Turks Are Selling Everything They Own and Fleeing the Country: The Real Estate Market Has Collapsed in the Famous Holiday Resort - Sözcü Newspaper
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9 Articles
In Budva, Montenegro's tourism hub, the real estate market has taken a turn for the worse as foreign investors have begun selling their properties. Visa uncertainties, sanctions, and rising costs have led Russian and Turkish citizens to sell their properties, causing rental prices in the area to drop by up to 200 euros.
In Budva, a tourist center in Montenegro, the real estate market has shifted as foreign investors put their properties up for sale. Sales by Russian and Turkish citizens have increased the supply of housing, while apartments that previously rented for 600-700 euros are now renting for 400-500 euros.
The Budwa real estate market is part of the autumn with a changed supply-demand ratio. In some segments, the cost of housing is stagnating and the rental of some apartments has increased by 200 per month. Foreigners have begun to leave the market, TV Budva reports.
The real estate market in Budva and its surroundings is entering a new phase after the end of the summer season. The supply of apartments is larger, buyers are more cautious, and rental prices are no longer at the level that was characteristic of previous years, writes eKapija.
After the summer tourist season, the real estate market in Montenegro is experiencing increasing supply and decreasing demand. Prices are stagnating or even falling, especially in the seaside resort of Budva, where foreign owners, mainly Turks and Russians, are selling their properties and leaving the country.
The real estate market in Budva, one of the important tourist centers of Montenegro, has changed direction. The supply of housing increased as citizens of Russia and Turkey put their properties up for sale, while the monthly rents of some apartments fell by up to 200 euros.
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