Foreign Media on Montenegro: New French Riviera and Paradise for Rich

By , 11 Apr 2019, 13:14 PM Lifestyle
Montenegro: Paradise for the Rich Montenegro: Paradise for the Rich CdM

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"Montenegro is a small Balkan country in the Adriatic Sea, which, although it does not seem like a luxury destination, thanks to the picturesque coast, luxurious hotels and great popularity among yachtsmen, is called the new French Riviera," is a description of our country that is present in the foreign media.

The attention of Business Insider, Montenegro attracted by its new program, which aims to bring as many rich people as possible to its long coastline. Apart from being the home already for 64 millionaires, Montenegro has provided an opportunity for 2,000 more to invest 250 million euros in the development program of the country and thus acquire Montenegrin citizenship.

In fact, Montenegro is just one of the countries in which wealthy foreigners can invest several hundred thousand euros in state development and, in return, receive a Montenegrin passport. Such a program is offered by Moldova, Greece, New Zealand, the United Kingdom and Malta, and each candidate for a Montenegrin passport will have to pay a citizenship application, which is 100,000 euros.

Experts say Montenegro has become attractive to the rich people because of the luxury they can enjoy at lower prices than on similar destinations. The media say that due to the marina in Tivat Porto Montenegro, Montenegro has become a paradise for yachts, and therefore it is not surprising that it was on the list of the best destinations for billionaires in 2019, published by the travel agency “Original Travel”.

Porto Montenegro in Tivat, which is announced as the future most modern destination of the Mediterranean for the rich clientele, opened the doors of two new residential buildings.

"Thanks to the newly opened Chedi Lustica Bay and the first European One & Only resort named Portonovi, Montenegro will experience a luxurious Renaissance this year and next," says Tom Barber, co-founder of “Original Travel”.

Also, the magazine “Architectural Digest” says that Montenegro is not only popular "because of the intact space, the amount of sunlight and gentle hosts, but also because of the new and renovated luxury hotels and restaurants."

Foreign media also write that real estate prices in Montenegro are still low compared to the French Riviera and Monaco, with which Montenegro is often compared to. For a little less than $ 300,000, on the market, you can find a three-bedroom luxury apartment with a terrace that overlooks the sea or a four-room house on three floors in Budva.

In Boka Kotorska bay you can buy four-room villa with a three-car garage and a terrace with direct access to the sea for "only" $ 1.4 million, according to the foreign media.

Also, after Montenegro joined NATO in 2017 and introduced the euro as a currency, its popularity grew, and the demand for homes in the country also increased, and as many as 80-90% of sold properties were bought by foreigners.

Text by, on April 10th 2019, read more at CdM

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