19 Dec 2019, 15:12 PM

December 19, 2019 - Continuing our look at the real estate opportunities in Montenegro through the RE/MAX catalogue, this week a whole apartment block near Bar. 

Real estate prices in Montenegro can sometimes seem expensive, with prime location villas selling for millions. But for every prime luxury villa, there are also plenty of much more affordably-priced holiday homes all over the coast and interior.

And if you look a little closer, there are some real bargains to be had - take a look at this one, the latest Property of the Week from RE/MAX Montenegro, in the village of Dobra Voda near Bar. While you can easily spend half a million euro on a property in Montenegro, here is a chance to pick up six apartments in one complete building for a little less than that. According to the official RE/MAX property description:

The building consists of ground floor, two floors and a roof terrace. It contains 6 one-bedroom apartments, two on each floor. Each apartment has a terrace overlooking the sea, hallway, living room with kitchen and bathroom. Three apartments have a surface area of 46m2 and three apartments each have 43m2. The apartments are equipped with a kitchen and all kitchen appliances> cookware, fridge, sink, hanging and floor kitchen units. Bathrooms are equipped with shower, sink, washing machine Roof terrace is 93m2, Each apartment has one parking space. The building consists of ground floor, two floors and a roof terrace. It contains 6 one-bedroom apartments, two on each floor. Each apartment has a terrace overlooking the sea, hallway, living room with kitchen and bathroom. Three apartments have a surface area of 46m2 and three apartments each have 43m2. The apartments are equipped with a kitchen and all kitchen appliances> cookware, fridge, sink, hanging and floor kitchen units. Bathrooms are equipped with shower, sink, washing machine Roof terrace is 93m2, Each apartment has one parking space.

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*** NEW, REDUCED PRICE: Price of the building has recently been reduced from €550,000 to €480,000. Don't miss this unique opportunity. This may be your best deal in the market.

Community Description

Dobra voda is a small coastal village, 10 km from Bar towards Ulcinj. Podgorica Airport is 54km away, Tivat Airport is 71km away. What makes this place extraordinary is the close proximity to the small clean sea beach, the quiet neighborhood, and the proximity to the regional road itself. Apartment on the seafront, 15m away from the sea surface, which gives the effect of an air spa. The seawater and climate are extremely clean. 700m away is a large city beach with all the urban tourist facilities Perfect location for rent. Nearby is a hotel that is very popular and always bookable during the season. Also, a new hotel was built in the immediate vicinity, which should start operating in 2020, which just shows that the building is in a great location, which can bring you a secure future income.

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For more information and to organise a viewing, visit the official listing

19 Dec 2019, 14:34 PM

December 19, 2019 - The real estate market in Montenegro is booming. Buyers from all over the world are coming to buy houses and apartments on the beautiful Montenegrin coast (and increasingly inland as well), as the country's reputation as the new global luxury tourism star continues to grow, flight connections continue to improve, and new tourist facilities continue to appear.

The conditions for investing in Montenegro appear to be favourable, with additional paths to investment offering something a little different. This includes the introduction of the recent Citizen by Investments programme, which was recently introduced to Montenegro.

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Starting at just 250,000 euro in northern Montenegro, the Citizen by Investments programme offers investors a Montenegrin passport, with all the advantages of residence and onward travel that this offers, in return for concrete investment in the development of the country. TMN caught up with one of the bigger players in the current real estate market, Kristina Ivanovic, Sales Manager of RE/MAX Montenegro office in Podgorica, to learn more about the general rise in foreign investment interest, as well as some of the specific attractions of the citizen by investments programme. 

Montenegro continues to attract attention of international travelers, but also companies. What is it that makes the country so attractive to foreign businesses?

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Montenegro has been working hard on improving its quality of life, business climate, stability, and safety. It became a member of NATO in 2017 and is on its way to joining the European Union. Many procedures related to doing business have been simplified, with international investors enjoying the same rights as the domestic ones. Costs of running a business are lower than in many European countries: flat tax system (9% tax on corporate and personal income), 3% property transfer tax, 21% VAT (7% for 5* hotels), office space can be rented at €10 to €15/sqm, depending on company’s needs. 

