Real estate in Montenegro

Buyer's guide

• Who can buy a property in Montenegro

  

  Montenegro does not allow foreigners to buy agricultural land, and forests, as well as own cultural monuments and real estate near the country’s borders. For the rest, foreigners have the right to buy and sell residential or commercial real estate, sell it or rent it out.

  Citizens and residents of Montenegro have no real estate transaction restrictions.

• Property prices by region of Montenegro

  

  Real estate prices in Montenegro increased by 3—7% in 2021 and by 15% in the last five years. The cost per 1 m² of real estate is fixed by the Statistical Office of the country: at the beginning of 2022, it is €1,445.

  The most expensive and sought-after properties are located in popular resorts in Montenegro: the price per 1 m² in Budva is €1,838, in Tivat — €1,870, and in Kotor — €2,025. The lowest prices are in Tusi: a property here can be bought for €622 per 1 m².

  Read the article

• Property purchase procedure in Montenegro

  

  Buying a property in Montenegro takes about three months. The investor chooses the property, signs a preliminary contract and makes a deposit: usually 10% of the property value. Then the parties sign the main purchase and sale contract in the presence of a notary. The document is sealed with the seal of the judicial authority of Montenegro.

  The investor transfers the remaining amount, and the seller issues a receipt for receipt of funds to the buyer. The buyer pays the necessary taxes and obtains a Certificate of Ownership from the local municipality.

• Property purchase taxes in Montenegro

  

  Buyers of real estate in Montenegro pay various taxes depending on whether they buy a new building or secondary real estate. When buying a new property a 19% value-added tax is paid. When buying real estate on the secondary market, there is a 3% transfer tax.

  Buyers also pay additional fees for notarial and legal support of the transaction: 0,02% of the value of the purchase and sale agreement.

• Citizenship of Montenegro for the purchase of a real estate

  

  Until December 31, 2022, foreigners have the opportunity to obtain citizenship in Montenegro, if they take part in the citizenship investment program.

  Conditions of the Montenegro Citizenship by Investment program:

  1. Buy a share worth at least €250,000 in a government-approved real estate project. These are resort complexes and hotels.

  2. Make a non-refundable contribution of €200,000 to the State Fund of Montenegro.