Briefly about the main Montenegro is a mild climate, clean, healthy air, high green mountains, crystal turquoise sea, friendly locals ... This is an opportunity to finally "slow down", enjoying simple things - the beauty of nature, a cup of fragrant coffee, birdsong, the sound of the surf. The Montenegrin real estate market is similar to the way of life of the state: it is characterized by a combination of traditional Mediterranean architecture - and the openness of modern investors to new ideas and concepts. Fantastic restoration projects of old stone estates, modern residential complexes with comfortable apartments, high-class mixed-use resort complexes, where housing can be used as a hotel fund or for personal use by owners - these are perhaps the main differences between the Montenegrin real estate market and other Balkan countries. The main thing that both people permanently residing in Montenegro and specialists in the real estate market pay attention to is that, regardless of the publications in the Russian media, which have been saturated in recent months, there have been no negative changes in the country. Here everything is also shining the sun, everything is also shining with azure sea, everything is also developing infrastructure. Montenegro retains the position of a state loved by international tourists and comfortable for moving to permanent residence. Current situation on the real estate market Traditionally, Montenegro attracts home buyers with the splendor of its nature, rich history, beautifully preserved ancient Mediterranean towns and a developing real estate market, in which more and more really high-quality properties appear. At the same time, developers take into account the fact that, on average, the budgets of real estate buyers have decreased, and therefore they offer apartments of a smaller area - and at more affordable prices. In Montenegro, objects of a high category are also being built, high budgets are being invested in the development of infrastructure. In general, the quality of objects and their rental potential are improving. At the end of 2015, a law was passed in Montenegro, which makes it possible to obtain an annual residence permit in the country when buying real estate of any value, with the possibility of its further extension. Unlike expensive “golden visas”, the costs are much lower, since a decent “family” apartment in Montenegro can be bought for € 80,000. Experts note that many Russian buyers resort to this opportunity, but in general, the program has not yet caused the excitement expected by the country's authorities. It is worth noting that obtaining a residence permit may be of interest to those buyers who plan to permanently reside in Montenegro, since when leaving the country for more than one month - or more than three months with the notification of the internal affairs bodies of Montenegro, the residence permit is canceled ... Currently, there is a change in the profile of the buyer of real estate in Montenegro - investments are gaining more and more popularity with the aim of renting out housing and generating income. The national composition of buyers is also gradually changing. In addition to representatives of Western Europe and Russians, buyers from Turkey and the Middle East have appeared on the market over the past year. The most attractive regions to buy Before you start choosing a region for buying real estate in Montenegro, it is worth determining the purposes for which housing is being purchased. Cities with a developed year-round infrastructure are suitable as a "second home" and moving to permanent residence, and resorts and historical centers of settlements as an investment in order to generate income. Tourism is one of the leading sectors of the Montenegrin economy. Therefore, purchasing apartments or villas for rent is a logical choice for an investor. And, although the entire coast of the country is popular with tourists, it is still worthwhile to better understand the regions. The most popular are Budva and the Budva Riviera, which includes Becici, Rafailovici and Petrovac. Tourists are attracted by the open sea, beautiful beaches, developed infrastructure and nightlife. They are also Old Towns and historical centers (in Budva, Herceg Novi, Kotor, Becici). Foreigners visit them all year round, regardless of the season and weather, etc. In Becici, the authentic fishing village of Rafailovici should be especially noted. The Bay of Kotor is extremely popular - both for "classic" beach and sightseeing holidays. Thanks to cruise tourism, Kotor is attractive for tourists, while in its Old Town apartment prices are much lower than in neighboring Dubrovnik, and the popularity of the place is steadily growing, which makes real estate here interesting in terms of investment. In addition, in the Bay of Kotor there are three largest residential projects in Montenegro - Porto Montenegro in Tivat, Portonovi in Kumbor, Herceg Novi, as well as the Lustica Bay tourist complex on the Lustica peninsula. Barskaya Riviera is another traditionally popular plThis is an important direction, but, unlike Budva and Kotor, this is a more budget option, both in terms of the size of investments and in terms of the income received. For permanent residence, first of all, cities are comfortable, although lovers of quieter places can also turn to resort destinations. For example, the Bar will provide all the necessary infrastructure for life in its usual Russian sense. The city has a well-developed healthcare system, excellent medical centers, several schools, and a modern sports complex. The bar is sparsely built up - and in the near future it will not be built up as fast as Budva. In addition to Bar, everyone who is thinking of moving to Montenegro should consider Podgorica, Herceg Novi, Igalo, Budva and Tivat. For permanent residence, comfort, opportunities for interesting pastime and entertainment are absolutely necessary. These famous Montenegrin destinations provide them in full to their permanent inhabitants. Subtleties of purchase The main advice that experts give to future owners of real estate in Montenegro is to apply exclusively to trusted developers and agencies with a serious portfolio and extensive experience in the market. Professional development companies are, first of all, successful, commissioned, inhabited residential complexes with a developed infrastructure, information on which is publicly available. Verified developers value their reputation very much and treat projects that meet the highest construction