Real Estate in Montenegro
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Vacation property as the most attractive offer for international real estate investment in Montenegro.
There is constant demand for vacation property attractive for international real estate investment; what changes is the geography of purchase and sale. Often international real estate investment is made with the aim of further reselling or renting the vacation property. Besides, vacation property for sale has become the main acquisition of international real estate investors, which can be explained by the fact that international real estate investment into vacation property can be a profitable undertaking along with the opportunity to acquire your own accommodation for summer vacations - your own vacation property. Real estate experts notice the growth trend in international real estate investment market of vacation and other property for sale. This year houses, villas, restaurants, hotels, cottages and other vacation property in Spain, Germany, France and other European countries appeared on the international real estate investment market. The lowest price for deluxe vacation property there is USD 400.000.
Vacation property market of Montenegro for international real estate investment stands out favorably against this background from the point of view of potential international real estate investor. Since tourism has always played the main role in Montenegro's development strategy (in fact, this is the primary source of the state's income), the principal part of the real estate market offered for international investment is constituted by vacation property, aimed at tourists and holidaymakers. If you have decided to make international real estate investment in Montenegro, you have to be aware that prices depend on the vacation property location and closeness to the sea; generally, vacation or commercial property for sale, located relatively close to the sea (starting from 150m), costs about 900-1000 EUR per square meter. Commercial and vacation property for sale located at the very seaside will cost more than 1000 EUR per square meter. The price usually increases if the villa, house, flat, hotel or other vacation property has been recently built or renovated, has its own beach, ground area or/and a berth. Needless to say, that perfection has no limits (neither do the prices) and the first class vacation property within a prestigious area may cost about 2000 EUR per square meter, not to mention special reservation areas, where the price for vacation property is even higher.
Western Europe has always considered Montenegro a vacation place attractive for international real estate investment, especially into vacation property. This must be the reason why since 1998 European Reconstruction and Development Agency has invested more than 73 million EUR into various projects in Montenegro, and for the last 14 months 48 new projects have been taken up with their cost totaling 37 million EUR. Montenegro, and Littoral in particular, has turned into a giant building site, where all kinds of vacation property are being built. Also restaurants, cafes, bars are constructed and offered for international real estate investment everywhere.
Perhaps you would also like to join the Montenegro international real estate investors' ranks, solving, at the same time, the problem of vacation property for your family and friends. A villa, a house, a cottage or other vacation property on the Adriatic coast will also prove useful when you start considering a cozy place for spending your pensioner time enjoyably.
The law allows foreigners to make international real estate investment into commercial or vacation property in Montenegro without any hindrance. The procedure of purchase and sale is not complicated and takes a couple of days only. Our international real estate investment experts will assist you with drawing up the necessary documents and register the purchase or sale of vacation property. At the registration of the purchase and sale contract the 2% purchase tax should be paid. Real estate tax is rather low and does not exceed 100-200 EUR per year for a flat with the area of 90 square meters. The tax on renting real estate is symbolic indeed.
We have selected some references for you, which provide insight into international real estate investment, vacations and vacation property.
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