Montenegro real estate market and the citizenship by investment program
Published at: 05/04/2019 01:05 pm
Montenegro's real estate market will change fast due to citizenship by investment program. The foreign investors will pour more capital in the tourism-related property market. This way Montenegro will become even more attractive for the sunseekers, who want to enjoy the clean beaches at the crystal clear and blue water of the Adriatic Sea.
Does it worth to buy a real estate in Montenegro for citizenship?
Montenegro is one of the fastest growing tourism destinations in the world. The number of tourists arriving in the country doubled between 2007 and 2015. In 2017, the Balcanic country attracted two million visitors. Now, the government invests in undeveloped parts of the coast, (Jaz Beach, Velika Plaža, Ada Bojana, Buljarica). These locations will be highly competitive destinations for sustainable and quality tourism.
Where to buy real estate in Montenegro under the citizenship by investment program?
Montenegro's real estate market concentrates on the seaside lands and properties. Therefore it is not a coincidence that the government offered a lower qualifying amount for investors in the northern part of the country. You can purchase a qualified real estate in the north for 250,000 euros in exchange the citizenship. Meanwhile, in the southern part of the state or the capital, the minimum amount of investment is 450,000 euros.
According to Airbnb, the average cost per night in the capital (Podgorica) for a family of four in the high season is 46 euros. However, if the northern city of Kolesin, the same cost for a night is double, you will have to pay around 80 euros. Of course, the beautiful Kotor at the seaside is even more expensive; the average cost is one hundred euro for a single night. In addition Sveti Stefan is an even more exclusive Mediterranean paradise small islet, the same family of four should spend there 125 euros for a sleep.
Prices and the number of home sales have been rising for almost a decade now
After Montenegro entered the NATO (North Atlantic Treaty Organization) in 2017, the country became more interesting for investors and the number of international flights also increased. As the primary currency of Montenegro is the euro, it is easy to purchase and to understand the costs and fees.
According to the New York Times, 80 or even 90% of the buyers are foreigners on Montenegro's real estate market. Before joining the NATO, Russian investors dominated the market. Now recently 35% of the home buyers arrive from the Middle East and Turkey. Naturally, Italian, British, German and French investors appeared on the market as well.
Discus Holdings Ltd is an official agent of the Montenegro Citizenship by Investment Program. Contact us for all the detailed information and step by step guidance to become a European citizen of Montenegro!