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Post by radovic on May 13, 2009 10:54:03 GMT -5
Real Estate Plummets in Montenegro Podgorica | 13 May 2009 |
Montenegro's beachMontenegro’s central bank said foreign investment in the country’s real estate market dropped 59.2 per cent in January this year, when compared to January 2008.
Source: ANSAmed
Foreign investment into real estate amounted to 11.4 million euro
Overall foreign direct investment fell 54.6 per cent in January to 23.6 million euro this year when compared to January, 2008.
Despite this fall, real estate continued to attract the majority of investments, accounting for 42.8 per cent, of the total investments, while 28 per cent was invested in local businesses and banks.
In yearly terms, the drop in investment in local businesses and banks was 70 per cent.
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Post by todhrimencuri on May 13, 2009 13:13:45 GMT -5
Bound to, the whole system must be exhausted. They ran on the momentary high and now have started to come down fast.
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Post by ErmirI on May 13, 2009 13:56:40 GMT -5
....Or no more Russians to buy there. An Italian expert on Russia was talking live on the Radio24 from Ekaterinburg saying that no one was building anymore in this city. What used to be huge construction sites in September had become totally ghostly.
A country needs to produce in order to have a sustainable economy. Montenegro produces very little so in these times of crisis they are bound to feel it more than the rest.
Edit : The radio I was talking about is radio24 which belongs to Ilsole24Ore, the economical Italian newspaper. Very trustworthy.
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Post by radovic on May 13, 2009 14:44:42 GMT -5
^ They produce nothing now.
the main industry aside tourism was KAP, it's closed down as are the 100 factories directly connected to it.
KAP directly and indirectly is reponsible for as much as 40% of economic output.
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Post by Caslav Klonimirovic on May 13, 2009 23:47:57 GMT -5
59.2% is a massive drop.
Can anyone post stats on the American housing market? I hear that there have been massive falls over the last few years. I've sold my property so I'm thinking of buying there since massive gains that could be made simply if prices just return.
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Nikola
Senior Moderator
Posts: 1,835
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Post by Nikola on May 14, 2009 6:56:59 GMT -5
How much would a 2 bedroom apartment in Montenegro cost in Euros roughly?
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Post by Emperor AAdmin on May 14, 2009 13:55:02 GMT -5
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Post by Emperor AAdmin on May 14, 2009 13:56:31 GMT -5
Perast Petrovac
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Nikola
Senior Moderator
Posts: 1,835
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Post by Nikola on May 14, 2009 17:41:19 GMT -5
Nice, thanks Admin. Some of those prices vary immensly. I guess not everybody has realised they need to drop their price in order to be able to sell.
I wouldn't mind picking up an apartment on the beach as a holiday house type of thing.
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Post by Emperor AAdmin on Jul 15, 2009 1:41:57 GMT -5
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Post by ilirdardani on Jul 15, 2009 19:21:30 GMT -5
Montenegro is beautiful.
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