The republic of Montenegro is located in South Eastern Europe and has a beautiful and diverse countryside. Montenegro is quite simply stunning and a outdoor lover’s dream come true. Over half of the Republic consists of mountains and high pasture valleys with over 35 lakes and the World’s largest clean water gorge. Ranging from mountainous terrain complete with your typical log cabin ski chalets, all the way down to the sun kissed Adriatic coastline where the beaches are among the best Europe has to offer. A Balkan state, Montenegro shares borders with; Croatia, Bosnia Herzegovina, Serbia & Albania. It is the youngest European country having gained it’s independence from Serbia in 2006. As a result of this, the travel and tourism industry are very much in their infancy but this is a country with much to offer and already there is a healthy market for holiday and second homes. In the ski resorts, log cabins, park homes and timber chalets are proving very popular, particularly for short term rental purposes. The World Travel and Tourism Council tips Montenegro as the number one country for tourism growth and visitor numbers are expected to rise by an average of 9.9% until 2015.
The Holiday Home Market in Montenegro – Montenegro is a country that has in the past suffered from flooding and earthquakes, the country lies in the area of high seismic risk, and property damage caused by flooding and earthquake cannot be ruled out. Building & Contents Insurance for either a Holiday home or second home is now available from the United Kingdom with policy wordings written in plain English. Cover can be arranged either on a property that is owner occupied or that is let to tenants. In most countries, there will be rules and regulations that apply to let property and it is of course important to check with a local solicitor or letting agent who can alert you to your responsibilities. If you intend to receive paying guests in to your property, you will need to also discuss this with your insurance company to make sure that you have the correct form of liability insurance cover.
Montenegro has a large number of towns that have developed their own identity over the centuries, on first glance, architecturally, they may all look similar but each has a character of it’s own. The main cities in Montenegro for which insurance can be obtained and property investment is popular are; Budva, Bar, Centinje, Kotor, Tivat, Herceg, Niksic, Novi, Ulcinj, Danilovgrad, Kolasin, Mojkovac, Polje, Berane, Pljevlja, Rozaje, Zabljak, Plav & Podorica, the capital city. All of these places appear to be starting to appear of the radars of property investors.