Buy real estate in Budva. Advice for foreigners. Top best deals for buying apartments in 2024

Untouched nature, gorgeous panoramic views, clear sea, mountains, Mediterranean cuisine (Greek, Italian) and the warm climate of the Balkans are attracting more and more foreign investors who want to move to the Adriatic coast and obtain a residence permit in Montenegro.

Every foreigner can buy real estate in Montenegro if he follows the recommendations written in this article. We will tell you about the steps that need to be taken in order not only to complete the transaction without any problems, but to avoid the mistakes that many people who want to move make.

From this article you will learn:

1. How to buy an apartment, house or apartments in Montenegro for a foreigner. Deal process
2. Real estate in Budva. Advantageous offers and prices
3. How to buy an apartment in Budva inexpensively
4. Current offers of inexpensive housing
5. How to choose a house
6. Legal aspects when purchasing
7. Pricing trends and forecasts
8. Taxes and other expenses
9. Pros and cons of moving
10. Popular buyer mistakes and tips

The purchasing process is quite simple. Here are 6 steps on how to buy real estate in Montenegro for a foreign citizen:

1. Make a choice. Decide on the type of housing (apartment, house, villa), budget, location and desired characteristics. You can independently search for objects on our website in the Sales section and contact our specialists.
2. Check all documents. Before purchasing, you must carefully check its legal purity. This will help you avoid problems in the future. To do this, our agents request all the necessary information from the seller and also receive an extract from the cadastre.
3. Sign the contract and be sure to have it certified by a notary.
4. Registration of property rights in the cadastre.
5. Payment. Can be made in euros, dollars. It is important to use official channels for transferring money.
6. Obtaining a residence permit. Foreigners who have purchased real estate have the right to obtain a residence permit. To do this, you need to collect a package of documents and submit it to the relevant authorities. Read more about how to obtain a residence permit in Montenegro.

  Adviсe:

• Choose profitable offers, on our website there are many offers at reasonable prices not only in Budva, but also in other cities on the coast. Look at the catalog on the website https://gomonte.me
• Before purchasing, we recommend that you consult our specialists for free +382 69 777 680 Viber/WatsAap/Telegram.
• Make sure you understand all the terms of the agreement.

Top 10 best lots on the coast of our agency in March 2024

Studios in Petrovac:

1. Great location, 22 m². Terrace, furniture, appliances. 5 minutes walk to the beach, promenade and supermarket.

€54,000/ More details click on this link

2. With designer interior, 23 m². Walking distance to the beach and supermarket.

€58,000. More details click on this link.

One bedroom apartments in Budva:

3. All necessary equipment, furniture, 46 m².

€107,000. View photos and location on the map here.

Two bedroom apartments in Budva:

4. Equipped with everything you need, 50 m², with a separate parking space, near the center.

€108,000. Find out details https://gomonte.me

5. With two bedrooms, 50 m². Terrace.

€109,900. More photos and details click this link. 

One bedroom apartments in Becici:

6. With views of the mountains and sea. 45 m², parquet.

€126,000. To learn more https://gomonte.me

7. In a new house, developed infrastructure, near the beach, 48 m². Modern design.

€125,000. Go to the page with the lot 

8. With a view of the mountains. Two bedrooms. 55 m². Parquet.

€143,000. More details https://gomonte.me

Apartments in Przno with one bedroom:

9. New home. Total area 74 m². Parking space.

€225,750. Page with object 

10. Overlooking the sea and mountains. 35 m². Large terrace.

€84,900. Location on the map and more photos https://gomonte.me/en/properties/s2142/

Inexpensive real estate in Budva represents an excellent opportunity for those who dream of their own corner on the Adriatic Sea. General recommendations on how to search:

1. Secondary market. Here you can often find apartments or houses that require cosmetic repairs or interior renovation.
2. Remote areas. Although the sea may be further away, such places have their own charm and quiet environment, especially during the tourist season.

The advantages of such offers:

• Available to a wide range of buyers.
• Has investment potential. With careful selection and improvement, you gain the potential for subsequent resale or rental.
• A chance to become an owner on the seashore without significant financial costs.

