One of the largest ever investments in Montenegro, Portonovi boasts 214 residences for sale and 50 holiday residences for rent. Prices start from EUR345,000 for these recently completed apartments. In addition to apartments, the new village is home to restaurants, wellness facilities, a beach club, boutique shops, a world class marina operated by D-Marin and Europe’s first One&Only resort and Chenot Espace Wellness Centre due to open in 2021.
Spread across 26 hectares, with 1.8km of coastline, the residential village is interspersed with beautifully manicured gardens, sandy beaches, striking bronze water features and waterfront promenades. Positioned at the entrance of UNESCO World Heritage site Boka Bay, Portonovi, a visionary destination by Azmont Investments, is framed by dramatic mountains rising from the mirror flat Adriatic Sea.
The village sits on historic plains once a former military base. Today, this history is not forgotten with restored artefacts dating back to the 20th Century as well as a 16th Century Church.
Just metres from the Marina and close to the central square, Portonovi’s social hub, sits two fivestorey buildings which epitomise the best in marine living. These finely crafted studios, one, two, three and four-bedroom apartments incorporate modern touches but stay true to the surrounding heritage architecture of Herceg Novi. Designed by architects RTKL and Harper Downie, what brings them to life is their connection with water; each balcony and terrace providing vistas towards the sea while inside, natural materials from wood to metal combine for a sleek look. Materials used throughout feature classic Montenegrin craftsmanship, reflecting the surrounding architecture of the Adriatic coast and nearby old towns.
Ahmet Erentok, Chairman of Azmont Investments said: “Portonovi is a unique destination which blends the best of our Montenegrin and Mediterranean culture, lifestyle and heritage. Whether you are a family, savvy investors or professional wanting to explore the best of the Balkans, we’ve built contemporary homes to suit your lifestyle. Montenegro is considered a hidden gem by many but with our world class amenities and the arrival of the One&Only resort next year, Portonovi and this idyllic country will be on the international map. The Marina Residences offers you the chance to enjoy life on the new riviera.”
As Montenegro marches towards EU membership, foreign and EU-funded investment in the country has flowed. Almost EUR3 billion has been invested in the 10 largest coastal developments, giving this part of Montenegro the moniker “the next French Riviera”. This has caught this attention of high net worth individuals who are attracted to the country’s low corporate tax rate. According to Knight Frank 2019 Wealth Report, the number of UHNWIs in Montenegro is expected to increase by 36.1 per cent over the next four years.
Property transfer tax, inheritance and estate tax are set at a highly competitive 3 per cent. This transfer tax compares very favourably to many other parts of Europe like Portugal where the rate is 6.5 per cent and up to 10 per cent in Spain. Overall, tax regimes in the country are amongst the most competitive in Europe, with a rate of 9 per cent being applied to company profits, capital gains and personal income. Portonovi offers a unique Rental Programme for those wishing to attain an income from their waterfront investment. Guests benefit from a 24-hour concierge service, in-residence dining as well as an expert lifestyle team eager to assist with any queries or requests.
A Mediterranean Lifestyle
A community within this Mediterranean village, residents within the Marina Residences have everything they could possibly desire on their doorstep, from gourmet supermarket IDEA, fine dining restaurant Bloom, gelataria GODO, an Art Gallery, kindergarten, a bank, beauty salon, gymnasium and over 20 private swimming pools.
During the evening, Portonovi comes alive. Maison du Monde serves the finest French Cognac while Koffein which roasts the best coffee beans during the day transforms into an entertainment lounge with regular lives performances from jazz singers to DJ sets all against the stunning backdrop of the bay and mountains. The perfect setting for an evening meal or cocktail.
An all year destination, Montenegro is perfect for relaxing summers on the beach, hiking through the hills in spring and skiing during winter. You can also take partake in white water rafting along Europe’s deepest canyon, kayaking, mountain biking, scuba diving, sailing and kitesurfing.
Portonovi Beach Club and D-Marin Portonovi
The coastal way of life in Montenegro is relaxed and those living at Portonovi can take advantage of the Beach Club. Here, the chicest clientele recline on pristine white sun-loungers and hammocks perched on the natural sandy beach. Patrons can order ice cold Montenegrin beer, expertly mixed cocktails using premium spirits and tasty light lunches. During the evening, the catch of the day is served while the sun goes down. The maritime offering continues with D-Marin Portonovi. D-Marin is a leading global network with 14 marinas in the Mediterranean and the Gulf, offering a premium service and experience to maritime and yachting enthusiasts from all over the world.
D-Marin Portonovi Marina has capacity for 238 berths for yachts up to 120m long. The Marina offers a choice of entry points and a sheltered position at the entrance to Boka Bay, serving as an inviting stop-off point for superyachts and those wishing to explore the Mediterranean and the Dalmatian Islands.
Unique to patrons is a special Membership Card which offers discounts and rewards at retailers across Portonovi. Residents can also use the duty-free fuel stations while amenities include electricity supply, showers and a laundry service. The border cross at Portonovi allows yacht owners to pass customs at the resort if sailing in from Croatia.
Underground car parking is available for almost 500 vehicles and there is use of electric car charging points to encourage green modes of transport. While water is a relaxing entry route via the marina, no matter where you are in the world Portonovi is easily accessible. The resort is a 45 min drive from Dubrovnik International Airport which offers direct flights from the UK, Germany and Dubai in season. Throughout the year there are also connecting flights from the US, Europe and the Middle East, while nearby Tivat Airport offers regular flights from Russia and Ukraine. The resort also has a helipad for those preferring private charter.
Studios from: EUR345,000; One Beds from: EUR550,000; Two Beds from: EUR975,000 and Three Beds from: EUR1.15 million; Four Beds from EUR1.84 million and Sky Villas from EUR7.95 million. Tel: +382 31 353 375 / Email: firstname.lastname@example.org / Web: www.portonovi.com