COMMERCIAL REAL ESTATE IN MONTENEGRO
The real estate sector in Montenegro, is one of the least developed in the Balkans region. Montenegro office stock is mostly located in Podgorica, where the centre of business activities is, with the current office stock amounting to 116,000 sq m. Podgorica modern Class A office supply is very limited, new office space is usually delivered within large mixed-use projects and investors are focused on the sale of office space.
The retail market in Montenegro is also mainly concentrated in Podgorica, with few shopping centres trading, such as Delta City, Bazar and Mall of Montenegro. Podgorica modern retail stock exceeds 88,000 sq m, or 473 sq m per 1,000 inhabitants. In addition to shopping centres, high street retail zone represents very important segment of the Podgorica retail market. The Montenegrin residential market, as well as the economy is strongly influenced by the net FDI inflows in tourism and real estate.
The Montenegro real estate market is attracting notable investments, while growing consumption, tourism and economic growth further encourage international players to expand their business.
Located in Herceg Novi, next to the first and the most famous new coastal development in Montenegro, CBS International’s office helps you to respond to these growing opportunities – throughout the Montenegro.
Why Montenegro?Montenegro is a south-eastern European country and part of the Adriatic region. It is surrounded by Italy on the south (sea border), Croatia on the west, Bosnia on the northwest, Serbia on the northeast and Albania on the southeast. It has a population of 620,029 citizens (as per Census 2011) and is the smallest in the Balkan Peninsula. Montenegro is a maritime country, with 293 km of the Adriatic coastline and a territory of 13,812 square kilometres.
Montenegro is one of the fastest-growing tourist destinations. Almost all economic activities in Montenegro are directed towards facilitating the development of the tourism. The Government aims to attract greenfield investments, which should make best use of undeveloped parts of the coast. Such investments could potentially reshape the appeal of Montenegro to tourists, making it a highly competitive destination for sustainable quality tourism. Montenegro can be presented as a destination offering a variety of attractions and all-year tourism.
Taking into account projects which were developed in previous period, it’s obvious that Montenegro is enhancing the luxury segment, aiming to become a Monte Carlo of the Adriatic Coast. In that way, the openness towards foreign investments is attracting resources but also increasing the capacity of the local tourism supply and definitely is very good advantage for tourism industry in this part of Europe.
What we offerCBS International is the Exclusive Affiliate Partner of Cushman & Wakefield in Montenegro, Serbia and Croatia, comprising a team of over 130 professionals and providing a range of real estate services to investors, occupiers and owners across all sectors of the real estate market. Cushman & Wakefield CBS International was established in Montenegro in 2008, it provides clients with the advantages of a global network and local expertise in the Adriatic region.
Our purpose begins by truly understanding your business, adapting to your needs and acting with a strong integrated services strategy to bring maximum value to your business.
Our sectors and services include:
- Office Agency
- Retail Agency
- Industrial & Land Agency
- Valuation and Development Advisory
- Market Research
- Capital Markets
- Project Management
- Property and Facilities Management