Why are more and more Brits buying properties in Montenegro?
If you are thinking about buying a property overseas, you probably already thought of Spain, Portugal and south of France.
Those are all great locations, with a short flight away from England, but did you know there is one more country that is 32% more affordable, with a great coastline and 3 hours away from London?
Where is Montenegro?
- Located between Croatia and Albania, Montenegro is a small Balkan country with 300km2 of coastline and 5 national parks. There are 2 airports in Podgorica and Tivat, with regular flights during the summer season for most of the bigger cities in Europe. Here are some interesting facts:
- It has 52 beaches
- The oldest tree in Europe is located in Montenegro. It is an olive tree that is 2000 years old!
- Montenegro is not in EU but their currency is Euro
- The deepest canyon in Europe is located in Montenegro
There is a direct flight from London during the summer season, with a flight that is less than 3 hours long, for the price of 60£! The country is not a member of EU, so the taxes when buying a property are much lower compared to EU countries.
Why would you buy a property in Montenegro?
The average price per sqm in Montenegro is around 2000€ and the price for the land is around 180€ per sqm. Compared to Spain where you can expect to pay more than 4000€, and we are not even going to mention prices in London.
In Montenegro, everything is more affordable compared to EU countries, and it is a very safe country to live in. You can go to the beach and leave your things on the towel without being worried that it might disappear. You can choose a variety of different sceneries, different beaches, old medieval towns, mountains and city life.
Can I legally buy a property in Montenegro?
One of the advantages of buying a property in Montenegro is that the process is very easy. You will only need your passport and the contract that you will sign.
The tax is very low, only 3% for ownership transfer if your property is both for under 150.000€.
If the value of the property is from 150.000€ to 500.000€ that tax is fixed 4.500€ + 5% on the value exceeding 150.000€. For the property higher than 500.000€ tax is 22.000€ + an additional 6% for the value exceeding 500.000€
After your purchase, you can apply for a residence card in Montenegro. Residence card is valid for 1 year and it is to be renewed every year.
Montenegro is a country, what city is the best to invest in?
It all comes down to your preference. If you prefer the beach then Tivat, Kotor, Budva, Bar can be great options. They are all close to each other, but quite different when it comes to scenarios that they offer.
If you prefer the mountains then you can choose from Kolašin, Žabljak and Plav.
As a property developer company, we know that your money will be worth more in the coastal area. Tivat is our favorite city, its the place where you will see the fastest return on investment.
The reason behind this is that construction in Tivat is planned, so there isn’t a lot of land to build on, and therefore the prices will continue to go up in the future.
A lot of expect live in Tivat, and therefore prices of rentals are also quite high. Studio apartments are rented for the price of 400€, 1 bedroom apartment is around 600 – 1000€ and 2 bedroom is around 1000 – 2000€.
You can also rent your apartment in the summer season on Airbnb and Booking and earn even more this way.
Who are we to talk about properties in Montenegro?
We are a property developer company run by Carine French/British citizen, who loved Montenegro so much that she decided to stay and start the company.
The company Mini Condos, with the idea of a minimalistic lifestyle, was established in 2008 and so far we finished 4 projects in Tivat, with the 5th one starting soon.
Our company sells properties but also does rentals, long-term and short term so you wouldn’t have to worry about anything, you don’t have to hire anyone, we take care of the whole process for you.
Here is a testimonial of your buyers, who are from London, and they used this opportunity 7 years ago. In this 7 years they were receiving rent from day one with our Lease contract and in that time their property doubled in value.
We offer a 30-minute free consultation for any questions you might have about buying a property in Montenegro.
You can choose one of the options, or contact us directly info@minicondos.me
+382 69 207 303 (WhatsApp)
