Where to buy a penthouse in Montenegro: A review of the best locations and a financial analysis of the market

Penthouse sales in Montenegro have quickly risen to a leading position, becoming the most sought-after luxury real estate category in 2026. More than just an apartment, a penthouse has become an architectural and investment status symbol, offering privileges unavailable in other properties. Demand is particularly high in premium marinas such as Porto Montenegro and Luštica Bay, as well as in new complexes on the Budva Riviera, thanks to their unique panoramic terraces and incredible views.

In this article, GoMonte, the luxury real estate sales specialists in Montenegro, will tell you which cities in Montenegro offer liquid penthouses and will conduct a financial analysis of prices, taxes, and rental yields. Our agency, GoMonte, specializes in selling sea-view penthouses in the country's most exclusive complexes. We offer properties where luxury combines with maximum liquidity. Don't miss your opportunity to invest in the pinnacle of the Montenegrin real estate market. Browse our catalog of penthouses with installment plans and discover the world of luxury ownership on the Adriatic!

View our catalog of penthouses for sale: gomonte.me

1. Key Locations for Luxury Penthouses in Montenegro

Penthouses offer a number of undeniable advantages over villas for many modern investors. They offer the highest level of service (concierge, 24/7 security, complex maintenance), ensuring absolute safety and minimizing operational concerns. Furthermore, penthouses are located in prime locations – in the heart of the action, close to restaurants and boutiques, while maintaining privacy and views unavailable even in many waterfront villas. Purchasing a penthouse is also a direct route to obtaining a residence permit in Montenegro.

The penthouse market in Montenegro is concentrated in several key regions synonymous with luxury, security, and the highest quality of life. These locations offer more than just real estate, but integrated resort services.

1.1. Tivat and the Bay of Kotor

• Porto Montenegro: access to a superyacht marina, five-star A-class hotel service (concierge, security), and panoramic terraces with direct views of the harbor and mountains. Buying here is an investment in the region's most liquid asset.
• Lustica Bay: offers a unique golf resort concept for those who value privacy, ecology, and access to exclusive sports facilities.

1.2. Budva Riviera

• Dukley Gardens / Dukley Residences: The Dukley complexes are among the most exclusive. Penthouses with a private beach and access to gated amenities, located on the Zavala Peninsula, offer unrivaled privacy and stunning views of Budva's Old Town. New high-rise complexes in Budva: Modern high-rise complexes in Budva: Tre Canne, Sky Fort, with panoramic views of the entire Riviera, modern infrastructure, and high short-term rental liquidity.

1.3. Herceg Novi and Portonovi

Portonovi: This luxury resort village offers services from leading global hotel operators. It offers an atmosphere of privacy and private service, including access to an exclusive beach club and wellness center. It is the ideal choice for those seeking a tranquil yet ultra-luxurious lifestyle.

2. Pricing and Financial Analysis of Penthouses

When analyzing the penthouse sales market in Montenegro, it becomes clear that prices are determined by unique premium features, not just standard square footage. Understanding these factors is critical for investors.

The price of exclusive properties can depend on:

• An unobstructed panoramic sea view is a key factor increasing value.
• Terrace area: In fact, the area of ​​a terrace with a view is often valued as much as the living space and is calculated with a high coefficient.
• Pool availability: An infinity pool on a private terrace is a hallmark of the ultra-luxury segment, significantly increasing the price and rental rate.
• Furniture and appliances from global brands (Poliform, B&B Italia, Miele) allow the penthouse to be sold as a ready-to-use asset, requiring no investment.

View this exclusive offer:

ID S520. Penthouse with a pool and panoramic sea views in Budva

Area: 396 m², Floor: 7, Bedrooms: 3, Bathrooms: 4

SALE PRICE: € 1,200,000

More details: gomonte.me/properties/s520

Book a viewing with our manager: Tel: +382 67 322 888 WhatsApp/Telegram, gomonte3000@gmail.com

2.1. Comparison: Penthouse price per m² in Tivat vs. Budva

• Tivat (Porto Montenegro, Luštica Bay): In Tivat, the price per m² of a penthouse is traditionally higher and can start from €7,000 to €12,000+. This is due to the focus on yacht tourism, five-star service, and an international premium audience.
• Budva (Dukley, Vysotki): In Budva, prices are more variable and can start from €5,000 to €9,000+ per square meter, depending on the proximity to the sea and the status of the complex. Budva offers higher liquidity for short-term rentals.

View this exclusive offer from our agency:

ID S3402. Two-bedroom penthouse in the center of Budva, on the waterfront

Area: 166 m², Floor: 3, Number of bedrooms: 2, Number of bathrooms: 2

SALE PRICE: € 550,000

More photos and location on the map: gomonte.me/properties/s3402

Book a viewing with our manager: Tel: +382 67 322 888, WhatsApp/Telegram, gomonte3000@gmail.com

2.2. Additional Costs: Premium Maintenance

When purchasing a penthouse, please keep in mind that additional costs are higher than for standard apartments:

• Taxes: Standard transfer tax (3% or 0% when purchasing from a VAT-paying developer).
• Complex maintenance: The most significant expense. Utilities and monthly maintenance fees for the complex (concierge services, security, pool and landscaping maintenance) can range from €3 to €5 per m² per month. This is the price you pay for unparalleled comfort and security.

