A coastal town situated in a bay surrounded by mountains, with boats and cruise ships in the water, and residential buildings with red-tiled roofs.

Montenegro

Wild beauty, serene fjords, and charming towns - a hidden gem in the heart of Europe.

We explored Montenegro in late 2023, staying in Budva, Tivat, Kotor, and Petrovac.

The country, whose name translates to "Black Mountain," shares borders with Albania to the south, Croatia and Bosnia and Herzegovina to the north and Serbia's breakaway province of Kosovo to the west. In 2006, a successful independence referendum with a 55% majority led to Montenegro's separation from Serbia. The country applied for EU membership in 2008, and while it hasn't been ratified yet, Montenegro is actively pursuing accession by 2028.

With a population of 627,000, Montenegro boasts a 295 km-long Adriatic coastline featuring 72km of beaches and numerous well-preserved ancient towns. The drive from Ulcinj in the south to Kotor is particularly scenic.

The Bay of Kotor stands out as one of the most breathtaking places we've encountered. Its beauty has been recognized by Time Out, which included Kotor among the 30 most beautiful places in the world. The Daily Express Travel even highlighted the Bay of Kotor as having one of the best views in Europe.

Tourism in Montenegro has experienced significant growth in the past decade, leading to a steady increase in property prices, though they remain relatively affordable compared to Australian standards.

A beach with sand and a thatched umbrella in the foreground, people walking along the shore, historic stone buildings and a castle on a peninsula, with mountains in the background under a partly cloudy sky.

Budva is the main coastal tourist resort town, known for its well-preserved medieval walled city, sandy beaches, and vibrant nightlife. Budva is over 2,500 years old with a population of around 19,000. Many apartments in town offer sea views over the Adriatic.

A waterfront scene with a small motorboat floating on calm water, lined with palm trees and a promenade. In the background, there are multi-story residential buildings and mountains under a clear sky.

Tivat is one of the youngest cities on the Montenegrin coast, with a population of 16,000. Its sheltered location in the Bay of Kotor makes it an ideal marina site. Porto Montenegro, the first luxury marina on the Adriatic, opened in 2009 and currently has 250 berths, attracting vessels from around the world. The resort also includes apartments, restaurants, bars, and various sports, recreational, and cultural activities. Like Budva, many properties in Tivat offer Adriatic views.

Kotor is a fortified town nestled between mountains and the turquoise waters of the Adriatic. The port of Kotor welcomes regular visits from cruise ships, and the bay itself has a fjord-like atmosphere due to the dramatic cliffs rising from the water. Kotor, with a population of 13,500, boasts a remarkably preserved World Heritage-listed Old Town and fortified walls built by the Venetians between the 12th and 14th centuries. The Kotor Walls offer stunning views, especially from St. John's Fortress at the top.

Tivat International Airport is conveniently located less than 20 km from each of these preferred locations and operates seasonal flights to over 40 destinations.

Montenegro's tourism boom, fuelled by increased flight routes with Western Europe and its appeal as a less crowded alternative to destinations like Croatia, has driven property market growth. Dubrovnik Airport in Croatia is only 48 km from Tivat, further enhancing accessibility.

We have partnered with a well-established real estate agency in Montenegro, with offices in Bar, Budva, and Kotor. They have been operating since 2004 and have extensive experience serving overseas clients, garnering positive reviews. We have personally met with the company's principal and senior sales staff and visited several properties for sale in Kotor.

Indicative Prices (2025) | Apartments, Penthouses, and a House (all with sea views)

*Prices shown are based on an exchange rate of 1.72 and do not include taxes or associated purchase expenses 

  • €360,000 (AUD$619,000) - Fully furnished 2-bedroom, 2-bathroom apartment (Bay of Kotor)

  • €380,000 (AUD$653,000) - Fully furnished 2-bedroom, 2-bathroom apartment (Bay of Kotor)

  • €375,000 (AUD$645,000) - New 3-bedroom, 2-bathroom apartment (Bay of Kotor)

  • €420,000 (AUD$722,000) - Fully furnished 3-bedroom, 2-bathroom penthouse (Bay of Kotor). We inspected this immaculate apartment with stunning views, located 1km from the 5-star Hyatt Regency Kotor Bay Resort which opened in June 2023

  • €379,000 (AUD$651,000) - Fully furnished 3-bedroom, 2-bathroom penthouse with panoramic views of the Old Town and Sveti Nikola Island (Budva)

  • €435,000 (AUD$748,000) - Brand new, partly furnished 2-bedroom, 2-bathroom house (Tivat)