Real estate investment in Montenegro

Foreigners can buy and sell real estate or rent it out with few restrictions. Foreigners are prohibited from buying agricultural land and forests or owning cultural monuments and objects near the country’s borders.

The most expensive and sought-after real estate is in the resort areas of Budva, Herceg Novi, and Tivat.


Average price per 1 m²


Real estate investment for citizenship


Associated costs, of the property value

How the residential property price index is growing in Montenegro


Cost of a 3-bedroom apartment in Montenegro

€4 million

Penthouse in Budva on the first coastline

€1.2 million

Apartment in Budva on the first coastline


Apartment in Budva in a 10‑minute walk from the sea

Montenegro residence permit or citizenship by real estate investment

Owners of residential or commercial real estate can get residence permits. The value of the property does not matter. A residence permit is issued for a year with the possibility of extending an unlimited number of times while the property is owned.

Until the end of 2022, Montenegro has a citizenship by investment program. The investor buys a share of €250,000 in a commercial development project, a resort complex or a hotel and contributes €200,000 to a government fund.

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Practical Guide

Discover real estate market trends in 41 European countries

Taxes and associated costs

A guide about investing in real estate was prepared by our expert