Russians are massively buying real estate in Montenegro

In the first six months of 2021, the demand for housing in Montenegro among foreign investors has grown significantly. During this period, Russians bought 36% more properties than in the first 6 months of 2020. The main reason for such a boom is the opportunity to obtain citizenship of the country by investment. Considering that this program will most probably be closed on December 31, 2021, all those potential investors who had previously only looked for suitable properties became more active and began to actively conclude deals with developers and owners.

Conditions for obtaining citizenship by investment

To obtain a passport of Montenegro, investors must fulfill several conditions:

• buy real estate that meets the requirements in terms of price (for the northern regions of the country - from 250 thousand euros, for the southern regions - from 450 thousand euros);
• to contribute 100 thousand euros to the state fund.

Experts predict that the peak of activity of foreign investors will be at the end of September and later in October, November and December. During the holiday season potential buyers often come to Montenegro for vacation purposes, combining it with tours of suitable properties. And after that, closer to the middle and the end of autumn they make the final decision on the purchase of the chosen property.

Why do Russians choose Montenegro?

Montenegro is not the only country to offer residence permits or citizenship by investment. Similar programs are present in many European countries. However, Russian investors often choose this particular state for a number of reasons. One of the main ones is that housing prices here are lower than the average for Europe. In addition, the country has a favorable climate, and its cultural traditions are in many ways similar to Russia.