The property market and the perspectives
The property market in Montenegro is experiencing strong growth because of the rising demand from foreign buyers among other things. Especially Russians buy up properties and land areas in this beautiful country with only 621.000 inhabitants.
After some years with economical stagnation the development in Montenegro has gathered pace. The signs of achievement of a sustainable macroeconomic stability are growing as are the beginning of a gradually privatization process in both the limited productive sector as well as the more important service sector; including the tourism sector, communication sector and recently the bank sector.
Like in the bordering countries this development has drawn foreign investments to the country; especially Russians invest in Montenegro both in productive factories (including the biggest aluminium factories) and the significant tourist sector alongside the coast of the Adriatic Sea.
Compared to the bordering countries the informal economy in Montenegro is very extensive, especially in relation to purchase of tobacco without revenue labels with is still very common in the cities of Montenegro.
At the referendum on the 21st of May 2006 the Montenegrins voted in favour of the breakaway from the state union between Serbia and Montenegro. The 12th of June 2006 the EU accepted the result of the referendum and recognized Montenegro as an independent country.
The picturesque Montenegro
Montenegro borders to Croatia and the Adriatic Sea. The country consists mainly of mountains and has only one bigger plain north of the Sava River, which is a feeder to the Danube. It is on this plain most of the agriculture is concentrated. This region has also continental climate while the coast areas have Mediterranean climate. By the town Budva the sandy beach stretches 3 km along the coast after the marina and the harbour.
The interesting old part of Budva lies by the harbour. From Budva you have a good view to the beautiful island San Nikola. In the background lies the black mountains that have given the country its name. At a distance the mountains seem to be black but if you take a closer look you notice it is the dark green vegetation of softwoods that gives the mountains their characteristic colour. For more than 2500 years a town with its harbour has been standing here. The first people who came here was the Phoenicians, later on the Venetians came and today tourists from all over the world travel here.
- Magnificent rock formations
- Outstanding hunting and fishing possibilities
- Attractive golf courses
- Beautiful port cities with rural idyll
- Good and cheap wines from wine districts all over the country
- Healing mineral springs (600 all over the country)
- Life enjoying culture with a bunches of cafes, bars and discos
- Restaurants with fresh meals
- Healthy and gentle climate, daily temperatures: Jun 25˚C, Jul 29˚C and Aug 28 ˚C
- Unique possibilities for sailing and race
-A kind nation
- Well educated physicians and dentists
- Very well functioning state system
A considerable quantity of minerals is found in the mountains in the form of bauxite, coal, copper, lead and zinc. These minerals and the tourism alongside the coast of Montenegro are important sources to foreign currencies for the country.
The old part of Budva named Stari Bar (Old Bar) is mentioned in a letter from the 9th century. By the city approach you will find an olive tree which is between 2000 and 2500 years old. This is the oldest known olive tree in the world and it still bears fruit.
Montenegro is situated right opposite of the heel of Italy. The country has a total area of 13.812 sq. km. and is one of the small countries on the Balkan Peninsula being about the same size as Zealand. The nature is breathtaking and the atmosphere exceptionally cosy, the weather is nearly always perfect and the food is good and cheap.
Bigger cities in Montenegro
Podgorica (capital of Montenegro)
The capital has approx. 130.000 inhabitants. Until 1991 it has named Titograd. The name Montenegro is an old Italian translation and means the Black Mountain.
The old gothic city Anagastum was built in the 4th century as a Roman military fortress at the place where the most important roads at that time crossed each other. The city has approx. 58.000 inhabitants. Through the centuries the placed has been ruined and rebuilt, changed its appearance and its ruler. It was an active military fortress until the Turkish people arrived.
The city has a population of 16.000 people.
This city has also around 16.000 inhabitants. The city lies in Montenegro near the bottom of the Orjen Mountain (1895 m) and the entrance to one of the most beautiful bays in the whole world: The Buka Kotorska Bay. The city was established in 1382 by the Bosnian king Tvrdko the first Kotromanić who named the city Sveti Stefan (St. Stefan). It is one of oldest cities by the Adriatic Sea and has had several names: Novi, Castrum Novum, Castel Nuovo etc.
The Adriatic Sea
The Adriatic Sea is that part of the Mediterranean which lies between the Italian peninsula and the Balkan Peninsula.
Many languages are spoken in Montenegro: Serbian (the official language), Montenegrin and Hungarian. Knowledge of a foreign language isn’t widely spread yet many older people can speak Russian and German. The brightest ones of the young generation are able to speak English and Italian is beginning to spread out.
Montenegro has enforced the Euro as its official currency.
The most coveted dish on the menu card is mjesano meso, which you can translate into meat-mountain because that’s what it is. The giant dish is crammed to bursting point with grilled pork chops, meatballs of veal with cheese, grilled burgers, tiny pieces of meat on a spit and cevapcici (minced beef kneaded with onion and crumps of bread). Along with the dish comes French fries and salad made of onion, tomato, cucumber and cabbage. The dish is completed with a beer called Niksicko or just “nik” and costs around 1 Euro a bottle. One litre white “Banatski Rizling” made of grapes from Yrsacki in Serbian costs 6 Euro (approx. 45 DKK). A dinner with two courses costs in the most places around 10 Euros (76 DKK). Try also the local yoghurt that is almost a liquid substance and is being kept in the large mug. It tastes delicious and keeps the stomach in balance.
Montenegro is a secular state which means the country doesn’t have a religious point of view. The main part of the majority of the population in Montenegro; the Montenegrins and Serbians are orthodox Christians while the Bosnian and the Albanian minority of the population are Muslims. The population consists of 80 % Montenegrins/Serbians (out of this population 57 % declared they were Montenegrins and 43 % declared that they were Serbians at the latest census in 2003), 12 % Bosnians, 7 % Serbians and 1 % Croatians.