Flats, apartments in Montenegro

In the capital of Montenegro, Podgorica, the average cost of housing is 1,683 euros per m² in new buildings and 1,150 euros per m² in the secondary market.

Real estate in coastal cities costs on average 1,445 euros per m². In popular resorts, real estate prices are higher:

in Budva - 1,838 € per m²;

in Tivat - 1,870 € per m²;

in Kotor - 2 025 € per m².

Yes, it is possible. There is no minimum housing cost. That is, you can buy real estate of any value and apply for a residence permit.

The Montenegrin citizenship program through real estate investment was closed on December 31, 2022. Now it is impossible to obtain Montenegrin citizenship through the purchase of real estate.

When purchasing housing on the secondary market, the buyer pays a tax on the transfer of ownership in the amount of 3%. When buying on the primary market, this tax is paid by the developer.

When buying an object in the primary market, VAT is paid in the amount of 21%, which is already included in the cost of the object.

The annual property ownership tax ranges from 0.25 to 1% of the cadastral value of the property (depending on the location of the property).

When renting out a property, the owner pays a capital gains tax of 9% on total income.

Compared to other European countries, the amount of utility bills in Montenegro is low. For example, utilities for an 85 m² apartment cost about 95 euros per month on average. Electricity is paid depending on the selected tariff. The cost at a fixed rate is 4.49 euro cents/kWh, at a differentiated rate - for the first 150 kWh - 4.84 euro cents/kWh, at night - 2.42 euro cents/kWh.

Montenegrin banks are very reluctant to issue mortgages and loans to foreigners. At the moment, only Erste Bank works with foreigners. In any case, to obtain a loan, you need to have a residence permit in the country.

Yes, it is possible, but only if you purchase real estate directly from the developer at the off-plan stage of the project. The payment plan is negotiated individually with the developer. For example, in Lustica Bay, the down payment is 15-20%, the rest is paid over 3 years.

Yes, they can. Any foreigner can buy a plot up to 5,000 m2 as an individual. For plots over 5,000 m2, it is necessary to open a company and make a purchase for it. For foreigners, the same procedure for buying a land plot as for locals. Read more about the terms of land acquisition and construction in Montenegro here.