Hi there,
I'm thinking of eventually retiring to Montenegro and buying a residence to enjoy the beautiful scenery for the long term.
However, in the meantime, I'm considering first getting to know the property market by buying an investment property (e.g. 1 bedroom apartment) in Kotor Old Town since it's a major tourist destination.
Any advice on the feasibility of this investment project? I appreciate that Kotor Old Town buildings need more maintenance than newer apartments. However, I thought it might be a better long term investment given limited availability.
Thanks for your insights!
Advice on buying investment property in Kotor Old Town
GuestPoster037
06 May 2018 06:49:58
0
Graham & Anja
02 July 2018 17:39:51
14
My wife and I did just that that. On retirement I purchased a property in Denovici as I found Kotor well over priced for what is available. the property I purchased is large with (at the time) 11 bedrooms for the same price as a small property in Kotor.
This I converted into 4 apartments, two of which are now up for sale.
I also purchased the property in front of us to stop anyone building a huge building and ruining the view.
One thing you need to watch for is someone selling you a property with a great view and then building in front of you.
The property in front of us is also up for sale having been refurbished and I expect (if not sold ) to construct a small swimming pool in the garden this winter.
We have some of the best views over Kotor Bay.
If you want to talk further I can be contacted on email [email protected].
Good luck with your plans.
Best Wishes Graham
We have now been here for 12 years.
kumbor
02 July 2018 17:50:01
106
Hi another consideration that you might need to take into account is that in the winter months Kotor gets very little sun.
As an investment property I am sure it will increase in value in the long term as Kotor is a unique town.Another option you could consider is the town of Perast.It really depends on weather you want to spend much time yourself living in the property or renting it.
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