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Aleksandra Drašković, Founder and CEO, Montenegro Properties

Branded Residences Continue to Expand

Montenegro Properties was founded in 2006 and is today one of the leading real estate agencies in Montenegro. The company has participated in many expos worldwide, including MIPIM Horizons in 2009, to promote investments in Montenegro

This is a company that’s recognised for combining its expertise in direct property sales to end users, consulting with large institutional and private investors on the best investment opportunities and acquainting them with the comparative advantages of the Montenegrin market.

Your agency has won several prestigious awards for Best Real Estate Agent. You must be very proud.

We are proud that Montenegro Properties won several prestigious awards for Best Real Estate Agent, Best Real Estate Marketing and Best Real Estate Agency Website in Montenegro, under the scope of the International Property Awards, which recognises property industry excellence worldwide, promotes an international standard and rewards the best estate agents globally. Judging was entrusted to a panel of over 70 experts from all over the world and chaired by an active member of the House of Lords: Lord Best. Montenegro Properties appeared in the official winners’ publication “World’s Best 2020-2021”.

The world is changing fast and people want ever-more. What do your customers desire?

Introducing innovations to property sectors, switching to digital communication, online operations, has proven to be essential when it comes to the real estate brokerage business. The world is changing rapidly, and with it so is what we need from property.

High-end properties are attracting a new generation of discerning buyers. People want to spend more time outdoors, with their families, in contact with nature.

Lord Best presented the Five Star Award to Montenegro Properties for the Best Agency Marketing in 2023, at the gala dinner organized in Marriott hotel in London

Discerning buyers increasingly want a high-quality lifestyle that equates to them wanting a “one-stop-shop”, i.e., resorts with all amenities within the complex itself. This is becoming a growing trend on the market and is no longer considered an exclusive advantage, but rather a genuine trend, thus making a location that’s complete with a swimming pool, gym, 24/7 reception and facility management – simply a place to stay!

Discerning buyers increasingly want a high-quality lifestyle that equates to them wanting a “one-stop-shop”, i.e., resorts with all amenities within the complex itself

It is in line with this trend that Luštica Bay is launching the first golf residences with a prolonged interest-free payment plan, which enables buyers to move in or rent out the residence for up to three years before full payment is settled. These residences will certainly contribute and add value to the positioning of Montenegro as a prestigious destination.

How can you unlock future prospects and new opportunities?

Montenegro is an emerging market, a developing country with enormous potential to be unlocked, while it is certainly set to become a future hub for HNWIs and a hotspot for branded residences. The global market for branded residences is continuing to expand, with brands seeking new locations to grow their portfolios.

Montenegro is a young market that’s still to be discovered and is set to take advantage of this growing demand. With several branded residences already present in Montenegro (Regent hotel in Porto Montenegro, Kerzner International, One & Only Portonovi, Swissotel Resort, Accor etc.), we expect to unlock future prospects and new opportunities that will offer attractive ROI to potential investors and boost the growth of the country. The branded residences market is set to grow globally by 55% by 2026.

What should be improved?

There are a few challenges that Montenegro has to confront and shortcomings to work on in the near future, such as the fact that Montenegro still lacks strong road transport infrastructure and that it is necessary to improve airline connections.

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