As a teenager in 1950s Ohio, Roger Penske bought old cars, repaired them, and sold them for a profit.
Today, he’s the billionaire owner of Penske Corporation.
If you follow IndyCar or NASCAR, you probably know the name Team Penske.
Penske owns the Indianapolis Motor Speedway, home of “The Greatest Spectacle in Racing,” the Indy 500.
He also owns a $120 million superyacht called PODIUM (named because of his love for racing, I suspect).
I mention all this because right now, PODIUM is moored in Porto Montenegro, the state-of-the-art marina 10 minutes from the newest real estate opportunity I’m bringing members of Real Estate Trend Alert…
What’s a racecar driver from Ohio doing in a $120m superyacht in Porto Montenegro?
It’s kind of amazing to me that an American billionaire, once a young car nut from Cleveland, is now summering in a superyacht in little Montenegro.
But then I shouldn’t be surprised because this was the plan all along…
When Montenegro gained independence in 2006, the then-prime minister shared his plans to transform his country into “one of the world’s most elite tourist destinations…better than Saint-Tropez.”
That’s exactly what’s happening, and the best place to see the transformation for yourself is to tour the luxury marina towns around the Bay of Kotor.
I did this in person a couple of years ago. Now I’ll take you on a virtual tour of the three most stunning marina towns in the Bay of Kotor, and show you a handful of dream homes there.
Remember, tomorrow (Wednesday) at 1 p.m. ET, I’m opening a brand-new Real Estate Trend Alert members-only deal right in the heart of the Bay of Kotor.
If you haven’t joined RETA yet, click here now or risk missing out.
Porto Novi: The $1 Billion Super-Development
for Celebrity Vacationers
Porto Novi is a billion-dollar super-development around an hour from Tivat Airport and the old town of Kotor.
Porto Novi is a new high-end resort in the Bay of Kotor. Built from scratch on a former military base for $1 billion.
The 64-acre super-development is styled after a Mediterranean village…
Waterfront with low-rise buildings, a mixture of bars, restaurants, stores, and residences around a central square.
There’s also a marina with 238 berths for yachts up to 400 feet long.
It’s not surprising the ultra-elite hotel chain One&Only opened its first European resort in Porto Novi.
One&Only is a place where celebrities like to be seen. One of the Jonas Brothers was recently vacationing in the Porto Novi One&Only and letting the world know via Instagram.
The cheapest room available this weekend is going for over $2,100 per night…
Think that’s a lot?
Private homes at One&Only sell from over $10 million.
Fortunately, there are more affordable options for you…
According to Porto Novi’s official website, property prices start from about €320,000 for a studio in Marina Residences, all the way up to over €6 million for a penthouse in Sky Villas.
Here’s a couple of listings I found online…
Sure, $2.6 million is a lot of money, but in Saint-Tropez you could pay the same for something one tenth the size and without a view.
Luštica Bay: Bringing Golf Back to
Montenegro After 122 Years
While Luštica Bay has a marina, it’s also about to become the “home of golf” in Montenegro…
Luštica Bay Marina claims it’s “every boat owner’s dream,” but with its longest berth only 150 feet long, it’s not every boat owner’s dream…
Jeff Bezos’ $500 million Koru is 417 feet and that’s a minnow compared to some other yachts sailing the Bay of Kotor.
But what Luštica Bay lacks in berth-size, it makes up for in architectural beauty.
The buildings have stone walls and red terracotta roofs, just like the traditional houses you see scattered on hillsides all along the Adriatic Sea.
There’s also a lovely lighthouse at the end of the promenade where you can sit with a cold drink and take in your stunning surroundings.
What makes Luštica Bay truly unique is its planned golf course…
Golf was introduced to Montenegro in 1906 but disappeared shortly after because of the First World War.
Now, it’s set to be reintroduced in 2028 (122 years later!) with The Peaks Golf Course & Residences at Luštica Bay.
To say I’m excited, as both a golfer and real estate investor, would be a serious understatement.
The course is being designed by Gary Player. The South African is one of the greatest to ever play the sport. He might be an even better course architect.
I had a blast playing the Gary Player Signature Golf Club El Cortés in La Paz, Mexico (about two hours drive from Cabo San Lucas) and can’t wait to see the finished course in Luštica Bay.
But removing my golfing visor and putting on my real estate investor’s hat…
Of course, golf courses mean big money.
