Property Buyers Guide
Places to buy property
Offer your property
LUX APARTMENT WITH MARVELOUS SEA VIEWS!
Prodaje se dvosoban stan u Kotoru!!!
One room flat in the center of Sutomore with the view at the sea
Real Estate Companies
Proper Property Monte d.o.o.
Property & Travel
Sveti Stefan Real Estate
Invest Montenegro Real Estate
Official website of National Tourism Organisation of Montenegro
Montenegro informations, pictures etc.
Official website of Montenegro Airlines.
Website about Sveti Stefan with news, service infnormations, accomodations.
May not be the nicest site but the project is extremly interesting and they are looking for investitors.
Property Buyers Guide
Compering to some other european countries Montenegro real estate market is still somewhat undeveloped. in 2006 Montenegro got its name into most desirable property markets in Europe.
Montenegro real estate prices can vary greatly, the property owners often got very subjective in judging the value of their properties under the pressure of wide spreading news about intensive rise of property prices . It may happen you to find two properties next to each other - one underpriced and the other incredibly overpriced. But, the time when far-sighted investitors were grabing land and stone ruins in bad condition for couple of bucks are definitely gone. If that was your intention you better off save for travel costs - you are late with that idea. But, in all fairness it must be said that it is very possible to buy a good property at good price and make some nice profit as an outcome. Or, buy a property as a personal holiday resort.
Typically the prices depend of demand, locality and quality. Stone houses in Kotor Bay could be bought for anything between 50,000 and 400,000 euro with some exceptions for large stone houses at the water and with stunning surrounding - those can go well above 1 milion. Prices for apartments and flats are generaly from 1000 to 2000 per m2 in Budva, Kotor and Petrovac, slightly lower in Herceg Novi and higher in Sveti Stefan.
For a foreign to successfully aquire montenegro property their country of origin must have reciprocal agreement with Montenegro. Luckily most of european countries do have such an agreement with Montenegro including UK, Ireland and Russia. Foreigners are allowed to buy and own the property registeded on their name, just like Montenegrin citizens, there are no differences. The only legal restriction forbids foreign citizens to own a bare land, however by registering a limited company in Montenegro it is completly possible to own a plain land as well. This law is going to change soon and there will be absolutely no differences between Montenegrin and foreign citizen when purchasing property is concerned.
The actual process of buying a Montenegro property is very easy. Two main conditions has to be fulfilled: legal entitlement to the property and the registration of the property with the official Property Registry. A contract has to be signed between property owner and buyer and the signed contract has to be verified by a court.
After the court verify the document (contract) a legal basis of ownership is established. Purchase Tax is 2% of the property valuation which is given by the nland Revenue Office. Last thing after the payment has been made, the contract has to be given to the Local Property Registy as en evidence. Than a property will finaly be registered to new owners name.
What to be careful about
You should double check who the property belongs to. Properties in Montenegro can be split amongst several owners. For the decades people really didn't care much about the actuall ownership structure for their properties and once when they decide to sell a property their close relatives may claim the rights on the property. The best thing to do is use a service of a registered real estate agency which will provide you with a lawyer to check the cadastre documentation and prevent possible problems. Most Montenegro real estate agencies do not have their own lawyer but instead use a servise of indipendent lawyer. It doesen't really matter, as long you got a lawyer service. Better not try to find owners and negotiate the price - the prices can suddenly skyrocket when they see you are a foreigner. If you stay in Montenegro for few days you will likely meet people offering you all kind of properties even having big property listings to carry around. Those people are not professional real estate agents. There are many, many people in Montenegro who do an "intermediary" work for agencies as an additional income. . For you that only means more expensive properties.
Montenegro Estate search:
Searchable listing of hotels in Montenegro with pictures and informations
+381 82 670 960
Official website of Airport Tivat.
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