October 14, 2019 - Thinking of buying a property in Montenegro and wondering what the costs are?
So what are the costs of buying a property in Montenegro, in addition to that headline asking price? A question we put to local specialists, RE/MAX Montenegro.
We all know that when buying a property, apart from its price, we have to pay additional costs. Here we give you an overview of the related costs:
Sales & Purchase agreement is drafted by the notary and the fees depend on the price of the property that’s being purchased:
*information on fees taken from the official web page of Notaries chamber
Notary fees are usually covered by the buyer, however, they can be split between the buyer and seller if they reach such an agreement. When signing the contract, the buyer should present a valid ID document (ID card or passport) and the seller should present the ownership document and a valid ID.
Administrative tax (registration for transfer of ownership) is €16 and is usually paid to the notary who will make the official payment and registration for you.
Property tax is 3% of the official value of the property which is determined by the official evaluator and it can sometimes be slightly different from the purchase price. If you’re buying the property from the investor, you don’t have to pay the property tax (but the investor has to be officially registered tax payer).
If you are financing your purchase through a housing loan, keep in mind that you will probably have to pay for the property insurance, in some cases a life insurance as well, bill of exchange (cca €2), access to the Credit registry of the Central Bank of Montenegro (€3-3.50). A detailed and precise overview of costs related to the housing loan will be provided by your bank.
If you are transferring money from one bank to another when paying for the property keep in mind that you will have to cover the costs for the bank transaction.
When buying a property that needs renovation, a rough calculation of the renovation works is €150 - €300/m2.
Detailed information on sale, purchase or rent of real estate is available with RE/MAX Montenegro agents who will help you throughout the entire sales and purchase process.
October 13, 2019 - Continuing our look at the real estate opportunities in Montenegro through the RE/MAX catalogue, a trip to imperial Cetinje.
While most people looking to buy in Montenegro naturally look first at the coast, there is much more to the country than its 275 kilometres of coastline. Heading inland can offer a better quality of life with less crowds while still in close striking distance of the sea. As such, more buyers are now also considering inland purchases, and there are certainly some great destinations and properties to buy in places such as the former imperial capital of Montenegro, Cetinje, the subject of this week's RE/MAX property of the week, as introduced by the official listing description:
This lovely villa is set on approximately 168 sqm, in this perfect location enjoying magnificent views and total privacy and tranquility in the core of the downtown of Cetinje.
Entrance through a gated driveway which can take up to 4 cars, the villa is surrounded by lovely mature gardens, outside dining and barbecue area.
Accommodation comprises of an entrance hall leading to a large and bright living room. From there you access the spacious dining room with large windows overlooking the park and a fully equipped designer kitchen, bathroom and bedroom. On the first floor one finds another 3 double bedrooms and main bathroom.
Using only the best material and highest quality as well as the highest quality wood and parquet flooring. Further complimenting this amazing villa, on basement level one finds a large fully equipped garage with the laundry room. The property is being sold completely furnished and equipped and ready to move in to.
Cetinje is a small town with rich history and tradition. It is also well known as one of most popular tourist destination in Montenegro and a town where is settled the University of Arts. Cetinje is situated in ideal location on 672 altitude, half an hour drive from the Adriatic sea and high mountains of Lovcen.
In the last couple of years Cetinje has become a very popular as a summer residence for people from surrounding cities, because of its pleasant climate during the hot summer season. Buying this apartment is considered as good rental investment, because of high demand from tourist and student population.
For more photos, information and to book a viewing, visit the original RE/MAX listing.
September 18, 2019 - A rare chance to buy first row to the sea close to Budva in the latest RE/MAX Property of the Week.
They say that the three most important things in real estate are location, location, location.
There is perhaps a twist on that maxim when it comes to the Adriatic coast - first row to the sea, first row to the sea, first row to the sea.
In addition to having the security of knowing that nobody is going to interrupt that perfect view, nothing quite beats the mesmerising connection you can get with just you and the sea.
And the good news is that there are some new (and increasingly rare) opportunities to get your own slice of first-row real estate heaven in our latest Property of the Week from the RE/MAX catalogue;
For sale two bedroom apartment of 88 m2 in Rafailovici, on the first line to the sea. Rafailovici is a little charming place, located on the beautiful Becici beach, from Budva less than 10 minutes drive. The building is currently under construction, and the completion of works is in May 2020. In addition to the exclusive location, this complex will feature an unusual design as well as modern facilities, which future owners of apartments can enjoy, such as pools, panoramic elevators, reception, video surveillance, etc. This is an opportunity for all hedonists who want to enjoy the peace of a small place on the coast with a perfect sea view.
Sales price - 340,000 euro. For more information, and to book a viewing, visit the original RE/MAX listing.
September 15, 2019 - Continuing our look at the real estate opportunities in Montenegro in association with RE/MAX, a trip to Tivat for the latest Property of the Week.
The real estate fortunes of Tivat have been transformed more than anywhere else in Montenegro over the last 15 years since the arrival of Porto Montenegro. Once a small sleepy town, the 500 million euro investment of Porto Montenegro has not only put Tivat on the luxury tourism map, but the trickle-down effect on real estate in the surrounding area has been significant, and today Tivat is one of the most sought-after places to own property in Montenegro.
And where better than Bjelila, just outside Tivat, from where this week's Property of the Week focuses a 3-bedroomed villa with pool and sea view. Its 212m2 of property on a 503m2 plot is priced at 450,000 euro and is presented by RE/MAX as follows:
It's not difficult to fall in love with this imposing villa perched on a slight slope that commands the views across lush Mediterranean greenery to the sea and mountains!