I’m a golf addict. I know golfers are willing to spend big for the chance to play new and beautiful courses.
Golf is an expensive sport. Players are typically deep-pocketed. A study by the Irish tourism board found a golf tourist is worth THREE times as much as a “normal” tourist.
Plus, having a golf offering extends the tourism season. In Antalya in Turkey they now have “12 months of tourism” thanks to golfers.
Since The Peaks will be the first 18-hole golf course in Montenegro, it has a prestige no other course can ever replicate.
It’s a strategically brilliant move by the developer behind Luštica Bay because real estate near golf usually means premium pricing…
Condos at The Peaks start from €740,000. Townhomes and villas will also become available, and likely cost much more.
Remember there’s a marina at Luštica Bay too, where condos are available from €508,000.
Porto Montenegro: Gigayachts Welcome…
Porto Montenegro serves a unique niche of boat owner…
Unlike Luštica Bay, the marina at Porto Montenegro is being built with really, really, really big yachts in mind…
It all started in 2007 when frustrated Canadian billionaire Peter Munk couldn’t find anywhere to park his superyacht.
Monaco, Portofino and usual places were too busy and too small.
So, he began transforming an old Soviet port in newly independent Montenegro into a state-of-the-art marina for superyachts.
Munk wanted to create a “New Monaco,” but with moorings for Titanic-sized yachts!
It’s why Porto Montenegro is now home to the world’s biggest boat slip at 820 feet long.
Build it and they will come!
In 2012 the Saudi royal family moved their luxury “Golden Fleet” from Nice in France to Porto Montenegro on a 30-year lease.
In 2021, Porto Montenegro was officially declared the “World’s Best Superyacht Marina.”
Roger Penske’s PODIUM is parked there right now.
Now the area surrounding the marina looks more like Rodeo Drive in L.A. than an old Soviet port.
There’s high-end shopping, with Valentino and Lamborghini stores.
Go to a French café there and your croissant might have been flown in from France.
While real estate is incredibly expensive, for the multimillionaires and billionaires coming to Montenegro, it’s a bargain compared to what they pay in the French Riviera, Tuscany and the like.
Take a look…
Follow the Money, BUT…
While these marina towns of Montenegro offer incredible value compared to the old riviera towns of the Mediterranean, they’re still objectively expensive.
I’m not paying over $750,000 for a one-bedroom apartment on a golf course when I can buy something similar nearby—with easy access to the golf course—for half the price.
That way you get all the benefits of these marina towns, without the hefty price tag.
That’s why I’m so excited about the new Real Estate Trend Alert members-only opportunity in Montenegro. It’s in the absolute perfect location, 10 minutes from Porto Montenegro, 10 minutes from Luštica Bay and an hour to Porto Novi.
And of course, it’s only around five minutes from Kotor’s old town.
It’s a rare combination of lifestyle and opportunity…a place you’ll enjoy spending time at yourself, and a place you can easily rent because of its prime location.
But if this sounds like something you’re interested in then you need to hurry because this deal opens at 1 p.m. ET tomorrow.
If you haven’t joined RETA yet, click here now or risk missing out.
Ronan McMahon, Founder, Overseas Dream Home & Real Estate Trend Alert
P.S. To underline what an incredible deal this is, here’s what the developer has planned after my RETA group gets in first at our exclusive, off-market pricing…
- Within 10 weeks of the RETA launch the developer’s planning a 15% increase on the RETA pricing.
- Within a year of the RETA launch it’s a 30% increase on the RETA prices.
- All told over the build period the developer plans a 70% increase on the RETA pricing.
We may never find a deal in Montenegro like this again…
To join RETA and ensure you don’t miss out, click here now.
Your Daily Dream Home
Vasles, Poitou-Charentes, France
This charming three-bedroom property is located in a quiet hamlet, just five minutes’ drive from a village offering essential amenities including a bar/restaurant, butcher, pharmacy, bakery, supermarket, and weekly market.
It features a covered entrance, kitchen, utility room, dining room, lounge, and three bedrooms. The property includes outbuildings, a stone workshop, a garden, and a meadow.
Vasles is a small commune located in the Deux-Sevres department in western France, part of the Nouvelle-Aquitaine region. Despite its size, Vasles has a bar/restaurant, butcher/delicatessen, pharmacy, bakery, and a small supermarket. There’s a weekly farmers’ market on Tuesday mornings.
