Pricing real estate accurately, especially if you are preparing to make an offer on a new property that caught your eye, comes with a particular set of challenges. It can be especially dire when you need to factor in the current global events that often shake consumer confidence and put a standstill on investments.
However, properties in prestigious locations like the ones in Portonovi won't take a nosedive and are still worthwhile investments targeted to keep their maximum value that will only continue to skyrocket despite the rough economy and real estate market. Historically, property prices have an upward trend despite the occasional fluctuations in the global economy, but to get an entirely accurate picture of your future home value, here is the list of factors that severely influence it.
1. Location, Location, Location!
Every realtor will tell you that the location of your property is an essential factor that influences its value. Where is your future property located – in Portonovi, an up-and-coming tourism destination craved by many? Is it by the beach or in a village? Is it surrounded by restaurants or shops or in a more calm area? These details, including proximity to various amenities, can dramatically affect its value. Other smaller factors closely tied to location – such as local climate and weather, area safety and low crime rates, transportation options, walkable neighborhoods, and availability of open spaces, walking trails, and parks - also influence the desirability and price. Indeed, a property in Portonovi that offers an excellent standard of living will be more expensive. Within the Portonovi Marina and village are numerous restaurants and cafés, high fashion stores, a gallery, and the first One&Only in Europe, including the Chenot Espace Medical Wellness & Spa. All of these significantly raise the value of your future property.
2. Home Size, Space, and Layout
Next in line are the details of the property - square footage, age of the property, and features. Does your property have several balconies overlooking the marina? Is there a pool in the backyard or on the terrace? Besides square feet, the value of your home is also determined by usable space, and additional bedrooms, walk-in closets, and bathrooms can significantly increase the value. Moreover, outdoor entertainment areas are also in high demand as they add to the elevated lifestyle that people are craving. And don't forget about the potential advancements you can add to your property. If, as a home-owner, you continually improve the home, the property will be deemed more attractive by potential buyers.
3. Age and Condition
Getting better with age is the adage that doesn't come true when it comes to property – here, the newer the property is, the more buyers are willing to pay for it because it doesn't need significant renovations and investments. This is why homes in Portonovi are currently in high demand and are considered worthwhile long-term investments. Besides being situated in the superb Boka Bay, an up-and-coming destination, the properties are also made of high-quality materials; it immediately transfers to higher value because they help the property heat and cool more efficiently, adding value and appeal. Also, when owning a property in Portonovi, make sure to complete regular yearly home maintenance inspections – because, in that way, you'll consistently maintain the value of your property.
4. Upgrades and Updates
Continuous upgrades and updates to your property can significantly increase the value of your home, primarily if you are investing in tech upgrades. Having tech-friendly properties – home automation, security system, recycling systems - is significant, as it can increase the property's desirability. Also, consider other upgrades you can make, which will be excellent long-term.
5. The Portonovi Factor
Last but not least is the "Portonovi Factor"- the main reason you need to own this property. People are raving about this place and are willing to pay the premium because they know they will get their money's worth. On an area of 26 hectares, the Portonovi offers more than 200 residences for sale or rent, ranging in size from studios to four-bedroom apartments and villas. In addition to the residences, within Portonovi there is a world-class marina, which can accommodate up to 238 vessels of various sizes.
Available properties are split between the Village Residences, the Marina Apartments, luxurious Sky Villas, and One&Only Private Homes. Each has its own identity, yet all share the essence of Portonovi, with ample space to relax, socialize and entertain – and easy access to the site's many cafés, shops, gyms, and bars.
Turn a dream into a reality and take the next step. Our Portonovi real estate is designed by world-class architects who blended the Village Residences, the Marina Apartments, Sky Villas, and One&Only Private Homes into surroundings, respecting both the environment and Mediterranean style.
Whatever you choose, investing in Portonovi real estate will be one of the best decisions you've made.
Fill out the form to register your interest or arrange an on-site viewing.
While some of you are cozying up for the festive season with your loved ones, others are looking for a destination worth their visit.
This summer, Portonovi was the place to be on the Montenegrin coast. It will retain its status during the festive season as well. The resort is not active only during the summer, but different cultures, styles, traditions, entertainment, and cultural programs throughout the day make it vibrant and appealing all year round.
The Meditteranean… Not only is it a cradle of civilization and a melting point of various cultures which gave birth to world-renowned philosophers, but it is also a unique European region. Due to the weather and specific climate with hot, dry summers and humid, cool winters, the Mediterranean harbors vibrant biodiversity with numerous species you won't find anywhere else. No wonder it attracts so many visitors who happily dive into the old civilizations wanting to catch the elusive feeling of the past times.