Montenegro Featured in Savills Global Research Covering Integrated Resorts
In the latest Savills research publication titled “Development trends in integrated resorts”, our Managing Director Kieran Kelleher provides expert insight into current trends focusing on Montenegro.
When asked, what are your clients looking for in their resort properties Kieran Kelleher gave his local insights:
Clients in Porto Montenegro are seeking a sense of community through fully self-contained resorts with shopping, entertainment, schooling, etc. For these resorts to be truly successful, the expectations of all stakeholders should be exceeded – everyone needs to be happy with the resort, the neighbourhood and the wider environment.
Porto Montenegro was originally a port for the navy, but now is a port for some of the greatest yachts in the world. The two neighbourhoods of South Village and Boka Place have attracted buyers globally for their attractive capital values with the potential for price growth. The region also is safe and secure, with a significantly lower cost of living. The resort is also very well connected – within a five-hour flight for 600 million people.
The Savills Global Residential Development Consultancy specializes in integrated resort development, and the team has been offering insights into the current trends in the resort development markets. Furthermore, the group is supported by local experts who provide further information on the subject.
In the past few years, real estate trends have altered the landscape of development, especially in the hospitality industry. The idea of regular hotels is changing, with more people preferring mixed-use projects that incorporate residential, hotel and commercial spaces. This reflects a desire for more comprehensive and fulfilling lifestyle experiences.
The residential mixed-use landscape has been altered by the changing housing trends. As remote work becomes more popular, people are calling for accommodations that offer office space and are suitable for longer stays. There is also a strong emphasis on the integration of outdoor spaces within these developments, as indoor/outdoor living is sought after for second homes. To meet this need, developers are integrating nature into communal areas of resorts, creating a harmonious balance between the man-made and the natural.
The tendency has changed from the classic buy-to-build model to a preference for turn-key properties that are ready to move in. This is in line with the desire for comfort and the need for quick satisfaction. Splendid sights, like sea and mountain views, can be worth a lot of money, displaying the power of stunning vistas on the value of real estate. Also, managed units like branded residences have grown in demand because of their ease and the hassle-free way of living they provide. They offer a variety of services, making it possible for residents to enjoy a luxurious and carefree lifestyle.
Read the full article here.
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