Montenegro Property

There are no restrictions for foreigners wishing to buy Montenegro property, other than land for development, and the buying process is relatively straightforward....
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High mountains, deep inland lakes and a spectacular southern coastline of bays and beaches, plus sunny summers and mild winters, are just some of the reasons why Montenegro property has become so popular.
Possible EU membership in 2014 will add to its attractiveness to buyers looking for property in Montenegro for investment or holiday-home ownership. There are no restrictions for foreigners wishing to buy Montenegro real estate, other than land for development, and the buying process is relatively straightforward. Prices of Montenegro properties and lawyers’ fees are low and there is no capital gains tax liability - all of which is helping to fuel the sector.
Much new development is taking place around Kotor and already there are reports of property for sale in Montenegro increasing by as much as 100% over the past year or so, with the potential for further capital growth being maintained, plus excellent rental returns being achieved through holiday home rentals.
Other popular holiday hotspots include Sveti Stefan and Bar, which are further south along the coast, plus the historic stronghold town of Budva, where life revolves around its elegant marina and harbour.
If buying a resale property, a 10% deposit of will secure a property in Montenegro, but if buying off-plan Montenegro real estate then an initial deposit followed by stage payments will be required.
Those buying property in Montenegro are advised to appoint a local solicitor and get all documents officially translated and stamped in court. Also, ensure you check the person you’re buying from has the correct title deed ownership. After that, ownership of a Montenegro property should be plain sailing and lots of fun.
Some information contained herein may have changed since it was first published. Homes Overseas strongly advises you to seek current legal and/or financial advise from a qualified professional.