Montenegro Investment: A new apartment development, The Blue Horizon, on the Mediterranean coast of Montenegro, is being launched off plans through Lisney Overseas Residential in the first week of October.

Developed by Celtic Properties, the scheme consists of 86 one and two-bedroom apartments overlooking Przno village and the sea beyond.

Prices start at €139,000 for a one-bedroom unit and €190,000 for a two-bedroom.

The development will have landscaped gardens, palm trees, tiered swimming pools and a waterfall. There is a walkway to the beach and to Przno village.

The Blue Horizon is between the old town of Budva and a 14th century fishing village turned luxury hotel, Sveti Stefan.

Montenegro, bordering Croatia to the south and Serbia to the north, has adopted the euro as its currency and hopes to join the EU after Bulgaria, Croatia and Romania.

Flying time is just under three hours to either Dubrovnik or Tivat from Dublin.

Lisney is offering a five per cent discount to buyers who buy an apartment at The Blue Horizon in the week beginning October 6th.

The properties are due to be ready by June 2007.

Celtic Properties, the developer of The Blue Horizon, is based in Co Cork.