and real estate industry. Today, Montenegro is home to resorts such as One&Only, The Chedi and Regent, coupled with state-of-the-art marinas housing some of the largest superyachts afloat.
The Bay of Kotor’s infrastructure is now second to none, while haute cuisine takes centre stage as residents and tourists enjoy a lifestyle of grandeur and gastronomy.
Porto Montenegro – A life less ordinary in the Bay of Kotor
Porto Montenegro became the catalyst for a brighter future for this small European nation, with an age-old vision to create a hub for the elite, their superyachts and facilitate high-end lifestyles. This exceptionally placed development quickly attracted the attention of international media outlets, marking Porto Montenegro as the Mediterranean’s most refined and endeavored waterfront address.
As more international on-lookers drew their attention to the development, many of the elite invested in getaway units, second homes and investment properties, attracted by Montenegro’s financial benefits and the developer’s credible track record.
A place to call home, Porto Montenegro offers a lifestyle of countless activities, high-end dining and even accommodates the youngest members of the family, with educational institutions such as the Knightsbridge Schools International offering the International Baccalaureate programme to children aged 3-18 years.
Boka Place – a thriving new neighbourhood
At the very entrance of Porto Montenegro, a stunning new mixed-use development becomes the village newcomer, overlooking the bay waters and featuring unique community, a buzzing wellness and fitness concept, and exquisite dining opportunities, as well as SIRO – immersive lifestyle experiences by Kerzner International.
The meticulously designed courtyard features retail and dining outlets, botanical gardens and water fountains, with backstreets leading one way to a state-of-the-art fitness centre and an impressive multiplex Cinema, and the other way, to the mainstream Porto Montenegro south village.
Its proximity to three international airports and access to Mediterranean cruising grounds makes Boka Place a highly-sought investment attraction, couple with first-class amenities and robust infrastructure, adding to property value and resale potential.
The complex, due for completion by 2023, offers investors a selection of private or hotel-managed residences, the latter of which form part of the qualifying residence portfolio for Montenegro’s Citizenship by Investment programme.
Boka Place & CBIP
Those investors meeting the 450,000 Euro investment threshold by purchasing units from SIROs portfolio of 144 available apartments are eligible to apply for Montenegro’s CBI and gain European citizenship for themselves and their family members. Investors can choose from a number of hotel-managed residences, including:
- Studios from €190,000
- One-bedroom apartments from €300,000
- Two-bedroom apartments from €470,000
- Three-bedroom apartments from €950,000
- Penthouses (POA)
The clock is ticking
With Montenegro’s CBI open until the end of 2021, those looking to apply must complete their applications in the next 6 months and thanks to Porto Montenegro’s collaboration with trusted, government-approved law firms to ensure a seamless process for clients, investors can rest assured that their applications will be fully supported from start to finish.
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