To live as a millionaire in Montenegro!
You can live as a millionaire in Montenegro, this small European country called "the next French Riviera", where wealthy foreign buyers take over luxury real estate and anchor their yachts in attractive moorings.
Montenegro, a Balkan country, is the home of 64 millionaires
Montenegro, a small country in southeastern Europe, is a beautiful and emerging luxury destination
Montenegro, one of the Balkan countries on the Adriatic, may be a luxury destination that is not likely or expected, but its picturesque coastlines, luxury hotels, and its popularity among yacht owners have caused people to notice more and more what is called the "next French Riviera".
The small European country, the size of Connecticut, is home to about 64 millionaires. A new program aims to attract more millionaires by allowing them to invest at least $ 291,000 in the country in order to obtain a passport from Montenegro.
Montenegro, which recently built two mega yacht berths that include luxury residences, hotels and shopping, has also been compared to Monaco.
The Balkan country was named one of the top destinations for billionaires to travel in 2019 in a recent report from Business Insider and Original Travel luxury travel agencies.
Rich people in Montenegro can get free round the clock yachting service, stay in luxury hotels like Regent Porto Montenegro and the Sveti Stefan Island Resort, and also reap the benefits of exclusive ownership of yacht clubs.
Tom Barber, one of the founders of the famous travel agency Original Travel, said of Montenegro with a population of 620,000: “Montenegro was chosen for a luxury upgrade in 2019 with the opening of the newly opened Chedi Lustica Bay and One & Only opened its first resort in Europe year Next with Portonovi in Boca Bay.
Here is what it is like to live in Montenegro like a millionaire ..
Indeed, it is not only the pristine terrain, the abundant sunlight, and the hospitable locals that have made Montenegro an exciting travel destination, but also a swarm of newly refurbished luxury hotels and restaurants that have caused some to call the "the next French Riviera".
Montenegro was also compared to Monaco, a comparison that I do not necessarily make. "In my opinion, Monaco has lost its soul - there is no longer a real atmosphere there," says Kay Dickman, general manager of Regent Porto Montenegro, a five-star hotel in Buca Bay, Montenegro. "But in Montenegro, we have natural beauty, food and wine of the sort, grown locally and naturally."
Montenegro was home to around 64 millionaires at the end of 2017, according to the Central Bank of Montenegro. And now it opens its doors to foreign millionaires as well. Montenegro is one of several countries where wealthy immigrants can. He paid hundreds of thousands of dollars to invest in the country And obtaining
a passport in return.
In October 2018, Montenegro started a program that allows up to 2,000 wealthy people to invest at least 250,000 euros, or $ 291,000, in a government development project, to obtain a passport from Montenegro.
Montenegro has joined countries like Greece, New Zealand, the United Kingdom, and Malta that have similar programs to purchase citizenship or residency.
Every applicant for a passport from Montenegro will have to pay an application fee of 100,000 euros, or about $ 112,000.
Montenegro is a paradise for yachting enthusiasts, Porto Montenegro is a newly built marina in Tivat, a popular yacht port
that has grown into a luxurious and
cosmopolitan destination
It is an attractive berth for yacht owners not only aesthetically but also because it has free round the clock yacht service and a tax-free and duty-free petrol station.
Porto Montenegro describes itself as a private yacht paradise that has waterfront residences, restaurants, luxury shopping centers and modern and upscale hotels. The waterfront shopping center also contains luxury brands like Dior, Rolex, Burberry and Balenciaga
And many others. It can also accommodate more than 450 large yachts.
In 2017, The Marina won the Marina of Distinction Award from the Yacht Harbor Association.
Regent Porto Montenegro is one of the most luxurious hotels in Porto Montenegro, and it has 87 rooms that can be rented through the hotel, while 62 other rooms have been offered for sale.
Regent Porto Montenegro is the first five-star hotel in Boca Bay, where Porto Montenegro Marina is located.
"Investors shut down ownership" at the Regent Hotel, according to Architectural Digest.
Porto Montenegro Marina also offers luxury apartments either in Village Residences or in Regent Residences, where residents can take advantage of all amenities as a service from the Regent Porto Montenegro Hotel.
