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The 5 stars Condo hotel is part of a luxury resort complex situated on Traste Bay, on Lustica peninsula in north-western Montenegro. It is adjacent to the village of Radovici, part of Tivat Municipality. The complex is situated 13.5 km from the city of Tivat and 10 km from the international airport with flights worldwide. Some 80 km from the development is the capital city Podgorica and 60 km is Croatia’s Dubrovnik.
• This is the largest luxury resort and residential project with a yacht marina, golf course and many other facilities.
• Complex territory is over 6 million sq.m. It is the first genuine eco-friendly project in Montenegro.
• The development is designed as a city-club that combine people from all over the world, keen on golf, sailing, riding, water sports or just holidaymakers by unspoiled nature and pure sea.
• The developed infrastructure of the project combines everything you need for a luxurious and secure living: golf course with 18 holes, 2 marinas, hotels, luxury apartments, villas and townhouses, schools, medical centers, spa and wellness center, a conference center and other facilities.
Hotel condo rooms
• The condo-hotel is in construction stage. Hotel is scheduled for opening in summer 2018. It is located on the waterfront.
• Each condo room is fully furnished in accordance with 5* standards and as an owner you’ll be exempted from paying maintenance fees. You will be registered in the Land Registry as an owner and you‘ll be able to sell your room (along with the rental obligations) in case if required. The only restriction is in the condo room usage – you are limited to only 30 days, off the main season.
There are 2 programs:
• Program of guaranteed rental You will get 4.32% for the first three years of hotel operation. After three years profits will be split proportionally in accordance with the pool share and the room price. It is 35/65% split (in reality you should expect a share from 35% to 29% depending on a room category).
• Program with no rental guarantee You will not get the fixed 4,32% for the first year, but you will be getting pool revenue split 50/50 (in reality you should expect a share from 50% to 41% depending on a room category) . The second program (no guarantee) will bring you more profits on a long term perspective.
• Excellent location. These world-class properties are situated among untouched nature of Montenegro at the Adriatic coast, featuring unobstructed sea views.
• Complete infrastructure and community facilities - the development offers all living amenities, including shops, bars, restaurants, schools and medical centres.
• Key attractions - 2 marinas with mooring and docking support facilities, 7 hotels and a year-round world-class 18-hole golf course.
• Low taxes - with a flat-rate income and corporate tax (9%), Montenegro’s tax system has become one of most attractive in Europe.
• Simple legal framework - foreign investors and Montenegrin citizens are treated equally, so buying and registering property is easy.
• Early bird benefit - Montenegro is at beginning of the real estate development cycle. Early buyers will benefit from a low entry price point and price appreciation over time.
• Currency safety - buying and selling using the EURO currency – limiting currency risk.
• Sustainability - the Development takes an environmentally friendly approach as well as low density development strategy, which puts the environment in the centre of all decisions.
• Stability - The government of Montenegro is committed to reform, prosperity and dynamic growth.
• Partnership - the management structure consists of a Swiss developer - Orascom Development Ltd. (90%), renowned for its precision and accuracy in the execution of successful integrated town developments around the world, and the Government of Montenegro (10%)
This property listing (ref: Hotel Condo Rooms) is an advertisement supplied by Stonehard Ltd and does not constitute property particulars. While aplaceinthesun.com (APITS Ltd.) requests all advertisers supply correct details, it does not carry out checks on the information supplied and cannot be held responsible for any inaccuracies. Aplaceinthesun.com recommends seeking independent legal advice prior to any overseas property purchase.