Nucleus of Montenegrin Luxury Lies in the Coastal Enclave Portonovi

Portonovi is a new high-end resort community on Montenegro’s Unesco World Heritage-listed Boka Bay.

The €828 million (US$1 billion) coastal super-development in Herceg Novi, built from scratch on the site of a former military base by Azmont Investments, has a D-Marin superyacht marina and Europe’s first One&Only hotel resort with a restaurant headed by Michelin star chef Giorgio Locatelli, a Chenot Espace wellness center and private beaches. It is designed to lure the global jet set, with property prices reaching up to almost €10 million.

The tiny Balkans republic of Montenegro has become a new, must-see European destination and its coastline on the Adriatic sea has changed dramatically in the past 12 years with the arrival of new developments that mainly cater to the high-end market. Porto Montenegro, a marina and residential development funded, in part, by Canadian billionaire Peter Monk and launched in 2008, was the catalyst for its reinvention.

Meanwhile, international visitor numbers have soared and hit record pre-pandemic levels, according to the Government of Montenegro website. Visitors include Victoria and David Beckham’s oldest son, Brooklyn, who is set to marry at the Aman Sveti Stefan resort outside Budva.

Montenegro’s coastal area, which has been dubbed as the new French Riviera or Monaco without the price tag for its ritzy resorts and unspoiled scenery, has a film-set worthy location, with its kaleidoscope of orange red terracotta roofs, green valleys and limestone cliffs, which reflect mirror-like into the calm, blue-green waters.

Boundaries

Portonovi lies on Montenegro’s northern Adriatic coastline. It sits at the entrance of the Bay of Kotor (or Boka Bay), which is formed of a ria (a drowned river valley open to the sea), and has the drama and scenery of a fjord. Picture tall limestone cliffs, green valleys and headlands, and crystal-clear waters.

The E65 road forms its northern border while the Adriatic Sea lies along its southern border. Its western edge is bordered by the coastal town of Herceg Novi, which has 15th-century origins, imposing fortresses and winding streets, while its eastern edge is formed of the E65 road.

Price Range

Portonovi has a total of 218 residences, including 50 rental properties, which are currently under construction. Studios start from €345,000; one-beds start from €550,000; two-beds start from €975,000; three-beds from €1.15 million; and four-beds start from €1.84 million. Sky Villas (duplex penthouse apartments), meanwhile, start from €7.95 million and One&Only private homes from €9.85 million.

Housing Stock

Portonovi’s 218 homes are spread across the Village Residences, Marina Residences, Sky Villas and the One&Only Portonovi private homes, and each one is different in size and the views they offer.

The 64-acre resort town has the look of a Mediterranean village, with low-rise waterfront buildings, home to apartments, shops (opened in 2019), bars and restaurants interwoven with landscaped paths, along with waterfront promenades, landscaped green spaces and a central square. Its architecture reflects that of the Adriatic coast and nearby historic towns such as Herceg Novi, according to Azmont Investments.

Though most homes at Portonovi have views of the water, Marina Residences are right on the waterfront and offer the best view of the sea and Boka Bay. The 16 penthouse flats, which are spread across the scheme, overlook the waterfront and feature private infinity pools, ranging from 26 square meters and 32 square meters, spacious terraces, private elevator access and panoramic sea views.

Though most homes at Portonovi have views of the water, Marina Residences are right on the waterfront and offer the best view of the sea and Boka Bay.

Article Source; Mansion Global