Accommodation is also more affordable when compared to European business centers. For example, one can rent a beautiful, fully furnished one bedroom apartment in the business district of Podgorica for €350-€400 per month. And apart from the business side, Montenegro boasts a rich historical and cultural heritage, beautiful nature, mild climate and 280 sunny days per year, which makes it very attractive as holiday and second-home destination.

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Montenegro is home to some of the largest investment projects in Europe right now, numerous world-known hotel brands (such as Hilton, Aman, Regent, Sheraton, Chedi, Melia, Falkensteiner, Iberostar) while many others are just starting their projects, such as Ritz Carlton and One&Only. Large international corporations, such as Deloitte, Microsoft, Coca Cola, KPMG, Ernst&Young, together with well known international banks such as OTP, ERSTE, NLB, etc, are already operating in the country.

The Citizenship by Investment program was launched earlier this year. In your opinion, how will this affect the real estate market and the Montenegrin economy in general?

The Montenegrin economy was noted to be one of the fastest-growing economies in Europe, with economic growth rates in 2017 and 2018 being 4.7% and 4.9% respectively. Thanks to an open approach to economy within a business-friendly environment, Montenegro has attracted a lot of Foreign Direct Investments (FDI) over the years. The total net inflow of FDIs in the first nine months of 2019 was €227.3 million, which is 48% more than during the same period last year. Now with the launch of Citizenship by Investment program, interest in the country is expected to increase even more. The new investments will ensure continuous sustainable growth of the economy.

The list of the tourism projects that are included in the Citizenship by Investment program includes projects in the South and in the Central and Northern regions. Some of them are planned as a time sharing investment, while others offer a simple purchase of the unit within a four or five star hotel resort. Apart from tourism projects, applicants can obtain Citizenship by investing in agriculture or wood processing sectors.

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By becoming a Montenegrin citizen, one has gained a visa-free entry to 122 countries, including Europe’s Schengen Area, Russia, and Turkey. 

It is strongly advised to consult a real estate agent who can provide guidance and advisory based on applicant’s needs and help them choose the best investment option.

RE/MAX Montenegro has offices in Podgorica, Budva, Tivat and Kotor and has a team of 25 real estate consultants and sales agents, all specialized in different regions of the country and different property types. With over 3.000 active listings in our database, from development land to residential and commercial properties to investment projects, we can advise on choosing the best investment option with a realistic return on investment.

For more expert advice on investing in Montenegro, as well as a comprehensive overview of those listings, visit the RE/MAX website.


19 Dec 2019, 13:56 PM

The traditional big New Year's concert of the Music and Educational Society (GPD) "Tivat" will be held on Saturday, December 21 at 7:30 pm in the large hall of the Tivat Cultural Center.

Under the baton of Professor Nevila Klakor, the Tivat City Music Ensemble will perform a specially prepared rich program of marches, polkas, waltzes and arrangements of popular and movie songs. Special guest of the concert will be klapa “Jadran”.

The "New Year's Concert" is the last in a series of activities that GPD "Tivat" celebrated its grand jubilee in recent months - the 110th anniversary of its founding and continuous operation.

The society marked this anniversary with numerous performances and a particularly successful all-day musical event called "Veliki šušur", which was held for the second time on June 15 at the waterfront "Pine", bringing together 12 orchestras with over 350 musicians from Montenegro, Bosnia and Herzegovina, Albania and Croatia.

