More and more luxurious "russian villages" are appearing on the coast of Montenegro

On the coast of Montenegro, especially near Budva and on the aera of Sveti Stefan, "russian villages" are apearing. Those aren't just any villages, they are made out of luxurious summer houses - new and those which are renewed.

According to the statistics, foreigners who own most houses and apartments are people from Serbia, then from Russia and then from England (but Englanders just started arriving to the coast)

The official statistics of real estate stopped in 1999, when Serbs owned 45% of apartments in summer houses on the coast and in the hills of Montenegro. They owned 5% of companies and apartments in the cities and a fifth of hotels and restaurants too.

(more and more on the target of foreign buyers and investors)

The Russian joined the Serbs in the meantime, amd in the last two years, more English are comming too. The prices on the real estate trade are changing all by day. The general price is 300 to 500 EUR by square foot for coast lots, and 1.000 to 3.000 EUR by square foot for coast houses and apartments.

The russian ivestors bought the Hotels: "As" on Perazića Dol, "4th of july" in Petrovac and "Xanadu" in Herceg Novi, plus the restaurant "Kastelo" in Petrovac. The Montenegro-Russia company "Montenegro stars" became the owner of the Hotel "Splendid" and "Montenegro" in Bečići, and the summer house "Montenegro" in St Stefan is built on russian capital. The Summer house "Montenegro" was the only object which had 5 stars untill the Hotel "Splendid" opened.