Montenegro Mortgages
It’s no secret, I really like Montenegro. Ever since I first visited just before it split with Serbia in 2006 I’ve had somewhat of a love affair with this stunningly beautiful country and its warm and friendly people. This is just by way of explanation – I do feature Montenegro a lot here, hence this post on Montenegro mortgages – quite an important feature if you wish to purchase property there. The reason I feature it so much is that if somebody goes to Montenegro having read one of my pieces I know they won’t be disappointed. There are few enough countries that I can say that about.
In any case, on with Montenegro Mortgages. One of the biggest stumbling blocks for people purchasing property in Montenegro over the past decade or so has been the lack of Montenegro Mortgages. They haven’t really existed until now which has prevented many people who might have considered the lovely Balkan enclave otherwise.
The developer of the new Sea Breeze development in Kavac, Boka Group, has just unveiled a new Montenegro mortgage facility of up to 50% on its luxury Montenegro homes in collaboration with Crnogorska Komercijalna Banka (CKB) Bank. Overseas buyers have been unable to secure Montenegro mortgages using only the purchased property as security, until now. This new facility will come as a good sign of things to come, even by those not interested in purchasing at Sea Breeze. It is a sign that Montenegro Mortgages are beginning to become available, which is good news for anyone looking at Montenegro as a potential place in which to purchase property.
Minister Gvozdenovic, Minister for Sustainable Development and Tourism in Montenegro, comments:
[quote style=”1″]We want to focus on luxury tourism and achieve a high standard of service to give us a big competitive advantage. We are very proud that we now have investors from 107 countries around the world. Only two years after independence, foreign direct investment had increased close to 1 billion euro, compared to 10 million euro only 7 years before.
Not only will Montenegro be able to offer top quality accommodation, it also offers something special – organic food, a healthy way of living and a diverse experience.
In a short expanse of time, you can visit the coast, the canyons inland, Lake Skadar and the mountains. [/quote]
Montenegro Mortgages – What Can I Buy?
Montenegro mortgages from CKB Bank on Sea Breeze villas will range from €50,000 to €300,000 with an interest rate of 7.49% plus 12 month Euribor, over 25 years.
John Kennedy, co-founder of Boka Group says: “We are only the second developer to get this facility from CKB Bank so it demonstrates great confidence in our project and makes it much easier for overseas buyers to purchase a home at Sea Breeze and plan their second home investment.”
I’ve featured it here before, but in case you’ve not come across the Sea Breeze development, it is a group of fifty luxury villas situated on the lower slopes of a hillside with panoramic views over Kotor Bay, a stunning fjord surrounded by a 2,000 metre high mountain range. The development is located ten minutes’ drive from the beautiful walled city of Kotor, a UNESCO World Heritage site, five minutes’ from Tivat airport and close to 30 beaches on the Budva Riviera.
Each two and three bedroom villa has a private infinity pool and a garage. Prices start from €399,000 (£337,000) with buyers able to choose a variety of additional options, such as ‘smart home’ systems and enhancement packages for living, bathroom and kitchen areas to customise the property to their own taste.
Construction of the villas starts this month (May 2013), with the first villas due to complete by December 2013.
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