Member login:     Forgot Password?
   
Countries Register Advertising Forums About Us Contact Us
 Home
 Why invest in  property?
 Jet-to-Let Basics
 Types of Property
 Resort Property
 Capitals Property
 Key Statistics
 Statistics  Explanation
 Tools
 Full News
  Bulgaria  
  Croatia  
  Czech Rep  
  Egypt  
  Estonia  
  Hungary  
  Latvia  
  Lithuania  
  Montenegro  
  Morocco  
  Poland  
  Romania  
  Serbia  
  Slovakia  
  Slovenia  
  Turkey  
  International  
 
Amount:
From:
To:
Result:
 
   
 
 News

 Brits Shun Kotor Bay  03.01.2008 back
British and Irish investors have been showing less interest recently in properties in Montenegro’s scenic Bay of Kotor region on the Adriatic coast.

British and Irish investors have been showing less interest recently in properties in Montenegro’s scenic Bay of Kotor region on the Adriatic coast.

 

"We have felt the decline, mainly as a result of fairly high prices that are not quite competitive in the region," Aleksandar Vukicevic, the manager of the estate agents Montenegro Prospects, said in an interview with the weekly, Investor.

He said other reasons for the lack of enthusiasm among the British and Irish included the sub-prime mortgage lending crisis in the US, which made them more anxious about taking out further loans, and more importantly, poorer returns on Montenegrin properties.

"Properties were bought until recently partly because of the market boom, but since there are no longer price leaps of 30-40% [per annum], the rental income becomes a more prominent issue", Vukicevic said.

However, he said that income from renting out holiday homes was currently limited by the relatively short season, and added that lengthening the season beyond the summer months might increase interest in buying properties because they would be available to rent for longer.

That requires holding events and festivals to attract more holidaymakers in the months of April, May and November.

Vukicevic argued that the British were particularly inconvenienced by the lack of direct flights from the UK to Tivat airport on the Montenegrin coast.

By contrast, there are nine flights a week from Moscow in the summer months.

Source: BalkanInsight.com

Back to top





   
 
Advertising Affiliates Media Help Advanced Search FAQ's Site Map Privacy Legal
Propertastic!, Farnborough House, Alveston, Stratford-upon-Avon, Warwickshire, CV37 7QZ, UK
Tel: (+44)-121-288-5600 | Fax: (+44)-871-263-7046 | Email.
office@propertastic.com
© Propertastic! LLC, 2007. All rights reserved.