Overlooking the same stretch of water as Southeastern Italy, Montenegro’s Kotor Bay boasts 57 miles (107 kms) of sparkling coastline that features towering mountains and stunning fjords.
Northern California is the only other landscape that compares…
The Bay is dotted by a charming mix of medieval towns and luxe modern developments, complete with super-yacht marinas. The ultra-wealthy treat this yachting paradise like their own private riviera.
We identify Kotor Bay as the area with the best investment potential in Montenegro right now…
But with its affordable cost of living, gorgeous scenery, easy residency policies, budding expat community, and endless recreation opportunities, it also has major lifestyle appeal.
Despite having so much to offer, only those in the know have heard of this tiny Adriatic country. With 5,300 square miles (13,800 square kms), Montenegro is about the size of Connecticut. It’s home to about 620,000 people, and it only officially became a country in 2006 when it got its independence from Serbia.
But big things are on Montenegro’s horizon…
It’s widely expected to join the European Union in the next few years. (Some say it will happen in 2025; some say 2030.)
If you establish residency or citizenship before then, Montenegro could become the fastest backdoor to an EU passport.
Plus, residency is easy. It only requires a property purchase of any value… and property can be had here for as little as 50,000 euros.
What else makes Montenegro so special?
Kotor Bay is in southwestern Montenegro. It’s one of the most indented areas of the Adriatic Sea, and it’s full of nooks and crannies that contain hidden villages and unique sights.
Jaw-dropping vistas are available from almost every vantage point because of the mountainous geography, and access to the sea is abundant.
The Adriatic is the same body of water that laps the shores of southeastern Italy. It’s part of the Mediterranean. The waters are clear and warm, perfect for swimming, boating, any water-based recreation… or just providing a beautiful backdrop for daily life.
The boating lifestyle is a major draw, with luxury marinas dispersed about the Bay. Even the Saudi royal family relocated its golden fleet of mega-yachts from Monaco here.
The Bay also offers diverse lifestyle opportunities. One option is the Old World historical appeal found in Kotor Old Town. This UNESCO World Heritage Site is widely regarded as the best-preserved medieval town in the Mediterranean. It’s a compact, triangular area that you access via three gateways through thick stone walls. It’s dense with ancient architecture, plazas, and churches. Behind it, crumbling city walls zigzag up the steep mountain, and in front of it is the sea.
Another option is the all-new, high-end, flashy private developments that around found scattered around the Bay.
One of the best known is Porto Montenegro, developed by Canadian gold billionaire Peter Munk into the largest marina in Southern Europe.
Luxury penthouses now sell for millions of dollars… the shopping center features high-end brands such as Dior, Rolex, Burberry, and Balenciaga… A-listers flock here to dock their super yachts.
Between Kotor Old Town’s historical charm and projects like Porto Montenegro that target the 1%, there are half-measures, of course, like the normal towns of Tivat, Kotor, and the areas surrounding them.
Inland from Kotor Bay, Montenegro houses even more surprises. Only a few hours’ drive away, there are two ski resorts. This is a place where you can ski in the morning and then swim in the Mediterranean in the afternoon.
Montenegro has a burgeoning reputation as an extreme sports destination.
One look at the topography and you’ll understand why… Sharp peaks create opportunities to practice wind sports, while national parks, like the UNESCO-recognized Durmitor National Park, provide hiking, abseiling, rock climbing, and whitewater rafting opportunities.
On top of all of this, the cost of living in Kotor Bay is low. A couple can live comfortably here on a budget of about 2,000 euros per month.
Compared to places in Croatia and Italy, where what’s on offer is roughly the same, prices here are a downright bargain, especially when it comes to real estate.
On average, you can expect to pay about 800 to 1,000 euros per month in rent for a standard two-bedroom apartment.
You can buy a modest, two-bedroom home, albeit one likely in need of some TLC, for as little as 50,000 euros. Inland, this price can go even lower.
For high-end property, luxury condos with a wealth of on-site luxury amenities located just minutes from Porto Montenegro Marina, are on the market for under 140,000 euros.
If you announce to friends and family, “I’m moving to Montenegro,” you’ll probably get some funny looks… Not many people have heard of Montenegro; to move here, you’ve got to be a little adventurous…
But you’ll be rewarded for your boldness.
You’ll be among the first to arrive in a place that we predict is going to explode in popularity over the coming years.
You’ll enjoy stunning sea and mountain vistas every day… You’ll lower your current cost of living… You’ll enjoy mild temperatures year-round as well as access to untouched nature…
You’ll be able to choose the lifestyle that suits you best among a diverse array of opportunities… you’ll have a friendly expat community to lean on… and you’ll be making a smart move, as property is still affordable, and it gets you residency and potentially a backdoor to the EU…
Sincerely,
Sophia Titley
Editor, Overseas Living Letter
