Where to buy property if you want to live in the south of Montenegro?
Located on the Adriatic coast, the city of Bar is one of the most important tourist destinations in Montenegro. Every month hundreds of foreigners come here to enjoy the seascapes and to walk along the well-kept sea-front. Most tourists visit the city from April to October when the temperature reaches 30 degrees Celsius.
Similarly to other cities in Montenegro, Bar boasts many attractions. There are many ancient monuments, such as the King Nikola’s Palace or the Haj-Nehaj Fortress. The almost 2,000-year-old olive tree growing in the city is greatly impressive.
Who buys real estate in Bar and why?
Local housing is in high demand among European and CIS citizens. There are several reasons for this:
- purchased property in Bar allows to spend summer holidays in one of the most prestigious European resort cities;
- reselling a property can make good money. On average, annually, Bar villas and houses grow in value by 5-10%;
- property is easy to rent out.
What are housing prices in Bar?
Local property is estimated to be 10-20% cheaper than similar properties in Kotor, Budva, and other neighboring vacation cities. One can easily buy a seafront homes in Bar for €1,000-1,300 per square meter. Only luxury flats, houses, villas and high-end private cottages will exceed the price. Such houses in Bar will cost €2000-3000 per sq. m.