Where Can I Find Listings of Real Estate in Kotor, Montenegro
Kotor is located in southwestern Montenegro, in the Bay of Kotor (Boka Kotorska), known as a historic UNESCO World Heritage site, and is seen as having one of the most beautiful natural harbors in Europe or anywhere in the world.
Due to its fame and natural beauty, with The Bay of Kotor being called the "southernmost fjord in Europe, Kotor is as a result one of the most visited towns in Montenegro, with high levels of tourism fueling the proprty rental market, and wealthy individuals looking for luxury real estate for sale.
Buying cheap luxury real estate listings in Kotor, Montenegro is a matter of perspective on what the purchaser or investor perceives as 'cheap'. The desired objective though can be possible with the right strategy.
"Cheap real estate" in luxury market doesn't always mean a low price, as a 'luxury property' that is undervalued for the current real estate market place status can be seen as being cheap.
A $1M home might be "cheap" compared to others at $2M that are located in Kotor, Montenegro, but the price difference for what seems to be very similar properties could be for a wide range of reasons.
If the luxury property has become distressed or foreclosed they are often sold below market value and at time through auctions. Or it could be the seller, for personal reasons like a job relocation has special reasons for letting the property be sold at a very low rate.
You may ask where can I find listings of real estate in Kotor, Montenegro, and in established or emerging luxury markets or area, luxury properties could be listed as undervalued in relation to future expectations, especially for areas such as growing neighborhoods in cities that are becoming popular, like those with infrastructure improvements or tourism growth.
Luxury buyers often have leverage as they have the financial means to purchase, especially in slow markets where borrowing from a bank is harder.
Properties bought below market value in luxury areas often see strong appreciation when the market recovers or the area gentrifies.
