Montenegro's booming property sector has led to the country becoming one of European leaders in terms of foreign investment.

Minister of economic development Branimir Gvozdenovic said that the influx of direct foreign investment in 2007 totalled more than one billion euros.

"If one considers the fact that more than 50 per cent of foreign investment is directed towards the real estate market and construction of objects, one understands the scope of financial effects in the field of building and other comparative activities," he added.

Mr Gvozdenovic also said that the main economic policy goals of the administration concern eliminating barriers to investment through the creation of favourable legal framework.