How to buy an apartment in Montenegro

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In recent years, real estate by the sea has become increasingly in demand. Many foreigners are considering buying an apartment in different regions of Montenegro . A country with a warm climate and excellent environmental conditions attracts investors and emigrants from everywhere.
Our agency will help you purchase an apartment in Montenegro, with information on how and where it is better to choose an apartment. Below we will tell you about the procedure for buying a home, taxes and additional expenses.
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New flat in Sutomore 100 m from sand beach
  • New building
Flat ID=808
  • Balcony
Flat ID=808


  • Rooms 3
  • Area 63 m2
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What are the advantages of buying an apartment in Montenegro

Montenegro has a visa-free regime for tourists from many countries. By buying an apartment in this country as a residence for the summer holidays, foreigners can freely visit this warm country without applying for visa documents.
Buying an apartment in Montenegro has other advantages:
  1. In this developing European country, there are relatively low prices for real estate by the sea.
  2. Promising business opportunities - an apartment can be rented to tourists, receiving rental income.
  3. You can move here for permanent residence, issue a residence permit on understandable terms, and organize a commercial business in any resort town of Montenegro.
  4. The country has loyal rules for investors.
  5. Small expenses for housing maintenance.
  6. The country should soon become a member of the European Union. If you get a residence permit and subsequently apply for permanent residence, you can become a full citizen of Europe.
  7. In large and resort towns of Montenegro, infrastructure and transport are well developed. Educational, medical, banking institutions work, etc. You can move to this country with the whole family, get a job, and give your children an education.
  8. There are a lot of useful and natural farm products in the country, which you can always buy at the nearest market.
  9. An apartment in Montenegro can be resold profitably in a few years, making a profit from the transaction.
  10. A hospitable population, which will simplify adaptation in a foreign country and allow you to make new friends and acquaintances quickly.

Types of apartments in Montenegro

Montenegro's real estate market offers many apartments of different layouts.
Types of apartments:
  • apartments from the developer in new residential complexes;
  • apartments on the secondary market with modern renovation;
  • inexpensive apartments for renovation from a private owner;
  • studio apartments that can already be furnished;
  • luxury apartment villas near the beach;
  • apartments in class 5 hotels*;
    luxury penthouses with elevator or entrance, and having an entrance hall, dressing room, and three bathrooms;
  • equipped apartments with furniture and household appliances.
  • commercial premises or apartments on the ground floors for an office or a store with its land plot.

There are many options. Upon request, each buyer will choose an excellent apartment for purchase on our website, counting on an affordable budget and personal preferences.

Where is it better to buy a house in Montenegro

Apartments in resort towns and villages of Montenegro are in the greatest demand. Buyers purchasing housing for moving with permanent residence may also be interested in the capital city of Podgorica, which has a well-developed infrastructure, convenient transport interchange, and rich cultural life.
Where can I buy an apartment:
  1. Budva is the country's most popular and expensive city. Apartment prices are average along the coast. A great option for buying a home for investing.
    Tivat is a quiet and cozy city to live in. Apartment prices are the highest.
  2. Bar is a port city with lower housing prices than Budva.
  3. Becici is a picturesque resort village, a good place for permanent residence. There are a lot of vacationers here in the summer season, but there are opportunities to make good money in the tourism business. In other seasons, a quiet and peaceful atmosphere prevails in the village.

Other popular resort towns in Montenegro where you can buy an apartment are Herceg Novi, Igalo, Genovici, Kumbor, Prcanj, Kumbor, Perast, Stoliv, Radovici in the area of Lustica peninsula, Kotor, Cetinje, Rejevici, Sutomore, Ulcinj.
Suppose an apartment is purchased for permanent residence, and you are interested in the most affordable options for the cost. In that case, you can consider real estate in the central part of the country, located far from the coastline.

The cost of apartments in Montenegro

The prices of flats in Montenegro are ambiguous and start from 55 thousand euros. The cost depends on the object's location, the condition of the house, the apartment itself, the number of floors, equipment, and other nuances.
A small studio apartment in the port city of Bar can be bought for 50 thousand euros. A renovated and furnished one-bedroom apartment in Budva will cost 80-100 thousand euros. For a spacious apartment in Petrovac with an area of over 100 m2 with repairs and equipment, you will have to pay 180-220 thousand euros. You can also buy a cozy 4-room apartment in Becici in a complex with a swimming pool and good repair for 350 thousand euros. All current offers for selling real estate and apartments in Montenegro can be found on our website or via contact details.

The procedure for buying an apartment in Montenegro

Registration of transactions for the purchase and sale of real estate in Montenegro is carried out by a notary in the presence of a lawyer and an interpreter. The buyer cannot independently prepare all the documents to execute the contract check for encumbrances and property documents. However, foreigners should still use the services of our experienced realtor, who will help them understand all the nuances of registration in detail.
How the transaction goes at the notary:
  1. Drawing up a preliminary contract with a deposit for an apartment of 10%.
  2. On the day of the transaction, at the appointed time, the buyer and seller sign a contract of sale, which is notarized. Each party receives one copy of the contract. The third remains with the notary.
  3. The purchase and sale agreement specifies the exact deadline for depositing the remaining funds for the apartment. The buyer pays to the seller's bank account within the specified period.
  4. After receiving the money, the seller writes a receipt with a notary, after which the third copy of the contract is sent to the Cadastre.
  5. In the Cadastral Center, the documents for the apartment are reissued in the name of the new owner.
  6. The buyer is issued a Certificate of ownership.

Taxes and other expenses

According to the laws of Montenegro, the real estate tax is paid from the purchase of an apartment. It is 3% of the total cost for the purchased object. The buyer receives the notification for payment from the notary within 30 days of signing the contract. Fifteen days are allotted for the tax payment from receipt of the notice.
Additional expenses for the purchase of an apartment in Montenegro:
  • payment for realtor services;
  • for legal support;
  • for translation services.

Is it possible to mortgage an apartment in Montenegro?

It is quite difficult for foreigners to get a loan for real estate in Montenegro.
There are only two options:
  1. Apply for a cash loan in your country.
  2. Apply for a mortgage in the Montenegrin bank Erste Bank. However, foreign citizens with a residence permit and a permanent job in Montenegro with registration under an employment contract can only obtain approval.

To apply for a mortgage on an apartment in Montenegro, you need to submit a list of personal documentation to the bank, as well as a certificate of income for three months. All documents must be translated into Montenegrin.