For most Russians, it is no secret that Montenegro is one of the most comfortable places in Europe, where there is wonderful ecology, excellent climatic conditions and picturesque nature. Who dreams of buying a house or apartment on the beach in this country? Very, very many. The route Russia - Montenegro is quite popular with our tourists. It would seem that if you buy real estate, it is better in Bulgaria. But it turns out that from the point of view of investment attractiveness Montenegro is no worse.
Why exactly this country?
It has everything for a comfortable stay: the gentle sea, warm climate, clean air. In addition, Russia, Montenegro are countries with a common culture, and a lot of them have in common. Over the years, our compatriots have come here to rest.
This means that potential business investors need to pay closer attention to the real estate here. First of all, objects located in the Bay of Kotor, the Budva Riviera and in the south of the country are considered to be a profitable acquisition. Those entrepreneurs who bought apartments or a house on the Lustica peninsula, where a powerful construction boom has unfolded, will also benefit.
Is it worth it or not?
Paradoxical as it may sound, the purchase of housing abroad is fraught with certain risks. Take, for example, real estate in Montenegro. The pros and cons of acquiring an apartment or a cottage in this European country also exist. Let's consider them in more detail.
Benefits
A visa-free regime with this European country, of course, forces an increasing number of Russians to travel here.
For investors in Montenegro, very loyal rules have been invented. The volume of offers of apartments, villas, households in the primary market is growing, and their quality is improving. Currently, the media quite often encounters such an announcement: “Buy real estate in Montenegro”! The pros and cons of this transaction take place, and you should not forget about this.
One way or another, but supply shortages in the housing market in the above country have not yet been observed. Moreover, there is a fairly acceptable level of prices for the maintenance of housing. But is it possible to find budget options? It should be noted that the price range for apartments in Montenegro is quite wide. It all depends on such factors as the distance to the sea, the layout and footage of the living space, the availability of infrastructure. Experts say that the cost of housing in this European country cannot be considered high, especially when compared with other countries of the Old World.
Can I find an option at the best price?
For example, a small studio apartment (20 m2) can be purchased for 40,000 euros.
Larger apartments (50 m 2 ) will cost 60,000 euros. Those wishing to purchase a land area of 200 m 2 with a cottage of 60 m 2 will have to fork out for 80,000 euros. A villa (200 m 2 ), together with a land plot (300 m 2 ) will cost 170,000 euros. As you can see, the price range is impressive. Naturally, the geographical location of the object is not of the least importance. The most elite apartments are located in the Boka Kotorska and Budva Riviera and on the south coast of the country. Nevertheless, real estate in Montenegro can be inexpensively purchased, the main thing is to carefully examine the existing database of offers.
Housing costs are relatively small
Another significant advantage of making a transaction to buy a house or apartment in the above country is that the costs of selling, acquiring and maintaining housing here are considered to be one of acceptable in Europe. Potential owners of real estate in Montenegro can pre-calculate the degree of profitability of the transaction. For a used apartment, you need to pay 3% of its value.
Every year you need to pay real estate tax (from 0.1 to 1% of the market price for 1 m 2 ). The amount of utility bills, when it comes to an apartment of 50 m 2 , averages 50 euros per month in summer and 100 euros in winter (water - 1.5 euros per m 3 , electricity - 10 euros per 1 kW, household waste - 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 strengthen its investment attractiveness.
disadvantages
Of course, some may doubt whether it makes sense to invest in real estate in Montenegro. The pros and cons of acquiring housing in this picturesque corner of the planet make you think about it 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, often there are overloads with electricity, which is regularly turned off. The qualifications of the service staff leave much to be desired. It should also be taken into account that the purchase of housing in the country in question does not in all cases imply the automatic receipt of a residence permit. It is not enough to buy an apartment, you still need to take out medical insurance and have it on a bank deposit in the amount of 3600 euros.
So to buy or not to buy property in Montenegro? The pros and cons of this investment, we examined, the conclusion suggests itself that a transaction to purchase an apartment or villa in this country can bring good profit if you subsequently rent the property.
The situation in the market of new buildings
“Are apartments in Montenegro expensive?” - you ask. As already emphasized, the price depends on several factors. Will have to seriously try to find a budget option. The thing is that many put up for sale the apartments of their friends and relatives, pursuing the goal of basic profit. If you are looking for affordable apartments in Montenegro, then an independent solution to the issue may become more expensive than if you turned to specialists for help.
It should be noted that the local real estate market is quite archaic, and, thinking about a specific option, you need to consider that earthquakes sometimes occur in the country.
Recently, the construction boom has intensified here, and many developers are trying to build the last floors of high-rises as quickly as possible in order to start selling apartments. As a result of such a hurry, the quality of housing suffers. Particular vigilance should be shown in a situation where the contractor offers you apartments in a new multi-storey building, which is built in close proximity to the mountain range. It is possible that after a couple of years your structure will tilt or, even worse, collapse.
Maybe a house by the sea ...
Today, you can often find an ad that reads: “Real estate. Montenegro Coast. Acceptable prices". How true is it?
Of course, everyone who wants to buy a villa on the Cote d'Azur is adding and adding. But if demand increases, then the price rises: these are the laws of the market. Note that the price level of households in the coastal regions of Montenegro in the pre-crisis period was close to those in Spain and Italy. However, this market segment was very oversaturated, and the price – quality ratio was clearly in imbalance. According to reviews, after the crisis there was a sharp decline in the cost of the above apartments. Only in the prestigious areas of Montenegro - Budva and Kotor - prices did not lend themselves to serious adjustment. A cheaper version of the house with a berth can be found in the Bar area.
Despite all the difficulties, according to reviews, the Montenegrin real estate market is developing steadily, and for a Russian to complete a deal to acquire housing in this country is a very real procedure.