Montenegro, as being a very young country has been attracting people all around the world who are interested in moving, working and living here. It’s become an attractive destination for being centrally located in Europe. The country has a wide access from and to other countries in Europe which is an advantage for business people. Although in Europe, and although using Euro as the currency, Montenegro is cheaper than the other European countries for both living and travelling.
Loads of once tourists have become residents in Montenegro by taking the advantage of buying properties. Again comparing with other European countries, Montenegro is more affordable than the other countries in Europe.
There are more other advantages like the low property tax which varies between 0.1% and 1% in Montenegro, the residence permission you get after you buy a property no matter how much it costs which means you can stay in your home as long as you like. There’s also huge potential of tourists who would be interested in renting your property if you like while you are not using it and you can do that with paying 9% corporate and capital gain taxes.
Montenegro, after becoming an independent country in Balkan region, has been a member of NATO and getting EU membership soon.
It is easy to get to Montenegro from all around the world. There are two international airports in Podgorica and Tivat. There’s also a possibility to reach Montenegro from Dubrovnik Airport which is about an hour away from Kotor.
And the climate! It’s maybe not the priority but a necessity and a benefit. It’s mild in winters and warm in summers which makes it a heaven to live in all year round.
Within the options of properties in Montenegro there are the apartments which are the most popular investments as they are easy to let out and maintenance free unless they have shared pools; and the villas in your own privacy with a garden and maybe a sea view!
On the Bay of Kotor, the most popular and therefore expensive cities to buy a property are Kotor and Budva. Tivat and Herceg Novi are mid-range, Bar and Ulcinj are the lowest as they are popular in summer but kind of deserted in winter. When you go towards inland, Zabljak and Kolasin are very popular whereas Podgorica, the capital isn’t as popular as the coast. If your main reason to invest in a property in Montenegro is to use it as a summer house or let it out to tourists then coastal cities should be your choice. But if you think of doing business, travel around quite often and need to be central then Podgorica should be your choice for being the capital city and having an international airport which is about 9km to the city center.
When buying a property there’ll be some expenses like the lawyer’s fee, the real estate agent fee paid by the seller, notary fees paid by the buyer, 3% transfer tax paid by the buyer. You’re advised to have a good real estate agent and a lawyer who you can trust as they’re going to check all the documents when you are buying a property.