What’s Happening On The Real Estate Front Kotor Montenegro?

Most foreign interest in Montenegro is focused around Kotor Bay (Kotor apartments,Kotor houses) and the seaside resort of Budva, traditionally a favorite summer escape for Russians. In recent years, the number of foreign buyers from Europe is increasing, helped by the country’s accession to NATO as well as its attractively low property prices. Before the economic recession of 2008, prices around Kotor and Budva were in the region of 3,000 euros (US$3,375) per square meter. Today they start from 2,250 euros (US$2,530).

The course of Montenegro’s journey toward EU accession hasn’t been smooth. But with the progress made this past decade, hopes are that it’ll join the EU in 2025.
Whenever it does, expect prices around the hot spots of Kotor and Budva to creep up again.

Today, we’ll focus on Kotor Bay… taking in Kotor itself and its environs.

Sitting at an outdoor table in Kotor’s old town, you’ll feel like you’ve been transported back in time. Children play safely, cats rule the streets, and storefronts are subtle to preserve the medieval feel.

Although you won’t have commanding views of the bay, a property within the old city walls would be ideal for rental income. Airbnb is thriving in Kotor. Some attractive options currently on offer here include:

A recently renovated one-bedroom, second-floor apartment near the entrance to the old town. With kitchen, living room and dining area, and bathroom, it’s the only apartment in the building with its own balcony.

Apartment Kotor bay for sale boasts excellent rental potential as two of the bedrooms have en suite bathrooms. Covering 92 square meters, it has a spacious living room, kitchen with dining area, and one shared bathroom.

If you’re planning to use the property yourself, at least part-time, then be sure to check out opportunities outside Kotor proper… preferably at an elevation to take in the stunning views of the Boka Kotorska. The village of Prčanj is a 10-minute drive from the old town. Its hills offer great views over the bay and you can see Kotor lit up at night.