A luxury three-bedroom "chalet" apartment in Regent Residences is priced for 2.5 million euros, or about $ 2.8 million.
Buyers of these luxury residences get membership in the Owners Club and Yacht Club, which provide access to the gym, fitness center, tennis club, 64-meter outdoor pool, private member lounge, nightclub and restaurant.
Porto Montenegro has an international school for its permanent residents.
In the footsteps of Porto Montenegro, there is Lustica Bay, a massive project that cost over a billion dollars, which made it the largest tourist investment in Montenegro’s history, and will eventually include seven luxury hotels, a marina, a new village, and a golf course
The project won the award for Best European Real Estate Development "Luxury Network International Awards" at the International Luxury Network Awards in Dubai.
"As is the case with its predecessor, Porto Montenegro, the Gulf of Lucchisa slowly raises the image of Montenegro on the map of global luxury tourism," Paul Bradbury wrote in Total Montenegro News.
The site will contain stores, restaurants, cafes, sports facilities and even schools and medical centers. Basically, Lustica Bay will be a completely new city.
Chedi Lustica Bay Hotel, located on the main marina promenade,
The first five-star hotel to open in Lustica Bay
The website describes the hotel as a "private pocket" inside Lustica Bay, which offers "a wide range of residential facilities and different lifestyles".
It will be a new haven in Montenegro that provides peace, healthy living and modern luxury to those looking for life as it should be.
Night rates start from about 270 dollars.
In addition to luxury hotels, Lustica Bay will include cottages, chalet villas and apartments.
The Lustica Bay project describes Montenegro’s tax system as “one of the most attractive systems in Europe”, with a “flat income tax and a 9% corporate income tax rate”.
About 22 miles from the coast of Lustica Bay, the Sveti Stefan Hotel is a luxury island hotel owned by the Aman Group that opened in 2011
Historian Hannah Roberts wrote to the Financial Times that Sveti Stefan, which was built as an island of fishermen in the sixteenth century, was "the first indication of the revival of Montenegro on an upscale square".
Renovated stone buildings include 50 rooms, cottages, and suites, and prices for one night start at around $ 990.
This 80-acre property features three swimming pools, Turkish baths, a Yoga suite and many fine restaurants.
Real estate prices in Montenegro remain low compared to Monaco and the French Riviera. For just under $ 400,000, you can get a luxury 3-bedroom apartment with a balcony overlooking the sea, or a three-bedroom, three-storey house in Budva for the same price.
But prices and demand are on the rise, coinciding with the foreign buyers' note of Montenegro's features. One of the most prestigious and luxurious places in the country is Sveti Stefan Island, where you can get a luxurious five-bedroom villa with five different size lounges, a garage for two cars, a fitness center, a sauna, a swimming pool, and a balcony, for about $ 3.3 million.
For $ 41.5 million, about the price of a Penthouse apartment in New York City, you can buy a full four-star hotel with 230 rooms and a private beach.
Foreign buyers became increasingly interested in Montenegro after joining NATO in 2017, and they began to acquire more direct flights from many and many destinations, adopting the euro as their main currency.
These international buyers have also been attracted by new construction houses "according to European standards," Jovan Borovich, director of a real estate and consulting agency in Montenegro, told the New York Times.
"The market offers more and more luxury properties, and prices are still attractive compared to the French coast, for example," Yovan said Or even coastal sites in Spain. "
The picturesque Bay of Kotor, with its dramatic slopes and sparkling blue waters, is a particularly attractive location for buyers homes and foreign investors
Local real estate agents told the New York Times that between 80% and 90% of sales in Montenegro go to foreign buyers.
The charming old town of Kotor, a UNESCO World Heritage Site, is popular with locals and tourists alike.
Kotor's Old Town is a maze of cobbled streets, churches, and squares full of luxurious cafes.
Kotor is one of the oldest cities on the Mediterranean.
Budva “the coastal city of Montenegro” has got attractive beaches, and Dubrovnik the nearby Croatian city has got more than it deserves, but in terms of romance and living conditions, this ancient city “Kotor” surpasses them all.