Text by S.L. , on December 18th, 2019, read more at Boka News

19 Dec 2019, 11:30 AM
December 19, 2019 - As part of a study visit to Montenegrin fishers, their Italian colleagues yesterday visited the Institute of Marine Biology of the University of Montenegro in Kotor to get acquainted with the activities of the Institute in the field of fisheries, as well as the activities implemented within the ADRINET project by this scientific institution.
Hosted by Italian fishermen, who have been in Montenegro since Monday, December 16, until today, the Municipality of Herceg Novi, one of six project partners whose implementation under the IPA Interreg Cooperation Program of Italy, Albania, and Montenegro, started in March 2018 and will last until March 2020.
At the Institute of Marine Biology, a scientific team led by ichthyologist Dr. Alexander Joksimovic greeted guests from Italy and presented to them the activities of the Institute and the projects implemented for sustainable fisheries management.
"We are always glad to have our dear friends from the Adriatic countries. This time we hosted colleagues from Italy, I am particularly pleased that they are fishermen. It seems to me that they have the best understanding of the issue of fishing and the pursuit of that activity in the Adriatic. We explained the situation in Montenegro, the connection between our fishermen and the administration, as well as our Institute. It seems to me that we are a good example in this regard because very often we meet with fishers, share experiences, and make our fisheries sector better organized in the future. Of course, there are our obligations to the General Fisheries Commission of the Mediterranean and the European Union in the negotiation process. Therefore, large and rich activities are ahead of us to make Montenegro a relevant companion in this story. In all these activities, our fishermen are the focus - to create better conditions for them, so that future young fishermen can be included in this story with the message that in Montenegro, as a tourist country, there is a future in connecting tourism and fishing," emphasized Dr. Joksimović. 
In addition to fishers from the Bussola Association of Lecce-Vincenzo Bruno, Salvatore Maggli, and Cristiano Rizzato and Grazio de Paolis of the Cooperazione Pescatori of Castro, representatives of the municipality of Castro, the partner city of the ADRINET project - Francesco Pacella and Claudio Longo, also visited Montenegro. The Italians were interested in how the Montenegrin fishermen were organized. They were shocked to hear that there are only 200 professional fishermen in Montenegro and that they operate through as many as four associations. Dr. Joksimovic explained that the position of Montenegro is particular, both due to the small number of employees in the industry, and because our coast is only 293 kilometers long, and that at a short distance from the shore the Adriatic is deepening. All of the mentioned places heavy demands on fishers and when it comes to the fishing fleet and fishing gear. So, the Fisheries Directorate is committed to protecting the interests of Montenegrin fishers in the context of the Adriatic and the Mediterranean.  
Vincenzo Bruno comes from a family that has been engaged in fisheries for three generations as a core business. Since 2000, as a fisherman, Vincenzo has also been involved in tourism - taking interested guests to fish and afterward ensuring that they enjoy lunch on the boat. He is very pleased with the placement of this offer and the income it generates. It suggests that linking fishers with the tourism industry could also be of mutual benefit in Montenegrin times.
What surprised the guests from Italy was the low consumption of marine fish in Montenegro. In this regard, they have suggested promotional and educational campaigns to make the population aware of the importance of fish and seafood intake, to nourish the nutritionally much richer meat foods that are still prevalent in our diet. The Montenegrin hosts explained to them that one of the main reasons was the low paying power of the population and the high price of fish, which was again the result of insufficient fishing and unfair competition.
Fishers and experts point out that connecting and exchanging experiences at the level of the Adriatic countries is crucial both for the development of fisheries as an industry and for the protection of marine biodiversity, especially in terms of overfishing. Because, as pointed out by a guest from Italy - Vincenzo Bruno, we must also think about what our grandchildren will hunt.
The purpose of the ADRINET project - Adriatic Network for the Marine Ecosystem - is to approach the problem of coastal zone management in the most comprehensive way possible, with an emphasis on sharing good fishing practice. The ADRINET project's activities are focused on local communities and fishers to integrate them into marine biodiversity protection. Therefore the exchange of knowledge and experience among fishermen is crucial for defining standard methods of coastal fisheries management in the three Adriatic countries.
One of the innovations within the ADRINET project is the acquisition of GPS equipment for marking fishing gears to reduce ghost fishing, ie, unnecessary loss of the fish stock. Also, with the support of local communities and scientific institutions from partner countries, fishers are provided to be trained in the use of innovative, environmentally friendly methods in fisheries, while respecting general policies and conservation measures that should be defined through this project.
After a visit to Montenegro, the Italians today traveled to Albania, where they will be guests of project partners and fishermen in Vlora until Saturday, December 21.
The Montenegrin delegation, led by experts from the Institute of Marine Biology, is scheduled to visit the Italian Castro in the Puglia region in February next year.
18 Dec 2019, 21:40 PM

The Municipality of Herceg Novi and the Ministry of the Interior have signed an agreement to use financing from the Protection and Rescue Fund, approved as part of a competition among municipal services, public institutions, businesses and non-governmental organisations. The agreement was signed by Interior Minister Mevludin Nuhodžić and Deputy Mayor of the Municipality Danijela Đurović, with Aleksandar Škobalj of the Herceg Novi Protection and Rescue Service also in attendance.

