Digital currency transactions boom in Montenegro

Montenegro's real estate market is experiencing a surge, witnessing substantial multimillion-euro transactions facilitated by affluent foreign investors utilizing digital currencies. The absence of regulatory constraints on cryptocurrency transactions adds to the allure, portraying the government as welcoming to crypto.

In the scenic Rezevici village, six villas are enticingly priced at three million euros' equivalent in Bitcoin, and in the charming Prcanj town, a villa is available for 2.2 million euros, open to cryptocurrency acquisitions. Despite the regulatory void, significant real estate transactions have seamlessly occurred in digital currencies, underscoring the sector's resilience.

The Central Bank cautions about potential risks, emphasizing the pivotal role of trust within blockchain technology. Foreign buyers dominate the market, drawn by geopolitical shifts. Companies report an upswing in demand for cryptocurrency payments, primarily from foreign buyers from Russia, Ukraine, Cyprus, the UAE, Israel, and the US.

The European Commission expresses reservations about the unregulated crypto market, yet despite regulatory uncertainties, property sales in crypto are on an upward trajectory, reshaping Montenegro's real estate landscape in distinctive ways.