Montenegro is a picturesque country with a mild climate, clean Adriatic Sea and favorable conditions for living and investment. New buildings in Montenegro are especially popular because to obtain a residence permit (RP) it is enough to purchase real estate without minimum cost requirements.
Features of new buildings in Montenegro
In the tourist cities of Montenegro, there are strict requirements for appearance. New housing in Montenegro should be in harmony with the surrounding architecture, preserving the traditional style of the region. Therefore, much attention is paid to the appearance and architectural style of new buildings.
New buildings in Montenegro are distinguished by:
- Quality of construction. As in other European countries, developers in Montenegro use modern standards in the construction of buildings. New buildings are equipped with heat and sound insulation and are spacious apartments with panoramic windows and terraces overlooking the sea.
- Developed infrastructure. Real estate in Montenegro from the developer is built in areas with good infrastructure and includes parking, swimming pools, recreation areas and commercial premises.
- Flexible purchase terms. Developers are accommodating buyers and offer mortgages at a reduced interest rate and installments with gradual payment of funds.
Prices for new buildings in Montenegro
In Montenegro, you can find housing for any budget - from affordable studios to luxury villas on the first line of the sea. The average price of new housing in Montenegro depends on the region and class of real estate:
- Budva: from €2,500 per m2 (the most popular resort town).
- Tivat: from €3,000 per m2 (developed infrastructure and proximity to the airport).
- Bar: from €1,800 per m2 (a quiet town with good beaches).
- Herceg Novi: from €2,000 per m2 (ecologically clean region).
- Kotor: from €3,500 per m2 (historical center and scenic sites).
Nuances of buying real estate from a developer in Montenegro
New buildings can be sold both by private companies and by large international developers, so when buying an apartment, it is important to make sure that the property is registered in the cadastre and has no encumbrances.
Other nuances:
- Taxes and fees. The tax on the purchase of new housing is 3%, and when buying off-plan property in Montenegro, you can save on VAT.
- Registration for foreigners. Foreigners can purchase real estate without restrictions and even obtain a RP based on the purchase of housing.
Popular cities and regions of Montenegro for purchasing real estate from a developer
The country's landscape is heterogeneous, and coastal areas and cities are often in greater demand than inland ones - prices for new buildings in Montenegro are much more attractive inside the country and, as a rule, are 10-20% lower.
The most attractive places:
- Budva. The tourist center of the country, attracting investors due to high rental income.
- Tivat. A rapidly developing city with the elite Porto Montenegro complex, where luxurious new buildings are located.
- Bar. An ideal option for permanent residence, as prices here are more affordable for the middle class.
- Kotor. A historical city with a unique atmosphere, listed by UNESCO. Construction in the area of the city is limited and the choice of new buildings is not so great.
- Herceg Novi. A quiet city with an abundance of greenery, ideal for family life and secluded relaxation.
