Real estate in Budva — the benefits of buying a residential property for foreigners
House-buying in Budva is a promising option for your investments. The ownership of a small studio enables to obtain a residence permit or permanent residency, and in the future — a full citizenship in Montenegro.
What attracts foreigners in Budva
Foreign investors are attracted by:
- favourable property prices;
- low taxes on the purchase and maintenance of apartments, houses and commercial premises;
- high level of business safety (according to the «Doing Business» rating);
- the opportunity to earn on residential property rental during the long tourist season (that starts from mid-April and lasts until the end of October).
The local Government is loyal to foreigners and does not impose restrictions on buying real estate.
Residential real estate in Budva: where to hunt for luxury apartments and cheap flats
Commodious villas with designer interiors, penthouses and two-bedroom apartments with sea views are the most expensive in Budva. Good quality two-bedroom apartments should be hunted for in Rosin and Dubovice. These areas are remote from the sea but have an advanced infrastructure with medical facilities, schools, kindergartens and shops. Budget one-bedroom flats are located in the city outskirts.
When the prices for apartments and houses in Budva raise
Analysts hold the view that a leap in housing prices in Budva will occur after Montenegro enters the EU. Since 2010, the country has the status of a candidate and fulfills all the requirements of the European Union. The final reunification is expected to happen no later than 2025. So, if you buy real estate in Budva now, you can invest upon and in the next 5-6 years get a solid profit at reselling.