Buying Real Estate in Budva: 2024 Guide for Foreigners
Untouched nature, gorgeous panoramic views, clear sea, mountains, Mediterranean cuisine, and the warm climate of the Balkans are attracting more foreign investors to the Adriatic coast. Buying property in Montenegro can also help you obtain a residence permit.
Contents:
How to Buy Property in Montenegro: Step-by-Step Guide
Best Real Estate Deals in Budva 2024
How to Find Affordable Apartments
Choosing a House in Budva
Legal Aspects of Property Purchase
Pricing Trends and Forecasts
Taxes and Other Expenses
Moving to Montenegro: Pros and Cons
Common Buyer Mistakes and Tips
1. How to Buy Property in Montenegro for Foreigners
Follow these 6 steps for a smooth and secure purchase:
Select the Type of Property Decide on the type of housing (apartment, house, villa), budget, location, and features. Browse listings on bokarealestate.me and consult with our agents for personalized guidance.
Check Property Documents Our agents verify property ownership details and obtain cadastre records to confirm legal clarity.
Sign the Contract Ensure the contract is notarized for security.
Register Property Rights Registration in the local cadastre secures your ownership.
Complete Payment Payments can be made in euros or dollars. Always use official banking channels.
Obtain a Residence Permit Property ownership in Montenegro grants you the right to apply for a residence permit.
Tip: Consult with our specialists at +382 661 95383 for tailored advice.
2. Best Real Estate Deals in Budva 2024
Studios in Petrovac:
22 m² with terrace, furniture, and appliances €54,000
23 m² with designer interior €58,000
One-Bedroom Apartments in Budva:
46 m² fully furnished €107,000
Two-Bedroom Apartments in Budva:
50 m² near the city center €108,000
50 m² with a terrace €109,900
One-Bedroom Apartments in Becici:
45 m² with mountain and sea views €126,000
48 m² modern design in a new building €125,000
55 m² with a mountain view €143,000
Apartments in Przno:
74 m² new home with parking €225,750
35 m² overlooking the sea and mountains €84,900
For more details, visit bokarealestate.me or call +382 661 95383.
3. Affordable Property in Budva
For budget-conscious buyers, explore these strategies:
Secondary Market: Affordable properties may need minor renovations but offer great value.
Remote Areas: Quiet, less tourist-heavy neighborhoods often feature lower prices.
Sample Listings:
71 m² with panoramic sea views €99,900
Furnished studio 27 m² with a glazed terrace €56,000
24 m² one-bedroom apartment with a terrace and sea view €59,500
4. Choosing a House in Budva
Follow these steps for choosing the perfect home:
Determine your needs (bedrooms, terrace, garden, etc.).
Contact professionals at +382 661 95383 for expert guidance.
Visit the property to inspect its condition and neighborhood.
Calculate additional costs such as utilities and maintenance.
5. Legal Aspects of Property Purchase
Foreign citizens have the right to:
Buy property freely in Montenegro.
Pay a 3% real estate transfer tax.
Enjoy full ownership rights after registration.
Earn passive income by renting out the property.
6. Pricing Trends and Forecasts
Montenegro's real estate market continues to grow, with property prices steadily rising. Prime coastal properties in Budva, Becici, and Sveti Stefan are especially sought after.
7. Taxes and Expenses
3% Property Transfer Tax
Notary Fee: ~0.5% of transaction value
Translator Fee: €50 - €100/hour
New properties purchased directly from developers are exempt from the property tax.
8. Pros and Cons of Moving to Montenegro
Pros:
Warm Mediterranean climate
Affordable cost of living compared to Western Europe
Investment potential with growing rental demand
Cons:
Higher prices in tourist seasons
Language barrier (though English is widely spoken in tourist areas)
9. Common Buyer Mistakes and Tips
Skipping Market Research: Study prices, trends, and legalities. Tip: Work with trusted agencies like bokarealestate.me.
Ignoring Additional Costs: Factor in taxes, maintenance, and utilities.
Not Verifying Legal Status: Ensure the property is debt-free and clear of disputes. Tip: Our professional lawyers can handle this for you.
Overlooking Seasonality: Tourist areas may become overcrowded in peak seasons.
Buying property in Montenegro can be a rewarding investment if you take the right steps. For expert guidance and access to the best listings, visit bokarealestate.me or call +382 661 95383 for personalized assistance.
