Budva is one of the oldest settlements on the Adriatic coast, dating back to the 5th century BC. First colonised by the Greeks, Budva became part of the Roman Empire (didn’t we all darling?) in the 2nd century BC. Long after the empire crumbled the Italians returned, with Venice ruling Budva from 1420 to 1797. A brief period of French rule was followed by a century of Austrian rule. When they cleared off after WW1 the Kingdom of Yugoslavia took over, before the Italians came back for a third go in WW2. Liberated in 1944, Budva joined the Socialist Federal Republic of Yugoslavia until Montenegro became an independent country in 2006.
That’s a lot of history for a town of 14,000 people. And it’s all on your doorstep when you take the private taxi boat from the jetty to the Old Town. The development itself sits on the Zavala peninsula, consisting of 32 buildings divided into 202 apartments. As you will see, the clever layout means that almost every property has a sea view and an open aspect. Apartments range from 82 square metres to a gargantuan 544 square metres and the emphasis is firmly on quality. Only a personal visit can convey the ‘no expense spared’ mindset of the people behind this project.
Apartments in this development are sold with your own choice of kitchen and bathroom fittings from 4 ranges of high quality materials. Each apartment is equipped with a modern air conditioning system and Smart Home system, which allows you to remotely control the lighting, boiler operation and heated floors from wherever you are in the world.
There are no 1 bedroom apartments remaining available so at present the entry level property is:
Villa 31, Apartment S2
this delightful 136 square metre apartment is available at €715,000. There are no VAT reclaims available at this development, however there is an established rental scheme where you can receive 5% of the value of your property in annual rental income. In this case that would equate to €35,750 per annum, almost €3,000 a month.
Villa 29, Apartment A2
this is a larger 2 bed apartment with a living area of a generous 147 square metres. The apartment requires an investment of €900,000 and would bring in an annual rental income of around €45,000 or €3,750 a month.
Villa 34, Apartment A1
for those requiring a larger property, this 155 square metre residence offers 3 bedrooms and is completely finished and ready to move into. It is available at €1 million and would generate €50,000 a year in rental income. Compare that yield to a central London apartment which does not bring any residency or tax advantages to British citizens!
Villa 11, Apartment B3
for the most discerning of investors, this property is in the first line of the development with the most amazing views of the Adriatic and the Budva Riviera. Completely finished and ready to occupy, this lavishly equipped apartment has 158 square meters of living space and two large bedrooms. It is available at €1.35 million and would facilitate a rental income of €67,500 per annum.