In the Old town and Perast square meter 5.000 euros

Secretary for urbanism Petar Zivkovic, says that based on the tax income from the real estates where one percent belongs to the Municipality, in this year the Municipality cash register was filled with 500.000 euros, which means that the sales of the real estates was around 50 millions of euros – said Zivkovic for Vijesti.

According to the trend of the growth of the sales, in that Secretariat the number of requests has doubled compared to the last year when the greatest growth of sale in the last then years was marked and it is 1.902 requests.

- In August this year we already had 2.500 requests, and until the end of the year I expect that that number will be around 3.200 – said Zivkovic.

He confirms that the interested users of the space usually want to dictate the terms, but in the Secretariat they are acting in accordance with the spatial planning documents which are in power and which function retro actively.

- Their appetites and requests are always much bigger, and we of course can’t approve something which is not legal, something out from the spatial plan of the Municipality, DUP and GUP. Even though we are directing them to the ambience architecture which is characteristic for this area and we give advices, investors very often want to do what they have intended – said Zivkovic and he adds that when we are talking about urban space, 70% of the total number of the request applicants is asking for the increase of the dimensions and other terms then those foreseen with the plan.

On the real estate market still the most attractive are Kotor’s Old town and Perast where the price of an m2 fluctuates between 3 and 5 thousands of euros the amount for which business spaces, renewed apartments and houses on good locations are being sold. However even less attractive location, out of town are equally well sold, only the prices is less, 2.000€. Ruins are also interesting which are adapted by buyers and adjust to their own needs or they are re - selling them. The price of the m2 of land depending on the location has reached 200 euros per m2.

The owners of the agency “Montenegro Real Estate” Mark Wild and Borka Papovic say that most frequent buyers are English men, Irish men, Russians and smaller number of inhabitants of some European countries.

They, however, point out that the current sale is slowed down because of the extremely high price of the real estates. About the invasion of the buyers and constant growth of the sales speaks also the record about the agencies which popped out like mushrooms after the rain.

- When we have started working two years ago in Kotor there were three agencies, and today there are close to 40, and maybe even more – they say.

It is obvious that the prognosis that considering the great demand and a little offer the prices of the real estates will be constantly growing about which “Vijesti” wrote in November last year. So the price of the m2 in the Old town was from 1.250 to 1.500 and the maximum value was 2.000 euros on the attractive locations.

Our collocutors could not have precise until when the boom on the market of the real estates will last, but they are estimating that it is realistic that the price will hold on at some 3.000 euros.