Minister Nuhodžić emphasised that the allocation of financing from the Fund confirms the determination of the Ministry of the Interior to work in synergy with all stakeholders in the system to improve capacities and working procedures in aspects of large-scale disasters and other incidents. Implementation of the projects for which financing has been committed will mean an improved rescue and protection system, as well as better delivery of preventive measures and operational activities, stated the Minister.

“I believe that through your work you will contribute to the strengthening of the protection and rescue system, and will be an additional incentive for other entities to work on building this important and demanding system actively,” said Minister Nuhodžić, addressing this year’s winners.

For Herceg Novi, the project that has been approved will be of huge significance as it will contribute to better protection for those in danger in hard to reach areas, stated Deputy Mayor Danijela Đurović. She added that the new equipment to be bought would be of great help to the Municipal Protection and Rescue Service, and that the local authority was grateful to have been recognised by the Ministry and the Fund Commission.

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Danijela Đurović


Đurović took advantage of the meeting with Minister Nuhodžić to send a message on the need to improve security in and around Herceg Novi, bearing in mind that the municipality borders the European Union, and as such is of particular interest to those aiming to cross the border illegally. Referring to the recent killing of a border police officer on duty, she stressed the importance of increasing security at the national border, and expressed the hope that the competent authorities would prosecute those responsible as soon as possible. Đurović requested the Ministry to initiate a procedure to amend the criminal code so that anyone charged of the murder of a police officer be handed the strictest possible sentence.

The Commission for the Allocation of Financing from the Protection and Rescue Fund, within a public competition, has provided funding totalling over 99,090 euros for projects to procure protection and rescue equipment and improve resources, and for financing projects encouraging educational, research and development studies, for programmes, projects and other activities.

This year’s beneficiaries are: NGO Association of Youth with Disabilities Montenegro, Bedrock Podgorica, Berana Municipality, Žabljak Municipality, Bijelo Polje Municipality, Nikšić Municipality, Herceg Novi Municipality, Non-governmental Association Union of Scouts Montenegro - Podgorica, Institute for Public Health Montenegro, Cetinje Students Association, NGO Gorica and Nature Lovers Association.

18 Dec 2019, 10:43 AM

For the seventh consecutive time, the project “From Christmas to Christmas” begins with the traditional New Year concert of the Kotor City Music orchestra.

"Under the baton of Dario Krivokapic, with the guests at the concert, the klapa "Incanto" and choir CC "Nikola Djurkovic" introduces all the citizens and guests of the town of Kotor to another magical New Year's.

The traditional concert will be held on Monday, December 23, 7.30 pm at the Cultural Center “Nikola Djurkovic”, according to NVU Karampana.

Kotor City Music this year marked a 177-year anniversary with a series of concerts.

Text by Boka News, on December 18th, 2019, read more at Boka News

18 Dec 2019, 07:35 AM

December 18, 2019 - Kotor mayor, Mr Željko Aprcović, director of the Direction for Organization and Construction of Kotor, Mr Zoran Mrdak, and executive director of the company Bigova Bay, Ms Branka Lazarević, met in Kotor to sign the agreement on the implementation of an investment – the construction of a high-end tourism complex in Bigova.


The agreement announces the beginning of the implementation of an investment whose initiation started 7 years ago.

“The local self-government is proud to have a renowned investor in this business who will invest large sums of money – over 300 million euro – and today is a big day for the Municipality of Kotor,” said the Mayor of Kotor.

The aim of this project is to obtain the new content that will raise the sites in Donji Grbalj to a higher level.

Mr Aprcović said: ”This investment will represent the initial impetus for future investors in this extremely attractive site.”


Kotor Municipal Assembly, at its session held on 18 Nov. 2019, passed the decision on resolving relations between the Municipality of Kotor and Bigova Bay and the agreement signed today represents an integral part of it.

Text by CDM, read more here.

To read more about business in Montenegro, follow TMN's dedicated page.

