Living in MontenegroIyna Bort Caruso
In recent years, some have begun calling the small nation of Montenegro the next Monte Carlo or Cote d’Azur.
Along Montenegro’s Adriatic coastline, the comparisons are easy to see:
Resort towns with marinas for super yachts, a lively café culture and an abundance of natural beauty. What you won’t see--at least not yet--are the crowds.
Montenegro, once part of Yugoslavia, is a republic of just over 600,000 people and smaller than the state of Connecticut. Its name means “black mountain.” Its rugged peaks average more than 6,600 feet high. Dense forest covers more than half the country. A rare European rainforest is found here, along with the Tara River Canyon, the longest and deepest canyon on the continent.
In the 20th century, Montenegro would come to be one of six republics that made up Yugoslavia. After the collapse of the Soviet Union, it became part of a federation with Serbia, later gaining independence in 2006. Today, while not a member of the euro zone, it uses the euro as its currency.
Most of the country’s population is concentrated in the south and southwest. About a quarter of Montenegrins live in the capital of Podgorica, a relatively new city that was rebuilt after World War II. A short distance west is the Old Royal Capital of Cetinje, the cultural heart of the country situated at the foot of Mount Lovcen.
The most expensive real estate is along the stunning Adriatic coast in towns like Budva and Sveti Stefan, and in Tivat on the Bay of Kotor. Many of the seafront towns have seen significant development in recent years in the form of luxury villas, estates and apartments. There are no restrictions on international buyers. Russians have been the most active buyers, followed by British investors.