Sunday, August 06, 2006

Real Estate

One of the interesting phenomena which have come to light with Montenegro’s independence is the real estate boom. In old Kotor town agencies have sprung up catering to pockets of all depths, preferably very deep. All along the coast demand exceeds the offer. Everything goes from fully furbished villas to empty shells of long-deserted stone houses engulfed by roots of fig trees. Similar to Croatia from a couple of years ago, foreigners with some cash to spare buy, invest, sell. First came the Russians, now it’s the English. Hollywood seems to be interested as well. Friends tell me Michael Douglass and Katherine Zeta Jones were looking at a house in Perast the other day. Houses change hands and their prices go up and up. I guess now is the time to invest before the realtors move along into Albania. Hear the coast is amazing there. There’s already talk of the next big thing.

View from Perast. Skolje Islands: St. George and Lady of the Reef

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