Buying Real Estate in Montenegro
Montenegro is attractive for many reasons. It is certainly a place that you must visit. But buying real estate is a different case. If you are here, you may be wondering what it would be like to own a property in Montenegro. What are the advantages of owning real estate here?
Down here we are answering this question. Let’s have a look at the awesome advantages that you will experience when you have a property in Montenegro.
Perhaps it is needless to mention if you know Montenegro, but one of the best things here is the perfect Mediterranean climate that you will experience here.
By having real estate here, you will be able to enjoy the hot summer and perfect beaches easily. The gorgeous autumn of the Adriatic Sea Coast and the spring of the Balkans also meet here. So, if you hate the weather you have in your current location, Montenegro is a perfect place to escape.
Compared to most of the Europe and Balkans, Montenegro allows you to get a property for much cheaper. Prices in Kotor and Budva average around €2,250 per square meter. This price is almost half of what you would pay in Dubrovnik, which is a neighboring Croatia city that is quite similar to Kotor and Budva.
Even when you compare less touristy cities Montenegro offers better prices for similar features. In Tivat, where one of the most luxurious locations in the area with its huge yacht marina, the property prices average at €1,800 per square meter. This is much lower than the prices in Croatia’s similar city Split, which are €2,334 per square meter on average.
On top of these lower property prices, the taxes that you will need to pay for owning a property are also quite low in Montenegro. Here, The Property Tax is only between 0.1% and 1%, depending on the market value of the property.
Residence Permit in Montenegro
When you buy a property in a country, you would want to be able to stay there as much as you want. Good thing is that Montenegro allows you to do this.
In Montenegro, you can residence permit if you own a property in the country. And unlike some other countries that offer similar ways to get a residency, here there is no minimum property market value that you need to be worried about while buying a property. You can just pick a real estate that you can afford and enjoy living in it.
Montenegro has one of the fastest-growing economies in the Balkans. Tourism is the biggest sector that feeds this development. Each year the tourist counts increase by almost 20%.
Owning a property in Montenegro allows you to benefit from this popularity. You can easily rent your property when you are not using it yourself. If you want to sell your property for profit in the future, the capital gains tax, which is 9%, is also lower than what you would have in many other places.
Also, Montenegro is a good place to start a company if you have business plans. Not only because the country’s economy is growing, but also because the corporate tax here is one of the lowest ones in Europe at only 9%.
Thanks to its central location traveling to other countries from Montenegro is super easy.
Although it is a small country, Montenegro has two established and popular international airports. One of them is Podgorica Airport is near the capital of the country. The other one, Tivat international airport is just a few minutes away from Tivat center, and under 30 minutes from both Budva and Kotor.
Thanks to these two airports Montenegro has flights from and to all around the world. Moreover, these flights take quite a short. To fly from the farthest end of Europe to the UK takes under three hours from here. And there are quite affordable flights. For example, you can fly to Tivat from the UK for under €60.