In short,
KOTOR - , but i think you have thought about all Kotor Bay which covers also towns like Herceg Novi, Risan and Tivat. Though all bay have not very nice beaches, it is still popular because sea is hotter than on the open sea. (last year in this time sea temp was app. 33C).
For investment purposes, depends what is your objective, you can buy a land with all documents for building for approximately 400 - 500 Euro / m2 very close to the sea. Of that land you can take 25 % for fundament, and 80% of land surface for apartments sqm. exp. if you buy 1000 m2 of land, you can have fundament around 250 m2 and in total of 800 m2. this is more-less standard for Kotor bay. Apartments selling price in Prcanj and Stoliv which is most popular are around 3500 E/m2. Tivat have prices from 2500 - . In Tivat most expencisive apartments and houses are close to Munk marina.
Kotor as a town is very well visited by tourists everyday, but there is not much developments because very bad beaches, and .. Kotor is just not town for living, it is town for visiting.
Herceg Novi and around have lot of developments , though apartments starts from 1700 E/m2.
Regarding a bay, I can suggest you to have look at Tivat area, and also to Lustica peninsula which belongs more to municipality Herceg Novi than Tivat.
Tivat because it is now small town but with Munk marina finished, it will get completely new city centre on 20 ha, also other developmets as Lustica Development and Blue Laguna resort can rize value of today investment.
BUDVA- it is already overcrowded, in winter Budva have around 10 000 citizen, in summer it have over 80 000. But, it is not all in Budva, but Budva Municipality also covers Sveti Stefan, Petrovac, Rezevici, beach Jaz (where we will hopefully have Maddona concert in late September).
Lot of big projects are around, I have mentioned some in Montenegro Investment thread. Current, and from what Budva be also known is Mirax project . Have look in astramontenegro dot com. Definitely Budva and area have potential for investment, due to the fact that building cost is still acceptable and for luxury apartments goes up to 700 E/m2, and selling price is much higher , around 3 000 E/m2.
Regarding a Budva, I can suggest you Rezevici area ,which is between Budva and Petrovac. Area is expecting very huge developments and is spared for exclusive tourism. Also, background of Buljarica long, sandy beach which is also expecting tender for application of serious investors. Estimation for all Bularica area from some Franch bureau is from 7 billion of Euros.
Land in Budva is expensive now and very hard to find.
If have any questions , feel free to ask
MLS
|