Real estate in Montenegro

Interest in real estate of Montenegro is traditionally high. Montenegro, being part of Yugoslavia, for a long time was fenced off from investors from capitalist countries with an iron curtain, the fall of which largely revived the situation in the real estate market. At first, investors were limited to buying real estate in the secondary housing market, which needed overhaul. But years later, the situation changed, modern residential complexes and villas were built in Montenegro that meet all European standards that are still in the focus of investors from Russia and the CIS countries.

Interest in this country on the shores of the Adriatic Sea is due to a number of reasons. Among the first, its successful location, picturesque nature, soft and even climate, as well as the environmental purity of resorts should be noted. Who will refuse to buy a house in Montenegro, on the coast, where palm trees, cypress and olive groves, cedars, vineyards, kiwi and grenades grow?

Buying real estate in this country for our compatriots is also popular in view of the lack of a serious language barrier. The Croatian language belongs to the Slavic language group, so there are no special problems in communication from buyers from Russia and the CIS countries. The procedure for registering a transaction in state structures takes place without bureaucratic delays, which is also an undoubted plus. But, nevertheless, it is better to entrust the routine procedure to specialists to avoid pitfalls. Owners of real estate and land in Montenegro, unlike a number of European countries, use the benefits of taxation. The proximity of Montenegro to Russia (3 hours on an airplane), an established year -round message and the absence of the need for Russian citizens to receive an entry visa also stimulate the growth of investments in Montenegrin real estate.

Well, perhaps the most powerful argument in favor of buying property in Montenegro is its affordable price. Despite the fact that in the period from 2003 to 2008, prices rose by almost 300%, real estate in Montenegro is more affordable than in a number of European countries. Non -residents of the country can purchase houses and apartments in the secondary market, residential complexes with infrastructure and point development facilities. The only restriction is the purchase of land. According to the country’s legislation, only a legal entity has the right to purchase land for construction. Also, non -residents do not have the right to buy a house with a site. When the transaction is concluded, the land is transferred to him not in the property, but unlimited lease.

Crisis made its adjustments to the real estate market of Montenegro. However, since 2010, prices began to grow slowly, but, nevertheless, today they are still far from pre -crisis indicators. Investing in real estate of Montenegro today, of course, will not bring such fabulous profits that could be obtained earlier due to speculative investments, but, nevertheless, such investment is considered more than profitable. If we take into account that in the high season the prices for placement in Montenegro hotels are prohibitive, purchased real estate can bring good income by leasing. Most tourists who come to Montenegro prefer the private sector to hotels, and willingly rent villas, apartments or just rooms. At the same time, the owner himself does not have to be in Montenegro at that time at this time. All concerns are taken by the management company, which rents real estate, pays utility bills, taxes and settles all other affairs. But in fairness it should be noted that the Institute of Management Companies is developed in Montenegro not like in Europe.

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