Montenegro real estate

Real estate for sale in Montenegro

Home page

Houses and villas

Residential property

Commercial property

Waterfront property

Elite property

Beautiful Montenegro

Montenegro map

FAQ

Useful links

1. How long does your company work at the property market?

Our Agency is engaged in the sells of Montenegro real estate and provides legal representation and support for the clients during the purchase procedure. We are in business since 1992 and thus have good knowledge of the property market in the Montenegrin shore region and extensive database of property listings. We welcome the clients to visit our offices in the downtown of Budva for a tour to select a property.

2. Is the Montenegro real estate market buoyant or stagnant?

It is certainly buoyant due to great demand for commercial and residential property. Investors come from various parts of the world; among most active are the Brits, the Russians, and the Irish.

3. Does supply outweigh demand?

No, demand outweighs supply. This causes the constant price rise.

4. How have Montenegro real estate prices changed over the last year?

Annual growth of property price is approximately 20-30%. Some prices went up more, e.g. elite property, which cost US$ 1 500 per sq. meter three years ago, sells now at 2 500 Euro.

5. What building materials are used to create housing in Montenegro?

Mostly modern building materials. Quite often walls are plated with natural stone. This creates authentic Mediterranean coloring.

6. Any restrictions for foreigners to buy real estate in Montenegro?

The law allows foreigners to make international property investment into commercial or residential property in Montenegro without any obstacles. There are no limitations on the property size or the investor's nationality. Our Agency will be able to guide you through the whole procedure and provide any advice necessary for closing the transaction.

7. What is the procedure of buying Montenegro real estate?

The procedure of purchase and sale is not complicated and takes a few days only - when you find a property to buy we will prepare the paperwork (draft the Contract stipulating the terms) and guide you through to the final stage when the Sale Contact proving your ownership is certified at the Court. After that you are the owner of the property and can move into (submitting your documents to the Cadastre to formalize the title transfer). At the registration of the purchase and sale contract the 2% purchase tax should be paid. Our agency legal fees are 500 Euro.

8. Does one need a local bank account when buying Montenegro real estate?

Not necessary but it is advisable. It will not take any longer than half an hour to open a private account with a bank in Montenegro.

9. Who are the major mortgage lenders? What is the interest rate on borrowing?

The banks in Montenegro are not likely to grant a credit, especially to foreigners. Using a property as collateral is not advisable as the property will be evaluated at half of the market value. Usually a buyer is required to pay 100% of the property price at the purchase.

10. What is the typical cost of legal fees?

Our agency fee to check the property, prepare the paperwork and guide you through the purchase procedure is 500 EURO.

11. Are there any other relevant taxes?

Any pension income will be taxed at a rate of 2%. Due to the decision of Ministry of Tourism all tourist visiting Montenegro are required to pay tourist tax for every day staying in Montenegro. If you book a room at hotel this extra fee will be included in cost of accommodation, but if you will stay at private room, guesthouse or other kind of accommodation this fee will be also asked from you, but note that they rarely inform you about this charge before you get there. Tourist taxes are not expensive and range from 0, 5 to 1 Euro per day.

12. What are the typical levels of agents' fees across the country?

A few % of the transaction amount. We charge 3% only and receive it from the seller, so the buyer dealing with us buys at seller's price.

13. Do you have any future predictions of market growth?

Prices have been going up for the last 5 years and most likely the trend will remain the same for a few years more

14. Is there potential to rent out property? For short or long term?

Since tourism has always played the main role in Montenegro's development strategy (in fact, this is the primary source of the state's income), the principal part of the real estate market offered for international investment is constituted of vacation property, aimed at tourists and holidaymakers. Renting out property is the main business on Montenegro seashore, especially during the tourist season which lasts from May till the middle of October.

15. How do prices compare across the country?

Prices depend on the property location and closeness to the sea; generally, the price for vacation or commercial property for sale, located relatively close to the sea (starting from 150 m), begins with 2 500 Euro per square meter. Commercial and vacation property located at the very seaside will cost more than 3 000 Euro per square meter. The price usually increases if the villa, house, flat, hotel or other vacation property has been recently built or renovated, has its own beach, ground area or/and a berth. Needless to say, that perfection has no limits (neither do the prices) and the first class vacation property within a prestigious area may cost about 5000 Euro per square meter, not to mention special reservation areas, where the price for vacation property is even higher.

16. Are there areas that are particularly worth investing in?

All the ancient cities, attractive for tourists and, of course, seaside resort areas such as Budva, Sveti Stefan and Milocer, Tivat, Heceg Novi, Ulcinj, Bar, Petrovac, Risan, Kotor are very attractive for investing because of the growing interest paid by tourists from all over the world.

17. When is peak season?

Tourist season lasts from May till the end of October. Swimming season begins in the end of May and lasts till the middle of October. Peak season is from June till September.

18. Are grants available for people buying Montenegro real estate or moving to the country?

There are no grants for people buying Montenegro real estate or moving to the country.

19. What visas are required to visit or live there?

The visas for the entry and stay in Montenegro up to 90 days are abolished for all types of travel documents for citizens of the following countries: the Federal Republic of Germany, France, Italy, the Netherlands, Belgium, Luxembourg, Great Britain, Ireland, Spain, Portugal, Greece, Denmark, Sweden, Finland, Austria, Switzerland, Norway, Iceland, Monaco, Liechtenstein, Vatican, Andorra, San Marino, Israel, Cyprus, Malta, the Czech Republic, Slovakia, Poland, Slovenia, Lithuania, Latvia, Estonia, Croatia, the United States of America, Canada, Singapore, the Republic of Korea, Australia and New Zealand. The citizens of Albania, the Russian Federation and Ukraine may enter and stay in the Republic of Montenegro for tourist visits in the territory of Montenegro individually and in organized groups on the basis of a travel document without a visa.

Valid Passport
Letter of invitation (verified by the competent Serbia and Montenegro authority) or an invitation by a company for a business visit or a receipt or authorized tourist company certifying that the travel arrangement has been paid for (letter of credit or other payment receipt)
Return ticket
Proof of sufficient funds in hard currency and
Certificate that a health fund shall cover the medical costs in Serbia and Montenegro, if any

20. I a work permit required?

Yes, you must get a work permit to be able to work in Montenegro.

21. Any private medical insurance required?

Not required at the border although medical insurance is recommended for practical reasons.

22. Are pets allowed?

Pets are regulated according to international standards, if they have a valid passport and comply with the health department regulations.

23. What sort of houses are popular among foreign buyers?

Middle size houses up to 120 000 Euro or 2 bedroom apartments.

Home Houses and villas Residential property Commercial property Elite property Waterfront property Beautiful Montenegro Montenegro map FAQ Useful links