Many wealthy Russians began to make profitable investments and buy property outside their country. Houses on the coast in countries with temperate climates are in great demand. Montenegro is among such countries. You do not need to be a currency millionaire to buy an inexpensive house in Montenegro on the seashore.
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Why Montenegro is attractive for the Russians
In this country, the cost of living as well as housing maintenance prices are low. Tax burden here is quite benign.
Therefore, it is very profitable to invest in real estate in this country with the nature untouched by civilization, green mountains, clear sea, and a great climate.
There are no large productions there; the country is mainly funded by tourism.
Many Russians already know that it is quite possible to buy a house on the sea in Montenegro. You can rent it out and get a good income, or you can move to live in this beautiful country with its wonderful climate and no serious criminality.
It is a perfect place to buy a house by the sea
If you look at the offers on the real estate sites of Montenegro, you can see attractive ads of the kind:
- “A house for sale surrounded by a large garden, in a beautiful quiet place, very close to Budva – the main center of Montenegrin tourism. Tangerines, grapes, kiwi and other fruit trees grow in the garden. The area of the house is a little over 50 sq.m. The house is located in a 20 minute-walk from the beach.”
To buy a house in Budva means to become the owner of a wonderful garden in which you can grow exotic plants, enjoy sea fishing and all the benefits of infrastructure;
- “For sale are the wonderful inexpensive townhouses in the city of Kotor, built according to the earthquake-resistant technology. They are already fully ready to move in. The minimum area of the house is at least 150 square meters.”
Buying a house in Kotor is a very profitable purchase, as there are a lot of tourists going to this ancient picturesque city and therefore you can rent it out at any time of the year and soon recompense the cost of buying it;
- “For sale is a villa in Bar, located only one kilometer from the sea. It has four rooms, a terrace, two bathrooms, a flat roof providing the panoramic sea view.”
Buying a house in Bar can be much cheaper than in Budva and Kotor. In addition, there are a lot of our compatriots living in this city;
- Buying property in the city of Kolasin – a secular ski resort – is very popular with the Russians. Buying a house in Kolasin means getting the purest mountain air and silence. Inexpensive apartments in the houses of this city are very profitable for investment. The entire urban infrastructure is available there. In the winter, amateurs of skiing come here to ride long and well-groomed tracks, and in the summer tourists rush to take spa baths and breathe the purest mountain air.
To buy property in any city of Montenegro it is not necessary to have a vast fortune: it is quite possible to buy a house on the coast. The government of this country encourages the purchase of houses by foreigners, so there are no problems with the relevant paperwork.
Despite the fact that buying houses is quite common in Montenegro, it is also beneficial to buy an apartment there.
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How to buy an inexpensive house in Montenegro?
To start the purchase process, you do not need to go to Montenegro. There are a lot of estate agents in Russia who work independently or collaborate with colleagues from Montenegro. Online catalogs contain various offers for the sale of real estate in all cities of Montenegro.
Of course, the photographs of the houses cannot convey all the beauty of the items proposed, therefore, having decided to make such a purchase, it is better to go to Montenegro and personally inspect the item you like in order to buy it cheaply and with good profit.
Montenegro is the only European country where the Russians do not need a visa to travel for tourism purposes.The travel time should not exceed 90 days per year.
The flight from Europe to the international Montenegrin airport takes three hours. If you go to the trip by land transport: by car, train or bus, you need a Schengen visa, as you have to cross the borders of several countries.
When buying an apartment, the following actions are required:
- to pay ten per cent of the value of the selected object and sign a preliminary contract;
- to conclude a contract of sale in the presence of a notary and a translator;
- to pay the remaining amount;
- to pay 3% tax on the purchase; and
- to arrange all the documents.
All settlements on the transaction are made in non-cash form, regardless of whether the money is in a Russian bank or in Montenegrin one. However, it is better to open an account in Montenegro. To do this you need only a passport. When transferring money from Russia, you must notify the tax office. The transfer will cost you no more than 200 Euros.
At what price is it possible to buy a house without intermediaries
After a decrease in demand, housing prices fell by almost a third, and it became possible to buy a house on the seashore without intermediaries for 50 thousand Euros.
Even a middle-income family can purchase an inexpensive house on the Adriatic Sea. The minimum cost of real-estate items located on the coast is different everywhere.
The price depends on the following factors:
- location of the house,
- proximity to the sea,
- infrastructure around it,
- the size and layout of the living space, and
- the state of the building.
Therefore, the price range is very large, from 750 to 3,000 Euros per square meter.
Purchase of a good house near Bar will cost from 85 to 150 thousand Euros. Such house will include all amenities at the area a little over a hundred square meters.
You can also buy there an unfinished house for 50 thousand Euros, but usually, after the purchase of such a cheap property, serious repairs are required. For the same money it is better to buy an apartment in a 2-4 apartment building with a separate entrance, but a common courtyard.
Many people go to rest in Montenegro in September.
What is the most common weather in Montenegro in September?
The article describes how to rent an apartment in Montenegro during the rest.
You can read about where exactly the Ostrog Monastery is located in Montenegro, following the link: http://adriaticsea.blog/visit/sight-mne/monastyr-ostrog.html.
In Kotor and Budva real estate is much more expensive.
House with an area of 100 square meters will cost at least one hundred thousand Euros. You can find a cheaper house if you do not resort to the help of intermediaries. Some of our compatriots managed to buy here an inexpensive house with a pier.
For more than 250 thousand Euros, you can buy a multi-storey villa in a prestigious area.
The real estate market in Montenegro is actively developing. Buying real estate in Montenegro at moderate prices is quite feasible. Already many Russians have become owners of real estate in the country, and they are sure that they have invested their money very profitably.