Bar Tivat Budva Petrovac Sutomore Bečići Dobra-Voda Zabljak Dobrota Kotor Podgorica Kolašin Krasici Susanj Herceg-Novi Rafailovichi Baošići Sveti-Stefan Risan Ulcinj Danilovgrad Igalo Prčanj Radanovici Čanj
A comprehensive guide to real estate in Montenegro
Located in the heart of the Balkans, Montenegro is a beautiful country that combines amazing nature, rich history, and a fast-growing real estate market. With years of experience in this area, we’ve seen how much the market has developed and how many opportunities it gives. It’s diverse, active, and open to both local and international buyers.
The current state of the real estate market in Montenegro
The Montenegrin property market has been on a steady upward trend for several years. Recently, the average annual increase in price per square meter has been around 10-20% depending on location, making
investing in real estate in Montenegro a highly profitable opportunity. This growth is driven by rising foreign investment, strong tourism, and supportive government policies. Demand for both residential and commercial properties remains high, making the country one of the most attractive real estate markets in the region.
Types of properties
- Residential properties: country has a wide variety of properties - from modern apartments in vibrant cities like Podgorica to traditional houses in peaceful villages. There’s truly a home for everyone here. The demand for holiday homes, rental apartments, and mini hotels for sale in Montenegro is especially strong along the coast, driven by the country’s thriving tourism industry.
- Commercial properties: The commercial real estate sector in Montenegro is thriving, especially in major cities like Podgorica and popular tourist destinations such as Budva. Retail spaces, offices, and hospitality objects - including hotels for sale and B&Bs - are in particularly high demand.
- Industrial properties: such as warehouses and factories, are mainly concentrated in key economic zones. Although this sector is smaller than the residential and commercial markets, it still provides solid opportunities for strategic investment.
- Land for construction: Urbanized land plots in Montenegro open ideal opportunities for construction and development. Residential, commercial, and mixed-use plots provide excellent potential for investors and developers looking to build in growing cities and popular coastal areas.
Best places to buy property in Montenegro
Budva
Known for its beautiful beaches and vibrant nightlife, Budva is a hotspot for tourists investors alike. The city has everything from private luxury villas to modern apartments and penthouses, and its vibrant rental market benefits from strong tourist demand. All
real estate in Budva are here.
Kotor
A UNESCO World Heritage site, Kotor feature a blend of history, culture, and scenic beauty. The market here is strong, with a focus on both residential and commercial properties. The Old Town is especially popular, thanks to its historical charm and appeal to tourists. Listings of
real estate in Kotor are here.
Tivat
Tivat, home to the luxury marina PortoMontenegro, is a hotspot for high-end investors. The city presents a variety of high price luxury apartments and villas with ten bedrooms pools, many boasting stunning sea views. Demand is strong, thanks to Tivat’s reputation as a premier luxury destination. Listings of
real estate in Tivat are here.
Herceg Novi
Often called the "Botanical Garden of Montenegro", The city charms with its lush Mediterranean vegetation, historic fortresses, and stunning views of the Bay of Kotor.
Herceg Novi has a diverse property market, from charming stone houses in the Old Town to modern sea-view apartments, attracting both retirees and investors looking for a peaceful coastal lifestyle. With the nearby spa resort in Igalo and excellent infrastructure, Herceg Novi also offers strong rental potential and growing demand for residential properties.
Podgorica
As the capital, Podgorica is the economic and administrative center of the country. The city has a diverse market, including residential, commercial, and industrial opportunities. Demand is especially strong for modern flats and office spaces.
Bar
Bar, a coastal town in the southeast, is another excellent location for real estate investment. Known for its rich history, diverse culture, and stunning landscapes, Bar presents a unique mix of modern living and traditional charm.
Real estate in Bar are here.
Property prices in Montenegro
Property prices in Montenegro vary depending on location, quality, infrastructure, and other factors. On average, prices remain competitive compared to other European countries, making the market attractive for investors. Coastal areas such as Budva and Kotor tend to be more expensive due to their popularity with tourists and foreign buyers.
Frequently Asked Questions (FAQ)
Can foreigners buy property in Montenegro?
Yes, foreigners can buy it with minimal restrictions. The process is straightforward, and foreign investors enjoy the same rights as usual citizens.
What are the legal requirements for buying property?
The legal requirements for buying include a valid passport, signing a sales agreement, and registering in the Cadastre. While hiring a local lawyer is not mandatory, as a notary verifies the documents, it is recommended - especially when purchasing large businesses or land - to ensure the process goes smoothly.
Are there any hidden costs when buying property?
Buyers should also take into account additional costs, such as notary fees, registration fees, and transfer taxes, which range from 3% to 5%. It’s also wise to consider ongoing expenses, including price of maintenance, utilities, and local taxes.
What is the market forecast for the next 5 years?
While the future can never be predicted with certainty, the outlook for the Montenegrin property market remains strong. Growth is expected to continue, driven by rising foreign
investments in Montenegro, a thriving tourism sector, and supportive government policies. It’s always a good idea to consult our managers or experts or conduct thorough research before making investment decisions.
Investing in real estate offers a unique opportunity to benefit from the country’s growth and potential. Whether you’re searching for a home or an investment property, country has something to present. As a trusted estate agency, we are here to guide you every step of the way on this exciting journey.
Ready to explore the opportunities?
If you’re ready to explore the opportunities in Montenegro’s real estate market, don’t hesitate to get in touch. Our team of experienced agents can provide personalized advice, help you find the perfect options, and guide you through every step of the buying process. Contact us today and take the first step toward owning your dream property on the Adriatic!
