Property Investment In Croatia And Montenegro
By Nick Shinner
Eastern Adriatic There’s nothing like stumbling across hidden treasure to get the wind in your sails. Imagine the French Riviera or the Amalfi Coast before they were built up and commercialised. Add over 1,200 islands, a stream of stunning historic towns dating back to the Romans, delicious cuisine at seafront restaurants where you don’t have to have a bun-fight to moor outside (at the moment), and sailing that offers something for everyone. There you have the eastern Adriatic. Croatia and Montenegro Property “Croatia and Montenegro have got it all,” says Simon, director of Split-based charter yacht company, Lazy Winch. “It doesn’t matter which way the wind blows. There’s always something to see or do. There are great short island hops that would suit a young family as well as fantastic offshore sailing for hardened sailors.”
Croatia Croatia’s 5,835km coastline – 1,777km of which stretches along the mainland - has always been popular with the yachting fraternity. “From a navigational perspective, the Adriatic coast offers mostly deep water, even 5-6 metres away from the islands, so it’s easier to anchor near your destination. And you don’t have to worry about hitting shifting sand banks either,” Simon advises. “Another advantage is that there’s no major commercial shipping along this stretch, so the water is cleaner and it makes sailing safer.” For the past decade, Croatia has been busy modernising its marina facilities, so infrastructure tends to be good. You can tie your boat for around £45 per night, which more than beats the £100-£150 charged by the marinas at Palma, Ibiza or Mahon. The upmarket Croatian islands of Hvar and Brac in particular have become magnets for the moneyed, as has the stunning bay of Kotor in Montenegro, which is also courting favour with yachtees who just can’t help falling in love with Europe’s most southerly fjord.
Montenegro “The sailing potential in Montenegro is excellent,.” says Caroline Hollingworth, Managing Director of UK-based property consultancy, Hollingworth & Taylor. “There are 117 beaches and coves to explore, caves, islands, a stunning fjord, and a host of historic town, but the current infrastructure in Montenegro has a long way to go before it matches what’s on offer in Croatia, basically because it lacks marina. This is excellent news for investors looking for great commercial development opportunities.” Indeed, the Montenegrin government have exciting plans under way for new marinas in Budva, Bar, and Tivat - where they hope to build the largest marina on the Adriatic – among many other much needed marinas along its stunning 294km coastline. “Within our Tourist Masterplan, the government’s aim is to rival the Balearics and the French Riviera for holidaymakers, and create upmarket tourism,” says Dragoljub Markovic, MD at Morsko Dobro, the government agency in charge of ensuring the coast is preserved from over-development. “There’s some way to go, but we’re getting there.” As a result of Montenegro’s burgeoning infrastructure, its increasing popularity as a tourist destination, pending EU accession expected by 2010, and successful adoption of the euro currency in 2002, these factors have created an excellent climate for investors, especially for sailors looking for an exclusive waterside property with its own boat mooring or private beach.
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