After the stunning Boka Bay, we are introducing you with the central area of Montenegrin coast and the Capital of Montenegrin tourism - Budva. This medieval city is more than 2,500 years old, making it one of the oldest settlements on the Adriatic coast. Budva is based in the central part of the Montenegrin coast, the area surrounding the city is called the Budva riviera. The city might be small but it is the most popular destination in all of Montenegro, and it is no wonder considering it is a centre for sightseeing and cultural tourism, but also a place with vivid nightlife and plenty of beaches. Extensive archaeological evidence places Budva among the oldest urban settlements of the Adriatic coast. Substantial documentary evidence provides historical references dating back to the 5th century BC. A legend recounts that Bouthoe (Βουθόη - Vouthoe) was founded by Cadmus, the founder of Thebes, Greece, when exiled out of Thebes, finding shelter in this place for him and his wife, goddess Harmonia. The Old Town of Budva is situated on a rocky peninsula, on the southern end of Budva field. Archaeological evidence suggests that Illyrian settlement was formed on the site of the Old Town before Greek colonization of the Adriatic. The entire town is encircled with defensive stone walls. Originally, there were gates on all of the four sides of the walled city. However, sea-facing gates were closed up over the years. The main city gate is Porta di Terra Ferma, the grand entry to the city from the west. It is also the beginning of the city's main thoroughfare, Njegoševa Street.A large public square is located to the north of the citadel, containing all of the churches of the old town - St. Ivan Church (17th century), Santa Maria in Punta Church (840 AD), St Sava Orthodox Church (12th century) and The Holy Trinity Orthodox Church (1804). The Budva Riviera has some of the most attractive beaches of south Adriatic, and the most pleasant climate in Montenegro. Among the cultural events and establishments in the city, the annual cultural event Theatre City (Budva Grad Teatar) is of particular importance. Founded in 1987, and held in July and August every year, this festival transforms the entire Old Town into an open-air venue for a programme of theatre, musical, literary and visual art events and performances. Budva Carnival is a three day long festive event in Budva, happening annually during late April or early May. It has been organized every year since 2003, and although a recent carnival, it has attracted significant regional attention. Budva, together with nearby Kotor, was host to the Federation of European Carnival Cities (FECC) World Carnival City Congress in May 2009. Budva seems to lead a double life – one in the old, and the other in the new part of the city. Bordered by the high ramparts and decorated with the architecture, dominantly Venetian, the Old Town guards historical and cultural treasures – Roman necropolis and an altar, antique pylons, pre-Christian basilica and many churches. It contains the open and boiling stage of the “Theater City”; literature evenings and concerts at the Poet’s Square, and exhibitions in the city gallery take place every summer. Outside the old town, the new city is expanding and the number of inhabitants is rising. The Budva Riviera has sandy, stone and pebbly beaches, and those that once belonged to the royal family. There are beaches with reddish, colourful or grey pebbles. Some of them have stepped into the sea, some are sheltered by the small bays, some are exposed to the sun, and some are protected with thick pine-tree shades. Some are facing the islets. But behind each of them, there is at least one fishing village lurking, ready to provide private accommodation. Budva is a city that is awake until dawn and where no one sleeps for too long. One of the largest Night Clubs is located in Budva and it was awarded for best global nightclub in 2012, as voted by the Monaco International Clubbing Show – Top Hill. Beside the amazing sound system and large capacity The club itself is perched 600 metres high on top of Toplis Hill with unbelievable views of the horizon of the Adriatic sea and it is one of the largest open air clubs in Europe. An intense nightlife, beaches with various activities, big water park in the hills and luxury hotels at the very seaside make the holiday here worth staying awake for. The city of theatres and summer festivals, has a vibrant real estate market, for your enjoyment in the safe, attractive environment of stunning scenery and luxurious hotels, classy restaurants and the charm of Mediterannean hospitability. The excellent conditions for buying a property in the Montenegrin metropolis of tourism are second to none. Besides staggering annual rental return of the investment at a stable rate at 6-12%, a successful investment in real estate in Montenegro is lucratively accompanied by the Property Purchase Tax at the rate of “only” 0% if the property is purchased from a developer and favourable 3% tax rate if the property is purchased from a natural person.