Pallace Milosevic

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Take this rare opportunity to purchase a fabulous piece of Montenegro real estate or Montenegro Reality, the famous listed building called Palace Milosevic. It was constructed in1828, as two separate residencies for the famous Milosevic’s brothers, Bozan and Vido. The property for sale is Vido Milosevic’s residence, that is the entire right hand side of this luxurious seaside villa with its own private front and back entrances and an internal space of over 600sqm arranged over five floors.

The building commands prime unobstructed first line position to the sea (less than 4 metres from the door), in the spectacular boka bay, one of the world’s most beautiful natural bays and accredited with the world heritage site accolade. Situated in the exclusive Dobrota enclave less than 1km from the famous UNESCO protected town of Kotor, this is truly the best location and is right in the heart of where everyone wants to be. Stroll along the newly constructed promenade that takes you directly to Kotor, dine in the restaurants and bars dotted along this pretty coastline, swim in the warm waters of the fjord or watch the yachts pass right in front of your window.

Permission has been granted by the Cultural Heritage (UNESCO) and the municipality of Kotor to develop this listed building into either one large residence or 7 self contained apartments or, a mixture of both options depending on the buyer’s requirements. The buyer can purchase the building as it stands and then have the freedom to create their own dream residence to their design and specification or create apartments for the resale market or even have a combination of both. There is also the option to buy the building completely finished by the seller using the buyers design and specification. The advantage of this would be that the seller has experience of creating spectacular homes with international design and finish, and importantly has experience of developing in Montenegro on previous projects.

Whichever option is preferable to the buyer it is evident that this piece of real estate offers a one off opportunity to own a prestige’s property in one of the world’s best locations, Montenegro. This will make an excellent international property investment and will also allow you to indulge in your creative property dreams.

SOME OF THE REASONS WHY THIS REALITY MAKES AN EXCELLENT INTERNATIONAL PROPERTY INVESTMENT?

With the option for the buyer to reconstruct the building themselves a good profit can be realized very quickly once the work is completed and can either be resold as apartments or retained for further capital growth
Buy in your own name with no need to form a company
Close to restaurants and bars
Over 600sqm of internal space
No Capital gains on property bought in Montenegro and can be resold at any time
Use of the existing punta or mooring
No agency commission, buy direct from the seller saving at least 5 -10% (unless you have found this property through an agency)
100% clear paperwork, with quick ownership of property title deeds
Very low 2% property tax payable to Inland Revenue
Property can be rented out without any restrictions or need to file additional paperwork
Continued capital growth predicted especially for front line property
Fastest growing tourist destination in the World
Peter Monks development is taking place in Boka Bay to create one of the largest marinas in Europe, especially designed for super yachts with the first phase due for completion in 2009
Further direct flights are scheduled to fly from Moscow, London and Dublin to Boka Bay (Tivat Airport, Montenegro) with major plans to expand the Airport even further. This airport is less than 10 minutes from Palace Milosevic, there is no noise disturbance as it is on the other side of the fjord.

Price on application, please contact us for more details or any queries about this property.