He who buys expensive real estate saves his money, and he who buys cheap real estate saves his life. Top 5 properties in Montenegro for any budget
Investments in real estate are becoming so popular that now quite inexperienced players who want to save (and increase) their funds are coming to the market more and more often. Montenegro is one of their favorite destinations for buying both very cheap apartments and truly exclusive villas. One of Realting.com's journalists talked to the director of the Estate Monte group real estate agency to find out how to find «your» property and what to look for when trying to find an apartment.
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«Now the Montenegrin market is some kind of a market of extremes, it sells either the cheapest or the most expensive properties»
The director of the estate agency Estate Monte group, Sergey, is sure that the real estate market in Montenegro has recently changed very dramatically and positively:
— Now we can confidently talk about stable development — even against the background of the pandemic, our sales level has not fallen, and the rental level has even increased significantly. In fact, this is not surprising in general terms: a lot of telecommuting specialists work here, having been convinced mainly by the fabulous nature of Montenegro with its organic food to make a decision to buy or rent real estate. Despite the fact that in 2020 we had a completely disastrous tourist season, this did not affect investment activity, and in the face of several lockdowns, we successfully carried out remote transactions.
Currently, according to many analysts, Montenegro ranks second in the world in terms of growth in the construction sector, and for the next two years — 2022 and 2023 — additional investments in the construction sector of the economy in the amount of 800 million euros are planned.
The investment attractiveness of Montenegro is due to its soft taxation (compared to the rest of Europe and other countries), the country being a strong tourist destination, and, of course, its nature and clean products. In addition, Montenegro is one of those countries that offer investment citizenship (our company is an official partner of one of the three operators within this program).
Many foreign investors have made their appearance in the construction sector, especially from the Arab countries, Turkey, and England; there are many Russian-speaking developers from every corner of the countries of the former CIS. All this gives a feeling of firm confidence in the future of our profession, since the flow of tourists, who immediately turn into our customers, only grows from year to year.
The increased competition among investors and developers has led to increased control by the state of the quality of facilities under construction, and the rise of the «standards bar». At present, all along the coast and inland, residential properties are being built that meet the highest international standards, and we are very pleased to offer them to our customers who dream of spending the best years of their lives in this eternally young country!
The distribution of the price range among property buyers by geography can be expressed in the following format:
- high-luxury properties worth from 2 million euros are purchased by buyers from Ukraine and Russia, Canada, Kazakhstan, and from the Arab countries;
- luxury-class properties, costing from 500 thousand euros, are purchased by buyers from Austria, Germany, Ukraine, Russia, Israel;
- properties of the budget segment, worth up to 200 thousand euros, are preferred by buyers from the countries of the former CIS, Turkey, South Africa, and the local population.
They buy real estate in Montenegro in order to save capital, or to save «what they can». This applies to both moving and receiving passive income. At the same time, those who are interested in investments buy, as a rule, several properties at once.
In summary, I can say that most often buyers come to us from Ukraine, Sweden, Austria, Germany, France, Russia, Sweden, Canada, Israel, and Kazakhstan. There are, though not as often, buyers from the USA, and even Malta. And, if Russians most often buy housing for living, then Europeans prefer to come to Montenegro to work remotely or rent apartments to tourists.
Another interesting nuance: today, two poles of the market segment are in maximum demand — the most expensive and the cheapest housing. The middle segment of the market is slightly behind. At the same time, we are not including the secondary market in our concept of the cheapest housing, we are talking about new buildings, where we can offer installment payments of up to four years to our most socially vulnerable clients.
In a nutshell, I can formulate this so-called «polar» situation in sales as follows: he who buys expensive real estate saves money, and he who buys cheap real estate saves his life. But in any perspective, under any circumstances, our company is a reliable source of support for our customers — from the moment they begin searching and viewing properties until they obtain a Certificate of Ownership. We accompany the transaction — both legally and with our human participation, individual work with the Buyers, who, in the end, become our friends here.
Top 5 properties in Montenegro for any budget
— Montenegro provides a very wide scope of opportunities for the realization of your life goals. We face completely different requests from our clients, and our eight years of experience have given us a database of properties and connections among property owners and developers that allow us to satisfy the most demanding requests of clients with different wallets.
A new building in the village of Becici with an area of 60 sq. m for €68,000
In the resort village of Becici, a new building with a total area of 40 sq. m. is up for sale. For € 68,000, the seller offers apartments located in a building that is almost on the seashore — only 70 meters from the shore.
The residential complex was built in 2021. An outdoor pool, an underground passage to the beach, a restaurant and a cafe, a grocery supermarket, a large furniture store, and a medical center are planned on the territory of the complex. But the most important advantage of this property is that the stunningly beautiful shore of the Adriatic Sea is within walking distance. In the same building, you can buy an apartment of 43 sq. m. for €73,100.
An apartment in the village of Becici with an area of 30 sq. m. for €70,000
If you want to buy an apartment that is completely ready to move into, you can consider the option of apartments in the developed area of Becici. An apartment with a total area of 30 sq. m. is up for sale for €70,000- This home is equipped with all necessary furniture and household appliances and is ready to move in.
The apartment has been modernly refurbished and fitted with a kitchen. You can walk to the seashore, all the necessary social infrastructure is also within walking distance: shops, cafes, restaurants, medical centers.
An apartment in Budva with an area of 50 sq. m. for €150,000
In the resort capital of Montenegro, housing is usually more expensive than in small villages. Here, for €150,000, an apartment with a total area of 50 sq. m. is up for sale. This apartment is located on the fourth floor of a new building just 60 meters from the beach. The windows offer a beautiful view of the sea coast.
The apartment has been modernly renovated, and the future owner will only need to bring in furniture and household appliances. All the necessary infrastructure is within walking distance — there are many shops, cafes, restaurants, etc. in this area.
This option is a great one to invest in, as such accommodation options will always be popular among wealthy tourists who prefer comfortable and isolated housing on the first coastline.
An apartment in Kotor with an area of 120 sq. m. for €300,000
This apartment leaves an impression from the first seconds: from the windows of its terrace, there is a stunning view of the sea, which is adjacent to the picturesque mountain range. The apartment, which sells for €300,000, is located in the town of Kotor in a modern new residential complex.
The apartment consists of two bedrooms, two bathrooms, a living room with dining area and a kitchen. The highlight of this option is an open terrace with an equipped lounge area. The apartment is fully furnished, equipped with all necessary appliances, and ready to move into.
An apartment in Becici with an area of 125 sq. m. for €1,060,000
In the resort village of Becici, in addition to the middle price segment, there is also an offer of truly elite real estate. For €1,060,000, a one-bedroom apartment with a total area of 125 sq. m. is up for sale. The apartment has undergone a designer modern renovation that will suit even the most demanding buyer.