17 Dec 2019, 12:55 PM
December 17, 2019 - One of the most important artistic events in Montenegro - the Herceg Novi Fine Arts Scene, is experiencing its 21st edition this year, which will open tonight, Tuesday, December 17th at 7 pm at the Josip Bepo Benković Gallery. The Herceg Novi art scene is traditionally a cross-section of the work of active artists who live and create or are otherwise related to Herceg Novi. Organizers say the response of the artists is exceptionally high this year.
It is well known that Herceg Novi was called the city of painters and writers in the 1970s, and these epithets are justified today. From 1948 to 1966, it housed one of the most famous and successful art schools in the former Yugoslavia. Its founder, Petar Lubarda, was an internationally renowned painter who spent part of his life in Herceg Novi. Professors, and later students of that art school, became the most famous and successful painting and sculpture names of the former Yugoslavia and present-day Montenegro. Therefore, it is not surprising that Herceg Novi, which was the inspiration for the most significant creators, has a half-century tradition of hosting the "Winter Art Salon," but also numerous exhibitions, including the Herceg Novi Fine Arts scene. The shows are traditionally held during the winter and give a new dimension to the tourist offer of the city.
The "Herceg Novi Fine Arts Scene" since 1996 represents authors who create or are related to Herceg Novi by their painting opus. Even today, the emphasis is on the entirely personal creative relationship of artists who live and work in Herceg Novi and the Mediterranean environment on which their artistic poetics rely. Of particular importance to the Herceg Novi Fine Arts Scene are young artists who bring new visual experiences and new creative messages in a time that is not particularly fond of art.
In the 21st Herceg Novi Fine Art Scene, 54 authors - painters, sculptors, and graphic artists - will display their works. "According to the established practice, the exhibition will feature works by renowned artists from Herceg Novi as well as amateurs, all connected by a common love for the visual arts," said a statement by the City Gallery "Josip Bepo Benković."
The exhibition will be opened by the curator of the gallery, art historian Jasmina Zitnik, and the show will be on display until the Herceg Novi Winter Salon, which will be organized in early February 2020.
17 Dec 2019, 12:25 PM

Works began on the construction of a roundabout at the former Tivat Municipality building, which was inaugurated by Prime Minister Dusko Markovic.

Due to the commencement of works, parts of Luka Tomanovic street and the Second Dalmatinska Brigade were closed to traffic, and the usual mode of movement of the vehicles through the center of Tivat was changed.

However, the citizens of Tivat have not been officially informed about this by the Municipality, which is the investor of the EUR 300,000 project, which allows for an entrance to the city center.

Text by S.Lukovic, on December 16th, 2019, read more at Boka News

17 Dec 2019, 08:39 AM

December 17, 2019 - The development of the Airports of Montenegro has no alternative. It’s a matter of development, not political differences, said Prime Minister, Mr Duško Marković, who is on his official visit to Tivat.


“Airports of Montenegro management, led by the Board of Directors, has done a lot for the past three years. I expect a lot from the concession, I want to see new infrastructure with a terminal in Tivat. Top-quality for the citizens and the state”, pointed out Mr Marković.

He added that Tivat could serve as an example to other municipalities.

“After successful investment schemes in culture, education and sport, transport is our top priority now. Congratulations on your commitment to improving social and sports infrastructure. Tivat sets en example to other municipalities”, said Mr Marković.


Prime Minister points out that the Government’s committed to building a modern healthcare facility in the Bay.

“We need to do that since Montenegro is considered to be an elite tourist destination”, said mr Marković.

Mr Marković and Mr Siniša Kusovac, president of the Municipality of Tivat, marked the commencement of works on the construction of a roundabout in Tivat.

Text by CDM, read more here

To read more about politics in Montenegro, follow TMN's dedicated page.

16 Dec 2019, 11:00 AM

Teodo's basketball players defeated Zeta 69-62 and practically ensured their stay in the Erste League.

A well-deserved home win achieved after a great fight.

With a great defensive play in the first quarter, the team from Tivat completely stopped the guests’ attacks. Teodo won this quarter 15-5.

In the second quarter, the visitors strengthened their defense and reached minus 3 - 19-16. However, the finish of the first half belonged to the Tivat team and went on a break with the score 28-21.

In the third quarter, the match was even, so the result was 47 -39 at the finish of the last quarter. Persistent guests did not surrender. Six minutes before the end it was 54-51 for the team from Tivat. Vucinovic scored two three-pointers and Mijovic added another, for the ovation in the stands.

Vjekoslav Vucinovic played extraordinarily. He spent all 40 minutes on the court and scored 34 points. His contribution is even greater because due to injury and illness, Milic and Radonjic did not attend the training all week.

An important victory for Teodo which continues its good first-league season.

Text by Dragan Popadic, on December 15th, 2019, read more at Radio Tivat

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