standards with full responsibility. They will be happy to show objects and provide all the necessary documentation for them. It is very important to come to the country and choose your own accommodation! Primary housing, like in many other countries, in Montenegro today enjoys more active demand from buyers. The exception is the Old Towns and historical centers of settlements, where secondary objects are also valued. Today, foreigners often buy apartments from developers on their own. For the transaction to be successful, you need to enlist the help of a professional notary and a good translator. During the conclusion of the contract, the notary will provide the buyer with all the available information on the object, possible risks, the presence or absence of the necessary documents and the consequences that this may entail. A translator who knows the law will explain everything to the buyer in understandable language - and he will be able to make a purchase decision. If we are talking about "secondary housing", then experts recommend paying attention to old stone houses for restoration - the end result is truly impressive, and the objects themselves keep in themselves history, unique warmth and comfort. As for transactions with land plots or houses located on them, here in Montenegro the situation is more complicated - and you definitely cannot do without the help of a professional realtor. Several years ago, a new construction law was passed in Montenegro, strictly regulating its quality standards. Since the adoption of this law, representatives of the sector have tried to strictly adhere to these standards, and most of the objects built in the last three to four years are structurally good, and their cost depends on the level of finishes and materials used. But you need to keep in mind that housing commissioned in 2006-2007 and earlier was often built without observing quality standards, so its acquisition may be associated with risks. Everything related to the quality of the object, property rights, as well as working documentation, building permits, payments for utilities by the previous owners, the presence of "unexpected" heirs - should be carefully checked, and a professional real estate agency will help to do this. Making a deal In general, the procedure for acquiring real estate in Montenegro is simple and straightforward, and the same for both Montenegrin citizens and foreigners. After choosing an object, it is necessary to leave a deposit with the agency (unless otherwise agreed), which guarantees that during the period of drawing up and discussing the contract, the seller will not sell the selected object to another buyer. The deposit is part of the price of the purchased object. After agreeing on the contract, the parties sign it in the presence of a notary, and within the specified time, the buyer transfers the final amount to the seller's account, and within about a month becomes the full owner of the property. It is highly recommended to contact an independent lawyer licensed to practice in Montenegro. The lawyer will represent the interests of the seller, conduct a preliminary examination of the documents, on the basis of which he will either approve the transaction, or, if deficiencies are found, will suggest steps to eliminate them, or recommend to cancel it altogether. He will also draw up a contract, taking into account the interests of the buyer, submit all the necessary documents for registration of real estate in the cadastre. It is worth paying attention to the fact that, according to the law of Montenegro, all expenses for the acquisition of real estate are borne by the buyer. Rates Experts note, hthen in recent years the real estate market in Montenegro has become more civilized, and prices have approached the most realistic. In areas where large resort complexes of a high category are being built, prices have remained stable. However, buyers' budgets have decreased, so developers are more open to negotiations, installments and different payment methods. When constructing new facilities, developers, taking into account the current situation on the market, are planning apartments with a smaller area, which brings its cost closer to the buyers' "wallets". Prices for objects located in less attractive places, as well as for objects of low quality, have dropped more noticeably. The most popular are properties ranging from € 100,000 to € 200,000, one or two bedroom apartments with good rental potential. Among luxury properties worth € 1-1.5 million, first line villas are popular. As for the average cost per square meter, the situation is as follows: On the Budva Riviera, prices have returned to normal, approaching how much residential properties are in reality. The cost per square meter in a mid-level property varies from € 1600/1 sq. m up to € 2000 / sq. m, and in facilities of a higher level, with high-quality finishing, smart home system, in an attractive area - from € 1900 to € 3500/1 sq. m. In the Bay of Kotor, the average price per square meter is higher, in particular due to the presence of such giants as Porto Montenegro, Lustica Bay and Portonovi. The cost per square meter in a mid-level property varies from € 2,100 to € 2,200 / 1 sq. m, and in facilities of a higher level - from € 2000 to € 2500/1 sq. m. In large premium complexes, the cost of a "square" starts from € 6,000. The most expensive housing in the Boka Kotorska Bay, as well as in Budva, is located in the Dukley Gardens complex. The most budgetary options can be found on the Barskaya Riviera. The cost of housing here has not changed much for several years - and after the crisis remained stable, there was only a slight decrease in prices on the secondary apartment market, but in general they were not overstated. Secondary properties are sold here on average from € 700 to € 1,800 per square meter. "Luxury" objects in the center can reach the cost of € 2500/1 sq. m. With regard to new housing, then when buying it, you should expect to spend from € 1,500 to € 1,800 per "square". Approximately the same prices exist in another popular destination - Igalo. As for the famous resort of Herceg Novi, so beloved by Russians, on average, real estate here is more expensive than in Budva. This is due to the high building density and the actual lack of new sites. At the same time, the areas that are located above the central highway turn out to be cheaper: here real estate can be purchased for € 1500-1800 per square meter. Estate-montegroup: The intricacies of buying a home in Montenegro.
