Is it profitable to buy real estate in Montenegro today?
May 18, 2021
Many people want to buy housing in a resort country like Montenegro. It is especially popular among Russian investors, who rank first in the list of all foreign buyers. The most popular are objects on the coast, in the region of Budva, Tivan, etc. Why this region attracts Russian buyers so much, and whether such a purchase is profitable today - that will be discussed today.
Possibility of obtaining a residence permit
According to the legislation of Montenegro, all foreign investors who buy expensive housing in the country receive an official residence permit for 1 year. It can be renewed in the future.
The amount you need to spend to obtain a residence permit directly depends on the area in which the purchased house or apartment is located. For example, in the south of the country it costs around 450 thousand euros, in the north - 250 thousand euros. For such investors, another prerequisite is provided - a charitable contribution of 100 thousand euros should be provided to the State Development Fund of the country.
Affordable prices
Compared to prices in other resort countries of Europe the cost of housing in Montenegro is much lower. In the coastal zone prices per square meter of living space are:
- in the central regions of megalopolises - about 2.2 thousand euro;
- outside the center - 1700 thousand euro.
For a small two-room apartment you will have to pay about 55 thousand euro. In addition to the fact that this cost is lower than compared to many European prices, it is almost twice lower than prices in Moscow.
Large selection of objects
The real estate market in Montenegro is developing at a rather active pace so you can always find profitable options here. If you are interested in commercial real estate and the possibility of renting out your apartment, then you will be able to receive additional income - on average, it can be 5-7% per annum. It should be noted that rentals, especially among tourists, are in great demand in this country. The most popular are comfortable apartments and country houses.
