Montenegro has been developing rapidly and attracting new residents from all around the world. Therefore the construction business is developing rapidly. Construction and building materials play a great role in Montenegro’s economy. There are local and foreign construction companies that build holiday homes and hotels which also helps the economy to grow in real estate market and tourism.
For being a holiday destination, between June and September constructions in Kotor, Tivat, Budva, Perast are banned.
So what are the reasons for the construction sector to get popular in Montenegro towns like Kotor, Tivat, Budva, Perast, Podgorica, Herceg Novi, Bar, Niksic?
1. Montenegro, especially after Kotor Port has become a port of call of the cruise ships there’s a huge growth in tourism.
2. The number of students studying at universities in Podgorica have increased.
3. The simplicity to get residence permit in Montenegro has caused an economical growth in real estate.
4. The investors from all around the world have started to invest in Montenegro for the country’s candidateship of European Union. It is expected to join the EU within a few years which will increase the value of the investments done before joining the EU.
In real estate sector, comparing with the other countries, the values of buying and selling houses as well as the rental income is increasing rapidly.