Buying property in Montenegro is straightforward for foreign buyers, with almost no restrictions on ownership. This guide covers everything you need to know about the buying process, costs, and legal requirements.
Montenegro has become an increasingly popular destination for property buyers, offering beautiful coastline, affordable prices compared to Western Europe, and a welcoming attitude towards foreign investment.
Quick summary
- 1Foreigners can buy property in Montenegro with no restrictions on apartments and houses
- 2The buying process takes 2-3 months and costs about 3.5-4% on top of the purchase price
- 3Transfer tax is 3% of property value, paid by the buyer
- 4A local lawyer is essential for due diligence (€500-2,000)
- 5No residency required to purchase property
Can Foreigners Buy Property in Montenegro?
Yes, foreign nationals can buy property in Montenegro with almost no restrictions. This makes Montenegro one of the most accessible property markets in Europe for international buyers.
Key Points for Foreign Buyers: - No restrictions on buying apartments, houses, or commercial property - Land purchases may require company formation in some cases - Agricultural land has some restrictions for non-residents - EU citizens and non-EU citizens have equal rights
The Property Buying Process
The buying process in Montenegro typically takes 2-3 months from offer to completion. Here are the key steps:
Step 1: Find Your Property - Work with a licensed real estate agent to find suitable properties.
Step 2: Make an Offer - Once you've found a property, make a formal offer through your agent.
Step 3: Due Diligence - Verify ownership, check for encumbrances, and confirm building permits.
Step 4: Preliminary Contract - Sign a preliminary contract and pay a 10% deposit.
Step 5: Final Contract - Sign the final contract before a notary.
Step 6: Registration - Register the property transfer at the Real Estate Administration.
Costs of Buying Property
When buying property in Montenegro, expect the following costs:
- Transfer tax: 3% of property value
- Notary fees: 0.1-0.5%
- Legal fees: €500-2,000
- Agent commission: 3% (usually paid by seller)
- Registration fees: €50-200
Total buying costs: Approximately 3.5-4% of property value
Tips for Buyers
Here are our top tips for buying property in Montenegro:
- Use a local lawyer - Essential for due diligence and contract review
- Open a Montenegrin bank account - Required for property purchase
- Get an OIB number - Tax identification number needed for purchase
- Consider currency exchange - Plan your EUR transfers in advance
- Visit in person - Always view properties before buying
Frequently Asked Questions
Can foreigners buy property in Montenegro?
How long does the buying process take?
What are the total costs of buying?
Do I need a lawyer to buy property?
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