Investors buy seaside properties to come to the country for holidays. Some investors rent out properties and earn extra income.
Property prices in Montenegro have been rising steadily in 2021, with home values in the country increasing by 28.7% in the first quarter, according to Global Property Guide, an online property portal.
Rental income from property in Montenegro varies between 4 and 6% per annum. However, the average cost of renting a three-bedroom apartment is €564 per month, according to Numbeo.com.
is the average rental price of a three-bedroom apartment in Montenegro
The cost of renting in different cities in Montenegro
The cost of renting an apartment depends on the region of the country. The country is divided into 24 regions or communities. The most popular holiday destinations in Montenegro are Budva, Herceg Novi, Kotor, Bar and Ulcinj. These are the main resorts of the country.
The cost of renting an apartment varies depending on the region of the country. The most expensive options for renting accommodation – in the north in Bijelo Polje and in the resort areas of Tivat, Kotor and Budva. The table below shows the prices of apartments in major cities in Montenegro.
Average cost to rent a three-bedroom apartment in Montenegro
|
|
---|---|
Bijelo Polje | €1200 |
Tivat | €850 |
Kotor | €833 |
Budva | €667 |
Podgorica | €583 |
Niksic | €533 |
Bar | €487 |
Herceg Novi | €388 |
Cetinje | €300 |
Igalo | €300 |
Kolashin | €300 |
Plevlja | €300 |
Jabliak | €180 |
Data source ― Numbeo.com
Why investors buy property in Montenegro
How to obtain Montenegrin citizenship by investment
To obtain Montenegrin citizenship, an investor fulfills two conditions: makes a non-refundable contribution of €100,000 to a state fund and buys a share or apartments in government-approved projects. It is allowed to sell the property after five years.
Real estate investment options
if the property is located in northern or central Montenegro, except for the capital city, Podgorica
if the property is located in Podgorica or the coastal arearnof Montenegro
The Montenegrin citizenship by investment program is for three years, 2021 being the last year. Participation in the program takes from 6 months, but there is still a possibility to apply before the end of the year.
Examples of investment properties
One or two bedroom apartments in the Boka Place residential complex in Tivat. Price - from € 295, 000. Rental income - up to 3% per annum
Share in a five-star Dormitor Hotel & Villas in Zabljak. Value - from €250,000. Rental income - up to 8% per annum
One-bedroom apartment in a five-star Montis mountain resort hotel in Kolasin. Price - from €250,000. Rental income - up to 3% per annum