Destinations by LeadingRE, the new development marketing program powered by Leading Real Estate Companies of the World®, recently welcomed Porto Montenegro to its curated collection of prime new developments around the world. Here, learn what makes the development so extraordinary.
Katie Smirnina
Katie Smirnina
Head of Sales UK, North America and Middle East
Porto Montenegro
Please describe the project.
Porto Montenegro is a world-class destination that has driven the revitalization of the UNESCO-protected Bay of Kotor. The luxury destination that has attracted the vanguard of the world’s tastemakers includes a superyacht marina with full refit and maintenance facilities, five-star hospitality, premium residences, international fashion boutiques and a vibrant dining scene.
The project has transformed the coastal area into a thriving community for locals and visitors alike, as well as one of the world’s foremost hubs for yachting, entrepreneurship and investment. Upon completion, Porto Montenegro will feature five distinct districts including South Village, Boka Place, Synchro Yards, North Village and Park View Gardens. In fact, Porto Montenegro was the first marina in the world to receive the Platinum distinction from The Yacht Harbor Association.
Porto Montenegro Boka Place, priced from $340,000 USD.
Tell us about the philosophy/vision behind this project.
Porto Montenegro was envisioned as a luxury waterfront community and premier superyacht marina aimed at transforming the coastal landscape of Montenegro into a destination for high-end living and tourism. At its core, Porto Montenegro aims to preserve the historical essence of the region while creating a vibrant, modern destination.
The villages of Porto Montenegro seamlessly blend old and new, paying homage to the charm and heritage of a traditional Montenegrin town characterized by stone buildings, charming piazzas and hidden alcoves, while infusing modern shopping, dining and entertainment facilities throughout.
How does the development balance stability with luxury?
Porto Montenegro remains committed to nothing less than being the most sustainable development in the world. Its transformation from a military naval base to a luxury destination displays not only adaptive reuse, but a strong emphasis on preserving historical heritage and promoting sustainable land-use developments.
One of our most popular attractions is the Maritime Heritage Museum, which is housed in a restored 19th century sawmill. This museum exemplifies a major effort to preserve and showcase the region’s nautical history through displays and preservation of naval artifacts, including rare equipment and Yugoslav submarines.
Additionally, the former Synchro lift, which was once used to service large naval vessels, is envisioned as a cultural hub that harmonizes lush greenery surrounding the bay, blending history and modern development.
In its residences, Porto Montenegro is committed to innovation and sustainable solutions to the natural environment. As such, all buildings are designed with high-performance insulation and energy-efficient lighting to reduce energy consumption.
We also implemented double-glazed, anodized aluminum-framed doors and floor-to-ceiling windows to enhance thermal performance and natural light, which reduces the need for artificial lighting and heating/cooling.
Montenegrin landscape
What lifestyle features does your project offer consumers?
The lifestyle in Porto Montenegro is the perfect balance of nautical and luxury living. Residents and visitors have access to designer boutiques, al fresco dining options, wellness spas, five-star hotels and more, all along the Adriatic coast. Additionally, the region’s natural beauty encourages outdoor activities like hiking, boating, cycling and beaching.
Porto Montenegro also hosts a vibrant series of events, including concerts, music festivals, art exhibitions, wine tastings, foodie weekends, fashion shows and sporting competitions, positioning the region as a lively cultural hotspot in the Mediterranean region.
What are the key selling points when it comes to the project’s location?
The Bay of Kotor boasts 280 days of sunshine and waterfront living, attracting international investors who are seeking a nautical, laid-back lifestyle in a luxurious community with endless activities. Buyers also gravitate to Montenegro because of its flat and competitive tax system, with only 15% tax on personal and corporate income. The region also has no wealth tax and no stamp duty, while still offering Euro currency safety and the planned integration into the EU.
What makes your project compelling for real estate investors?
Many real estate investors are flocking to this marina neighborhood because of its residential properties that offer secure freehold titles, with no restrictions on the resale of apartments once the owner holds the title. In addition to this, Montenegro offers numerous tax and legislative benefits, further attracting investment into this region. From an investor and homeowner perspective, there’s an attractive destination in place, but also a solid platform for prodigious growth, particularly as the world continues to learn about Porto Montenegro and the country overall, as it’s one of the fastest-growing economies in Europe, and one of the most quickly appreciating tourism economies in the world.
Porto Montenegro Synchro Yards, priced from $834,000 USD.
What trends are you seeing from international investors?
The combination of luxury living and prominent investment opportunities is sparking a significant increase in international investment, particularly from UHNW individuals. In fact, as of June 2024, Montenegro now comprises over 2,800 millionaires and 15 centi-millionaires, clearly exemplifying the compelling proposition for those seeking both opulence and financial gains. For individual buyers and investors, real estate offers stability in an uncertain global economy, and there’s very much a portfolio approach for many buyers—i.e., they own a number of properties across time zones. This makes full-service, turnkey and resort-style living all the more attractive, as these investors are looking for luxury with minimal friction.
Are you seeing much interest from U.S. buyers?
We’re seeing an increasing number of buyers and consumers in the United States because of Porto Montenegro’s accessible location. There’s also a growing celebrity contingent from the U.S. who frequent Porto Montenegro in addition to high-net-worth individuals and influencers, which is having a trickledown effect and sparking U.S. interest. In fact, we’re seeing the highest number of inquiries from the U.S. market in the past two years. Basically, yachting enthusiasts can function as the barometer for where the rest of the travel market will be looking—and Porto Montenegro is increasingly the choice for yachters who are looking for something new.
Are there any special considerations international buyers should consider when buying in your development?
Porto Montenegro offers international buyers a unique position to be part of a real estate market that’s poised for transformative growth, driven by a comprehensive master plan that’s accessible and enticing for international investors. The region’s investor-friendly policies, such as a low 15% personal tax rate, corporate income tax, capital gains tax and no wealth taxes incentivize long-term investment. On top of that, Porto Montenegro provides foreign nationals the option to obtain temporary and permanent residency through real estate investments.
For more information, please visit www.destinationsbyleadingre.com or www.portomontenegro.com.