Check out this exclusive offer from our agency:

ID S4299. Penthouse with sea views, a terrace, and a jacuzzi in Becici

Area: 140 m², Floor: 5, Bedrooms: 2, Bathrooms: 2

SALE PRICE: € 450,000

More photos and location on the map: https://gomonte.me/properties/s4299/

Book a viewing with our manager: Tel: +382 67 322 888, WhatsApp/Telegram, gomonte3000@gmail.com

3. Penthouses as a High-Yield Investment

Buying a penthouse in Montenegro is a strategic investment decision that provides not only prestigious ownership but also high seasonal returns.

3.1. Rental Income

Many new complexes, especially those integrated with hotel operators (such as Luštica Bay or Portonovi), offer guaranteed rental programs for penthouses. The developer or management company takes care of all rental responsibilities, providing the owner with a fixed annual income of 4-6% of the property value, regardless of actual occupancy. The availability of hotel services (cleaning, concierge, spa) allows for maximum rental income while minimizing the owner's operating costs.

3.2. Demand: The Attractiveness of VIP Rentals in High Season

Demand for penthouses significantly exceeds supply, especially in the summer months:

• VIP Rentals: are in greatest demand during the high season among wealthy tourists, businessmen, and celebrities seeking maximum comfort, privacy, and service. VIP rentals generate rates that are several times higher than standard apartment rentals.
• Reason for demand: exclusive features (private pools, huge terraces, panoramic views) unavailable in other types of housing.

3.3. Liquidity: Potential for Value Appreciation

Due to the shortage of waterfront plots and Montenegro's growing prestige as a yachting hub, penthouses maintain high liquidity, especially those purchased during the construction phase. They are a reliable means of preserving and increasing wealth in the Adriatic, with a guaranteed capital increase of 20-30% by the time the property is completed.

4. Montenegro Residence Permit through Real Estate Purchase

A penthouse is ideal for obtaining a Montenegrin residence permit through real estate purchase, but one important condition applies: the cadastral value of the property must be at least €150,000, and the following requirements must be met: the property must be residential, legalized, and registered with the Cadastre. Penthouses are typically located in new, legally clear complexes, making the process of obtaining residency status (for the owner, spouse, and minor children) as quick and hassle-free as possible.

5. Taxation when purchasing a penthouse

The tax burden on a penthouse has its own peculiarities:

• Transfer tax: The standard rate is 3% of the assessed value when purchasing on the secondary market. However, when purchasing a new penthouse from a developer who is a VAT payer, you are exempt from this tax, which represents a significant savings.
• Annual luxury property tax: Montenegro does not have a separate "luxury tax" in the traditional sense. However, the annual property tax (0.25%–1.0%) may be higher for penthouses, as local authorities apply higher rates to properties in prime locations (waterfront, Porto Montenegro) or to properties with a high cadastral value.

6. Penthouse Ownership Registration Considerations

Particular attention should be paid to the design of outdoor spaces. Legal registration of a penthouse with a large terrace requires that both the living area and the area of ​​open terraces be accurately reflected in the Cadastre and the Real Estate Register (List nepokretnosti). In Montenegro, terraces (open areas) are registered with a reduction factor (usually 0.25 or 0.5) when calculating the total area. Our legal audit ensures that all parts of the penthouse, including the private pool and terraces, are properly registered and assigned to the buyer, which is critical for the future sale and price determination.

7. Review of the Best Penthouses for Sale (GoMonte Catalog)

Our catalog contains only the most marketable and prestigious penthouses for sale in Montenegro, available in key luxury locations – from Porto Montenegro to Dukley. We've structured our offerings so you can choose the property that perfectly matches your investment strategy:

• Penthouses with private pools
• Properties with designer renovations and furniture
• Properties in complexes under construction

View the catalog: gomonte.me

For investors who value immediate occupancy or rental readiness:

• Advantage: Our catalog features move-in ready penthouses in Budva and Tivat (near Porto Montenegro). These properties are fully furnished with designer renovations and furniture from leading global brands.
• Benefit: You save time and money on renovations, avoiding logistical complexities and delays. The penthouse is ready to generate income immediately after the transaction is completed.

Purchasing early in the construction phase provides the greatest potential for capital growth:

• Terms: We offer penthouses in complexes under construction in developing elite areas. The best conditions at the foundation stage include the lowest price, the ability to make changes to the layout, and often flexible payment terms (installments).
• Investment attractiveness: Investors entering the project at the foundation stage can expect an asset appreciation of up to 30% by the time the property is commissioned, making this option the most profitable for capitalization.

Contact GoMonte to access private penthouse listings and arrange a private viewing:

Tel: +382 67 322 888 WhatsApp/Telegram

Email: gomonte3000@gmail.com

Thanks to the limited supply on the waterfront, penthouses demonstrate consistently high growth potential, making them the most liquid asset in the luxury segment. Don't waste time searching through disparate sources. Penthouses sell quickly and are often not publicly available. Order a customized penthouse selection and financial yield calculation from our GoMonte expert now to gain access to exclusive properties and accurately plan your investment.