Montenegro will have a new president after Jakov Milatovic beat incumbent Milo Dukanovic in a landslide victory, taking 60.1 percent of the votes in the second round of the election. 

Dukanovic conceded defeat late on Sunday at his party headquarters. And almost instantly, as soon as the news hit the media, celebrations started on the streets of Montenegro's capital Podgorica. 

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People drove cars through the main city streets, waving flags, and honking car horns. The joy of majority was obvious everywhere. 

At the headquarters of the Europe Now party, the party leader addressed the citizens for the first time as the president-elect.

"Tonight is the night that we have been waiting for, for more than 30 years," Milatovic said. "And godspeed to this victory for all of us."

Many opposition leaders joined him on the small stage to show support. Prime Minister Dritan Abazovic was there, to back the political direction of the new president, which includes more collaboration with its neighbors and a push towards EU membership.

"This evening, Montenegro made a decisive step forward. It said goodbye to this obsolete regime of Mr. Dukanovic, and made a step forward towards the richer, more just, equal, prettier, and European Montenegro, and godspeed to us!" said Milatovic.

While his supporters celebrated at Europe Now, at Dukanovic's DPS the atmosphere was somber. Yet in his final address, Dukanovic was dignified in defeat.

"Montenegro made its choice, and I respect it," he said in his address. "I congratulate Jakov Milatovic on the trust he received in the election. 

"I wish for him to be a successful president because if he's a successful president, that might mean that Montenegro will be a successful nation and it will continue to go toward its goal."

Dukanovic's term will end on May 21. Many in the country say that it was marred with alleged corruption and organized crime scandals. The allegations most likely cost him the election.

Yet the political unraveling is still not completely finished in Montenegro, as the country expects a snap parliamentary election on June 11.

But now, as Montenegro has a new president, many here feel that it is the end of an era, as Dukanovic leaves after 33 years in power as either prime minister or president.

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