List of cheap housing from our catalog:

1. With 1 bedroom, 71 m², panoramic sea view.

€99,900. More details on this page 

2. Furnished studio 27 m² with a glazed terrace.

€56,000. More details https://gomonte.me/en/properties/s3754/

3. Apartment with 1 bedroom and terrace, 24 m², sea view, furniture, household appliances.

€59,500. More here 

If you don’t want to live in multi-storey buildings, but dream of your own small cozy house with fruit trees and sea views, here are a few steps on how to choose and how to buy a house on the coast in Budva:

1. Determine your needs and desires: First of all, decide what requirements your future home must meet. Consider the number of bedrooms, the area of the house, the presence of a balcony or terrace, sea views and other factors that are important to you. Look at the properties on our website in the Houses and Villas section.
2. Contact professionals: They will help you save time and money. Contact our agents +382 69 777 680 Viber/WatsAap/Telegram.
3. Visit the sites in person: Assess the condition of the building, its location, area infrastructure and other important aspects.
4. Consider additional costs: Such as utilities, taxes, maintenance, etc. This will help you calculate your overall budget.

Basic rules and requirements that apply to foreign citizens when purchasing real estate in Montenegro. In accordance with the law, foreign citizens have the right:

1. Freely purchase real estate within the country.
2. Pay the real estate transfer tax, which is 3% of the value of the property. It is also necessary to take into account the costs of paperwork and attorney fees.
3. After completion of the transaction, they receive full ownership rights to the object and the right to obtain temporary residence.
4. They can rent out their property. This is a great opportunity to earn additional income.

The real estate market in Budva shows a steady increase in both demand and prices for real estate. Expert forecasts indicate further development of the market and increased interest from foreign investors.   It is necessary to take into account taxes on the acquisition of property, as well as utility costs and other mandatory payments. It is important to familiarize yourself with this information in advance to avoid unpleasant surprises.

Taxes and expenses:

• At the GoMonte agency you do not pay an additional commission to the agency for concluding a transaction
• Mandatory tax 3% of the cost of the object
• Notarization approximately 0.5% of the transaction amount
• Translator from 50 to 100 euros per hour
• If the housing is primary, from an investor, then this is exempt from mandatory tax

Advantages of buying a home in Montenegro:

1. Moderate Mediterranean climate, which makes this country an ideal place to relax and live. Mountains, beaches, lakes - there is something for everyone here.
2. There are excellent investment opportunities here. The country is actively developing in the tourism sector and attracts more and more guests every year, the demand for apartments grows during the season and lots can be rented out profitably from 100 euros per day.
3. Calm, measured pace of life for those who are looking for privacy and relaxation from the bustle of the city.

Errors and tips:

1. Not doing enough market research. One of the most common mistakes when buying real estate is not doing enough market research. Before making a final decision, it is necessary to conduct thorough research on prices, legal nuances, and evaluate the potential for rental or resale.

Tip: Contact our agents, read reviews from other buyers, visit different areas and evaluate their potential.

2. Do not take into account additional costs such as taxes, facility maintenance, etc.

Tip: Prepare a detailed budget that includes all possible expenses to avoid financial surprises.

3. Do not check the legal purity of the object. Having debts, property disputes, or other legal issues can lead to serious problems in the future.

Advice: Contact professional GoMonte lawyers, they will help you figure it out and make sure that the transaction is concluded legally.

4. Do not take into account seasonality and the infrastructure of the area. When choosing, it is important to take into account the seasonality of the area, its infrastructure, accessibility to nearby cities and beaches.

Tip: Visit the area several times at different times of the year, study the infrastructure, proximity to shops, restaurants and other facilities.

Buying real estate in Montenegro can be a successful and promising investment step if you approach this process responsibly and carefully. Avoid the above mentioned mistakes, follow our tips and enjoy your new property in this beautiful country! Read also about the prices of goods and services in our article and how to obtain a residence permit based on the purchase of a home.