The Luxury Network International Magazine Issue 15

and surge in leads of 385%, which
is more than the last three years
combined. We are delighted to have
now sold over 300 units to buyers
from 38 different nationalities.
In Montenegro, we are unrivalled
terms of what we are offering – this
isn’t just a destination for holidaymakers,
we are building a town with
all the facilities you could imagine,
including the country’s first 18-hole
golf course designed by Gary Player
with triple aspect views of azure
coloured waters. We are truly redefining
the residential landscape not
just in Montenegro, but across the
Balkans.”
International buyer demand is expected
to continue rising, due to
the launch of new flight routes
from across Europe such as from
Brussels, Krakow, Munich, Frankfurt,
London, Oslo and Stockholm,
the Far East (through Belgrade), as
well as the launch of direct flights
from the United Arab Emirates.
Currently, Montenegro is attracting
a lot of international attention
due to the government planning
to launch a new citizenship by investment
scheme. Citizenship by
investment offers individuals the
opportunity to obtain Montenegrin
nationality, in return for investment
in the country’s real estate,
plus a donation to fund an aspect
of its development.
It is set to launch this year, but
the details are still being finalised,
and it is likely that the Montenegro
Citizenship by Investment
programme* will be limited to just
64
2,000 applications and the proposed
scheme to run for only three
years ending in 2021.
As regards travel, Montenegro is
now one of the fastest-growing
tourist economies in the world,
with approximate 10% Y-O-Y increase
with number of tourists
reaching 2.3M in 2018 according
to Montenegrin Statistical Office,
and 11.9 million overnight stays
last year. It was also ranked by the
World Travel and Tourism Council
(WTTC) as no. 3 in the world for
tourism growth, with a 12.7% Y-O-Y
increase in visitor numbers, plus
it has an ever-growing reputation
as a high-end luxury destination,
which the launch of the five-star
Chedi is testament to. While owners
and guests at Luštica Bay enjoy
embracing the Montenegrin saying:
Samo Polako – to slow down and
live in the here and now, the construction
rate will continue to increase
at pace until The long-term
vision reaches its planned completion
timeline, with its seventh hotel
aimed to complete by 2032.
For more information please visit:
www.lusticabay.com
*Early indications suggest that a
donation of €100,000 will be required,
followed by a real estate investment
of €450,000 in the coastal
region of the country, alongside
a fee of €15,000. It is planned that
the benefits of the scheme can be extended
not just to the individual but
also to their family. For an additional
€10,000 per person, four family
members can be added, and further
family members for up to €50,000.
The donation will be used to help
funder underdeveloped local government
departments, while the
investment funds will support development
projects in the country’s
northern and central areas, with the
largest amount reserved for projects
in the capital Podgorica, and
the coastal region, including that
around our own Luštica Bay. The
programme will also benefit tourism,
agriculture and manufacturing,
create new jobs and help to improve
the quality of life of all citizens.