House in Montenegro

A house in Montenegro is a dream for many Russians who want to move to a warm European country or raise their monthly income by renting out real estate. Below we will talk about all the expenses that accompany the purchase of any Montenegrin house.

Prospects

Montenegrin houses are cheaper than similar properties in Slovenia, Croatia and other European countries. Here you can easily find a decent housing option, which will cost you 90 thousand euros.

The number of tourists and investors in this country has increased in recent years, and undeveloped land plots located off the coast and in elite areas are getting smaller. It is possible that soon in Montenegro there will be a deficit of real estate, because of what the prices for it will increase sharply.

Foreign citizens can rent houses on the same terms as local residents. In addition, any foreigner can conclude a sale or purchase transaction as an individual or a legal entity. In the first case, only a passport is needed from him.

Cost

The price of a house depends on its distance from the sea and its location. Housing primary market is much more expensive than secondary real estate.

The least visited resorts of the country are located in the Barskaya Riviera. Houses in this area are cheaper. It is difficult to find luxury villas, but you can easily find small private houses. The price for 1 m² starts from 1000 euros.

Poorly developed infrastructure is the main disadvantage of buying a house in the Barskaya Riviera. With a car and the desire to live in a quiet place, this fact ceases to be a problem.

The most popular resorts are on the territory of the Budva Riviera and Kotor Bay. In Budva, Sveti Stefan, Kotor and Petrovac you can find many elite cottages with a swimming pool and other amenities. 1 m² in such houses can cost about 5000 euros.

Tax

Tax rates in Montenegro are significantly lower than in other European countries. When buying a house, a foreigner must pay a 3% tax on its value. If the owner of the property is going to lease it, the rate rises to 9%.

The annual house tax is one: 0.1% of the cadastral value. If the immovable object has been received by inheritance, the rate increases to 3%. This year, the authorities are going to raise interest and attract more funds to the country's budget.

Content

In Montenegro, there are European rules for utility payments: money is paid only for the resources expended.

The standard Montenegrin house costs about 20 euros per m². The cost of maintaining an elite property on average equals 30 euros per m².

In Montenegro there is no unified heating system. To reduce the monthly heating costs in the fall and winter, you can buy a gas stove or a can.

If the owner of the house does not pay for utilities for two months, he is disconnected from the power grid. The same is practiced when there is a debt of more than 300 euros. 

Rental

The house can be rented only by its owner. To prove the right to own a real estate, you must have a passport, an extract from the state register and a document confirming the fact of connecting the house to the power grid.

In the presence of these documents, a foreigner receives a permit to rent a house. For this he pays a single administrative fee. The work of the evaluation commission is paid separately. It reveals whether the house meets housing and communal standards. Almost all objects successfully pass this stage.

Further, the owner of the house conducts categorization of his property. As a result of this procedure, the commission assigns one of four categories to the home. Guided by it, the owner determines the price of renting housing for potential tenants.

The owner of the house, who has secured documents from the commission, may issue an announcement on the leasing of real estate and start accepting payment for their services.