The Monaco Of the Adriatic

Tivat Investment

Little is known of where the name Tivat originates, but it’s clear that the town of 14,000 inhabitants has been linked to some impressive European neighbors. It was part of the Republic of Venice from 1420 to 1797 and some Venetian buildings remain standing to this day.

The town developed rapidly in the second half of the 19th century when the Austrian Empire built a maritime base here for its fleet. This naval arsenal witnessed a revolt against the Austrians by local sailors in 1918 and was taken over by the Italians in World War 2. After the war it became a base for the Yugoslav People’s Army, and there are still two submarines and a maritime museum to remind you of Tivat’s naval past.

When I walked round the larger submarine I was surprised to see Mercedes engines and Decca radar equipment in a craft built in communist era Yugoslavia. However, a quick check of my history books shows that the West viewed Yugoslavia as a ‘half way house’ between us and the Iron Curtain so there was clearly some co-operation with Tito’s regime.

The base was bought by Canadian billionaire Peter Munk and developed into Porto Montenegro before being sold to Dubai investors in 2016. Our own little piece of heaven is on the other side of the headland looking directly out to Adriatic. The Marina Village is already fully built and operational, along with the marina and the hotel. Next to be developed is the town centre zone, Centrale, which will see shops, restaurants, a school and a medical centre being developed with the aim of encouraging year round residence.

Here are some examples of properties available now where you could be holidaying this summer:

Magnolia, Apartment E305

 

 

With a delightful view over the marina and waterfront, building E3 is part of the Magnolia area of the town. This is a 1 bed, 55 square metre apartment with an 8 metre terrace and a 40 square metre garden. This delightful holiday home is available at €372,000 gross before the 21% VAT refund.

Magnolia, Apartment E512

 

 

If you are looking for a slightly larger home, apartment E512 is on the first floor of building E5 and offers 75 square metres of living space and an 18 square metre terrace. Two bedrooms and two bathrooms make this an ideal investment for a family or for having all those new found friends come to stay when they realise you now own a holiday home on the Adriatic! This lovely apartment is waiting for you to occupy this summer and can be yours for €544,000 gross or €449,586 net of VAT.

Chedi Hotel Condominiums

if you’d prefer your holiday home to be part of a top branded hotel, there are a small number of 49 square metre condominiums remaining in the fully built and operational Chedi hotel. These can be entered in the rental pool to maximize your income when you are not in residence. The condos range in price from €297,000 to €330,000 depending on their elevation and orientation within the 5 story building.

Mimosa Town House TH1D

is you are looking for something grander with your own private pools, how about a 126 square metre town house with a private pool and a 60 square metre garden? With a lofty view across the marina to the ocean, these are among the most sought-after properties in the whole development. Just a handful remain, this one being available at €746,000 gross and €616,528 net of VAT.

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