Romania

The second-home market in Romania was very limited until 2020,says Monica Barbu,CEO,Romania Sotheby?s International Realty Most buyers are looking for move-in ready homes about two to three hours from Bucharest,Barbu says A hunting chalet in the Retezat Mountains with three hectares of land (approximately 75 acres),a stone fireplace,and deer-horn chandeliers is currently listed for EUR?23 million

?We?ve also seen more requests for investment properties in tourist areas,such as properties with vineyards with potential for developing lucrative businesses,and traditional rural or historic properties in the Transylvania area,?Barbu says

The highest demand is for resort homes,such as mountain properties in the Prahovei Valley and seaside properties in several Black Sea resorts,she says There are waitlists for prestigious historic homes and manors,especially in the small villages in Transylvania where King Charles III owns properties, she says Prices for second homes go up to EUR?3 million or EUR?4 million,Barbu says

The areas have become small communities of business people and entrepreneurs looking ?to recharge their batteries,?Barbu says

Most second-home buyers are Romanian,but they also come from France,Germany,the UK,Belgium,and the US, according to Barbu

?In comparison with the more mature markets,the prices are lower and the yields on all the real estate markets are better,?says Barbu ?Although the luxury market is at its beginnings,there is great potential and room for growth?

Montenegro

Montenegro,one of the smallest countries in Europe,has become a hot yacht market with its world-class Porto Montenegro marina and the country?s generously written legislation that provides a tax haven for yacht owners

In 2022,overall home sales in Montenegro increased by at least 30% in anticipation of rising prices,says Niko Lakovic, managing partner and sales manager,Montenegro Sotheby?s International Realty.

?Buyers are coming from the UK,the Czech Republic, Poland,Slovakia,Serbia,and the ex-Yugoslavia countries,? Lakovic says

Prices for waterfront homes can reach more than EUR?9 million,Lakovic says In fact,he recently sold a 257-square-meter apartment in Porto Montenegro for EUR?22 million

?Most buyers want units with all the services provided,such as a 24/ 7 reception desk,a swimming pool,a gym,facility management,and rental services,?Lakovic says ?People buying outside a resort usually want the property to be waterfront or have more land with a good sea view Homes that are furnished sell faster,too.?