Real estate in Montenegro: pros and cons, advice on choice, reviews

For most Russians it's no secret that Montenegro is one of the most cozy corners in Europe, where remarkable ecology, excellent climatic conditions and picturesque nature. Who dreams of buying a house or an apartment on the beach in this country? Very, very many. Route Russia - Montenegro is quite popular with our tourists. It would seem that if you buy real estate, it's better in Bulgaria. But it turns out that from the point of view of investment attractiveness, Montenegro is no worse.

Why this country?

There is everything for a comfortable stay: a gentle sea, a warm climate, clean air. In addition, Russia and Montenegro are countries with a common culture, and they are united by a great deal. For many years our compatriots are coming here to rest.

And this means that it is worthwhile for potential business investors to pay closer attention to the local real estate. First and foremost, the objects located in the Bay of Kotor, the Budva Riviera and in the south of the country are considered an advantageous acquisition. The winners will be those entrepreneurs who bought an apartment or house on the peninsula of Lustica, where a powerful construction boom unfolded.

Is it worth it or not?

Paradoxical as it sounds, but the acquisition of housing abroad carries some risks. Take, for example, real estate in Montenegro. Pros and cons of buying an apartment or a cottage in this European country also exist. Let us consider them in more detail.

Benefits

The visa-free regime with this European country, of course, causes an increasing number of Russians to travel here.

For investors in Montenegro, very loyal rules have been devised. The volume of offers of apartments, villas, houses in the primary market is growing, and their quality is also improving. Currently, the media often meets such an announcement: "Buy property in Montenegro!" Pros and cons of this transaction take place, and this should not be forgotten.

Anyway, but there is no shortage of supply in the housing market in the above-mentioned country. And there is a fairly acceptable level of prices for housing. But can you find budget options? It should be noted that the price range for apartments in Montenegro is quite wide. Everything depends on such factors as the distance to the sea, the layout and the yardage of living space, the availability of infrastructure. Experts say that the cost of housing in this European country can not be considered high, especially if compared with other states of the Old World.

Can I find an option for the best price?

For example, a small-sized studio apartment (20 m ² ) can be purchased for 40 000 euros.

More spacious apartments (50 m ² ) will cost 60 000 euros. Those wishing to purchase a land plot of 200 m ² with a cottage of 60 m ² will have to shell out for 80,000 euros. Villa (200 m ² ), coupled with land (300 m ² ) will cost 170 000 euros. As you can see, the spread of prices is impressive. Naturally, the geographic location of the object is not the last one. The most elite apartments are located in Boka Kotorska and Budva Riviera and on the south coast of the country. But still real estate in Montenegro can be purchased inexpensively, the main thing is to carefully study the available database of offers.

The cost of housing is relatively small

Another significant advantage of the transaction for the purchase of a house or apartment in the above country is that the costs of selling, purchasing and maintaining housing are considered to be some of the acceptable in Europe. Potential owners of real estate in Montenegro can pre-calculate the degree of profitability of the transaction. For an apartment of the category used you need to pay 3% of its value.

Every year one must pay property tax (from 0.1 to 1% of the market price per 1 m ² ). The amount of utility payments, when it comes to an apartment of 50 m ² , averages 50 euros per month in the summer and 100 euros in winter (water 1.5 euros per m ³ , electricity 10 euro cents per 1 kW, household waste disposal 10 euros ).

And of course, Montenegro is one of the ecologically clean countries of the planet, which is also a significant advantage for Russian businessmen. This year the country becomes a member of the European Union, and this fact will enhance its investment attractiveness.

disadvantages

Certainly, some may doubt whether it makes sense to invest money in real estate in Montenegro. Pros and cons of acquiring housing in this picturesque corner of the planet make you think about it once again. The thing is that the local infrastructure in terms of comfort and convenience is still inferior to the American Miami and the French Riviera .

Central heating is not provided, and the rooms are heated with air conditioning. As a result, there is often an overload with electricity, which is regularly turned off. It leaves much to be desired and the qualification of the staff. It should also be taken into account that the purchase of housing in the country in question does not in all cases imply an automatic receipt of a residence permit. It is not enough to buy an apartment, you still need to arrange medical insurance and have a bank deposit of 3600 euros.

So buy or not buy real estate in Montenegro? Pros and cons of this investment, we considered, suggests the conclusion that a deal to buy an apartment or a villa in this country can bring a good profit if you subsequently lease the object.

The situation in the market of new buildings

"Are there expensive apartments in Montenegro?" - you ask. As already emphasized, the price depends on several factors. We'll have to seriously try to find a budget option. The thing is that many sell for sale their friends and relatives, pursuing the goal of basic profit. If you are looking for the best priced apartments in Montenegro, then an independent solution to the problem may become more expensive than if you turned to the specialists for help.

It should be noted that the local real estate market is rather archaic, and thinking about a specific option, one must take into account that in the country earthquakes sometimes arise.

Recently, the construction boom has intensified here, and many developers are trying to build the last floors of the skyscrapers as soon as possible in order to begin selling apartments. As a result of such haste, the quality of housing suffers. Special vigilance should be shown in a situation where the contractor offers you apartments in a new high-rise building, which is built in close proximity to the mountain range. It is possible that after a couple of years your building will tilt or, worse, collapse.

Maybe a house by the sea ...

Today, very often you can find an advertisement with the following content: "Real estate. Montenegro. Coast. Acceptable prices". Is it true?

Of course, those who want to buy a villa on the azure coast are added and added. But if the demand increases, then the price increases: these are the laws of the market. Note that the level of house prices in the coastal areas of Montenegro in the pre-crisis period was approaching those in Spain and Italy. However, this segment of the market was very oversaturated, and the price-quality ratio was clearly in imbalance. According to the reviews, after the crisis there was a sharp decline in the cost of the above-mentioned apartments. Only in the prestigious areas of Montenegro - Budva and Kotor - prices did not lend themselves to serious adjustment. A cheaper variant of a house with a berth can be found in the Bar area.

Despite all the difficulties, the reviews say that the real estate market in Montenegro is systematically developing, and it is quite a real procedure to make a deal to acquire housing in this country for a Russian.