Real estate in Montenegro is the most suitable investment of funds, which is well known among experienced investors. Purchasing property abroad is a profitable move, especially now, when real estate in many European countries has become relatively affordable after a hurricane or a global crisis.
At the time of acquisition, the investor can comfortably rest in the country where they own the property and transfer management to a trusted party to receive additional, reliably stable income. Therefore, considering their preferences, the buyer always carefully studies the country and the location where they wish to purchase property. The key factors when choosing a property are:
- the climatic conditions of the area where the property is situated;
- the amount of one-off investments;
- the simplicity and speed of the property registration process;
- the prospects for earning additional income and the potential amount.
Real estate in Montenegro is profitable.
Demand for real estate in Montenegro has started to grow. Why are many attracted to investing in real estate in Montenegro? There are several reasons for this:
Montenegro is a unique place on the Adriatic coast. The climate is mild. It's almost always warm and sunny. The coastline of Montenegro extends about 300 kilometres. The water temperature ranges from +12 to +26 °c For seven months a year; the water is remarkably clear, with visibility sometimes exceeding 35 meters. The country enjoys more than 300 sunny days annually; its nature is diverse and beautiful. The holiday season lasts nearly the entire year—Property prices are attractive.
The cost of real estate is significantly lower compared to prices in Spain, Italy, and other countries along the Adriatic coast. The government is welcoming to those interested in purchasing property. The process is straightforward and transparent. Demand for properties in Montenegro is increasing, and tourism is flourishing, providing a steady income for investors. When purchasing real estate, owners are granted a temporary residence permit. Both individuals and legal entities can buy property without restrictions. Once registered, the property owner becomes a resident of the country. Properties can be rented out or used under employment conditions. Foreigners pay the same taxes on structures and land as citizens. When buying property, the owner also acquires rights to the land the building stands on (whether a house, villa, or cottage). Both legal entities and individuals pay a one-time duty and annual property taxes. This is one of Montenegro's notable advantages. For approximate estimates of costs, the following market prices per square metre can be used: secondary accommodation - € 1100-€1200/m²; new constructions - € 1500-€2000/m².
Local features for visitors from abroad
When purchasing real estate in Montenegro, certain restrictions are not burdensome. For example, individuals can buy plots of land up to 50 acres (5000 m2). Land parcels designated as Forest or farmland are not available for sale to foreign nationals. Properties are acquired with the existing structures, which must be capitalised and recorded in cadastral documents rather than being under construction. These restrictions do not apply to legal entities. Registering a legal entity in Montenegro is straightforward. Legal entities can acquire land with any status; the only exception being cross-border areas.
Procedure and fee for finalising this deal
Sale deals are usually completed in court. For two months, lawyers, tax service employees, and inspectors check the transaction's validity, assess the property's market value, prepare property documents, and determine the amount of tax payable to the state. The one-time tax for the deal is 3% of the property's value. This tax must be paid within 15 days. The registration fee for notarising court documents and registering the property in the cadastral system is 0,01%. Additionally, the buyer will pay 0,025% of the property's cost if purchasing newly built housing, and a one-time tax of 17% of the property's value applies.
Where should I begin?
Who wants to buy real estate in Montenegro? You don't need to do everything yourself. Monterenta.ru is your friend in Montenegro! We will provide all the necessary services. The website www.monterenta.ru posts expired classified ads for properties, including details and valuation, as well as a list of services offered by specialist companies.