Russians named the largest group of property owners in Montenegro

According to the Minister of Economic Development of Montenegro, Russians are the largest owners of real estate in the country, and in 2020 they began to buy even more housing in this country, despite the pandemic. $100 million - that is the amount of direct investments in housing and commercial facilities from Russian investors.

The main reasons for such popularity of real estate in Montenegro among Russian citizens are:

• cultural similarity;
• pleasant climate;
• convenient geographical location - 2 hours from Moscow by plane.

What are the prices for housing and commercial objects in Montenegro today?

Another factor that attracts foreign investors, including Russians, is the rather low prices for residential and commercial real estate. Today the rates are:

• an apartment in the country can be bought starting from 15 thousand euros (the average price is 400 thousand euros);
• house can be purchased starting from 20-25 thousand euros (average cost - 400 thousand euros);
• cost for hotels and hotel complexes start from 500 thousand to 25 million euros;
• a cafe can be bought starting from 38 to 850 thousand euros (depending on the region and the size of the object).

As for land plots, both small budget options at a price of 7 thousand euros and large land plots in popular regions are available, and for that some investors will have to pay up to 75 million euros.