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New Luxury Apartments at Blue Horizons Resort at Przno, Montenegro (only a Few Still Available)
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| Property Group | Residential | | Property Type | Apartment | | Built | 2009 | | Price | Euro 142,000
For Sale |
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| Location | Blue Horizon Resort | | Nearest City | Przno | | Living area | 50.61 sq/m | | Bedrooms | 1 | | Bathrooms | 1 | | Living Rooms | 1 |
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| | For further details contact
John Wallace
143 Longview Drive
Chatham, 12037, NY
United States
Phone: +1-518-392-7062
Fax: +1-877-875-5704
http://www.worldrealtynews.com |
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REF: Baltimore-2
DEVELOPMENT OVERVIEW - COMPLETED IN 2009
Only 3 hours flying time from Ireland and the UK. This very modern glass fronted complex with architectural mix of local stone set in landscaped tropical gardens with waterfall tiered swimming pools.
The Blue Horizon apartments, beautifully situated in a peaceful green haven overlooking Przno village and beach out to the turquoise clean waters of the Adriatic. With majestic mountains (green all year) as a backdrop, this part of the coastline is a popular holiday destination for British, Russian, Scandinavian, Irish and local tourists and has been a favorite of the jet-setters since the 50's, notably Sophia Loren, Liz Taylor and even Princess Diana and Prince Charles stopped here on their honeymoon.
The apartments are ideally located within short walking distance to Sveti Stefan and Montenegro's best beaches at Queens Beach and Sveti. The most fashionable and upmarket area along the Budva Riviera - Przno's property prices are rising rapidly and faster than other parts of Montenegro. Flying time is 3 hours from the U.K. and Ireland to Dubronvnik airport (2 hours drive to Przno) or Tivat airport (20 minutes drive to Przno) or Podgorica - the capital of Montenegro (40 minutes drive to Przno). Flights also available with Aer Lingus / JAT / Concord and Croatia Airlines.
SPECIFICATIONS:
101 luxury apartments (51 x 2 bed and 50 x 1 beds)
Price includes allocated underground parking space for each apartment
Visitors parking area above ground
Walkway direct to beach/restaurants/cafes - 5 mins to beach
Air Conditioning (including Bedrooms)
Luxury finishes to bathrooms and kitchens
Due for completion in September 2009
Unspoiled Adriatic coastline and clean turquoise waters
Green Mountain backdrop along coastline
Sea views from all apartments
Rental yields 5-6%
Fastest growing tourist destination in the world
Mediterranean climate - long summer season
External walls insulated
External windows & doors (double-glazed)
Public lighting in garden & all external common areas
Cable T.V.
Telephone sockets
Fully fitted kitchen including hob, oven, fridge, extractor fan
Work surface – granite or equivalent material
All interior doors & skirting – oak finish
Iron mongary – stainless steel
Main entrance door – full security
Bathrooms – tiled floor to ceiling
Concealed cisterns
High quality sanitary ware
Tiled floors throughout with high quality tiles
Painting & decorating in white finish with all woodwork finished to a high quality in natural colour
Stairways & common areas in marble finish or equivalent
All hand rails – stainless steel
PAYMENT PLAN:
10% On signing contract
90% One Month after signing contract and sale
BUYING ADVICE:
The selling and buying of properties are without restriction in Montenegro and is regulated by law and legally secure. Ownership is guaranteed and in that respect there are no specific limitations. The only exceptions being public property, i.e. streets, squares and public objects of special importance etc of which the sale and purchase is not permitted.
The legal procedure is as follows:
The buying process for foreigners is the same as for Montenegrins, with no restrictions on buying private property.
The Law on Foreign Investments of Montenegro (the Law) defines Corporative Investing as a right of a foreign legal entity or natural person to establish various types of companies (General Partnership, Limited Partnership, Limited Liability Company or a Joint Stock Company) in Montenegro. The foreign investor may, either alone or together with other foreign or domestic investors, form an enterprise or purchase shares of or interests in an existing enterprise.
After agreeing a purchase price with the seller a 10% – 20% deposit is usually standard.
A contract is then drawn up and signed by both parties. A purchase tax of around 3% of the property value is paid. Factor in the cost of an interpreter and document translation, and be aware that lawyers can act for both parties though this can be arranged differently if you prefer. The whole process can take up to two months.
No Mortgages available in Montenegro, however mortgages are beginning to become available from 50% to 70% loan-to-value.
Registering a property can be completed within a couple of days at the Land Registry office, in a fairly straight forward process with little potential trouble.
Costs of a standard property purchase in Montenegro include the following:
Legal fees amount to around 1% of property purchases.
No Inheritance Tax. Property purchase tax is 3%, but not applicable if you buy off plan and is the first registered owner of the property.
Capital gains realized by selling securities held in the taxpayer portfolio for more than two years shall not be subject to the tax.
Once the agreed amount of money has exchanged hands the purchase is now complete. |
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