The architectural style of this “belle” is a clue that behind the seductive Mediterranean and modern exteriors lies the house with an equally cozy but also state-of-the-art interior.
Inviting interior reflects comfortable living at the coast, while the soft, light beige and blue color palette meet the airy, bright spaces, large glass surfaces, as well as natural design elements such as wood and stone.
It seems that in this villa timeless coastal charm marries the modern look with youthful edge. This makes this property an ideal home for everyone: families, couples and individuals!
- Internal area 190 m2
- Terraces 12 m2
- External area: 44 m2
- Plot size: 503 m2
- Living room
- Sitting room
- Open plan (kitchen, living room, dining room)
- 2 Hallways
- Office (Study)
- 3 bathrooms(3showers)
- 4 toilettes
- 3 balconies
- 4 AC-s
- Fridge and freezer
- Washing facilities
- Fire alarm
- Barbecue area / outdoor cooking
- Private environment
September 1, 2019 - A trip to Dobrota near Kotor for this week's RE/MAX Property of the Week in Montenegro.
One of the concerns about owning a holiday home is that there is usually nobody local to look after it unless special arrangements are made. The advantages of owning property in a gated community include peace of mind, both in terms of security and property maintenance. And should the property come in an idyllic location by UNESCO World Heritage Site Boka Bay and a short drive from the magical old town of Kotor, then peace of mind is just one of the attractions of this week's RE/MAX Property of the Week, a 43 m2 one-bedroom apartment in a gated community with swimming pool, with sales price of 119,000 euro.
In the words of the official RE/MAX property description:
One-bedroom apartment, fully furnished with a swimming pool, located on the ground floor. This is a gated development, very nicely kept all round and constantly maintained. The swimming pool is also regularly serviced and is shared between all the residents in the building. Location is excellent, it’s very close to Forza Mare and within close proximity of local beaches, restaurants and Kotor Old Town is only 5 minutes away by car. Excellent Investment.
Dobrota is one of the places on the Montenegrin coast where it is still possible to see all the splendor of the former Boka and the noble Kotor, from the time when sailors sailed the world's seas, conveying the glory of these regions and bringing much wealth to the local naval houses.
Dobrota is located in the immediate vicinity of the ancient Kotor with a view to Vrmac. A large number of churches today testify to the solid faith of the old Dobrich. The promenade in Dobrota runs several kilometers along the coast beside countless small stone pontoons and old palaces, unique and glossy like nowhere else.
The seafront of Dobrota consists of old captain villas renovated as seaside cafes and small hotels. Dobrota is also a place with very good restaurants and small seaside cafes where you can truly enjoy the ambiance of the ancient Boka.
For more photos, information and to book a viewing, check out the original RE/MAX listing.
August 12, 2019 - A journey to the edge of the Adriatic for this week's RE/MAX property of the week in Herceg Novi.
People may talk about nature and the incredible view, but at the end of the day, nothing quite beats having that view AND being close to the sea. There is something about those relaxing waves that no other location can match.
And if your property happens to be located in a well-equipped modern building in a desirable location, then so much the better.
If the lessons of Porto Montenegro and Tivat are anything to go by, real estate in Herceg Novi is set for an upward spiral once the Portonovi factor sets in.
And this week's RE/MAX Property of the Week on fashionable promenade Pet Danica is better located than most, and just 30 steps to the sea.
According to the official RE/MAX listing:
LUX apartment of 78 sqm for sale in an exclusive location, located in Herceg Novi on the promenade Pet Danica, only thirty steps to the sea. This two-bedroom apartment is situated on the second floor of luxurious building.
A wonderful spacious ambience, a view of the sea shore, which in this part is a blend of open sea with a bokokotorska bay as well as buildings located in these incredibly beautiful areas provide you with an ideal place to stay.
Excellent architectural combination of comfort, useful and beautiful, as well as the complete furnishing of the apartment to the smallest details of high quality will provide you with quality time with family and friends.
Two bedrooms, bathroom, hallway, living room with dining area and kitchen and terrace make the composition of this apartment. By purchasing this apartment, the price includes a garage place, which belongs to the apartment and located in the basement of the building.
Not only the immediate vicinity of the sea, but also of the city center, as well as the Old Town of Herceg Novi, shops and restaurants make this apartment represents an excellent rental investment.
This apartment could be an excellent investment because this location is in high demand for long term rentals and monthly rent goes from 600 - 1,000 EUR for similar properties.
For more information on price, more photos and to book a viewing, visit the original RE/MAX listing.
July 31, 2019 - Continuing our look at the real estate possibilities in Montenegro, through the RE/MAX catalogue, a visit to Donja Lastva by Tivat.
Tivat has undergone tremendous change in the last 15 years since the arrival of the Porto Montenegro project. And now with Lustica Bay also under construction close by, it is becoming one of the most fashionable places to be on the coast. It is lively all year, and it is not uncommon to find residents of Dubrovnik coming for the weekend in the winter months as there is more life.
This week's RE/MAX Property of the Week comes from Donja Lastva, which lies between Tivat centre and the ferry, a nice spot. With a very nice view from this spacious 308m2 house on a 376m2 plot. As RE/MAX explains:
The house has three entrances. The main one is from the parking space, the second is up to the stairs, and the third is from the terrace.
For sale is a very beautiful family house in Donja Lastva, with special comfort and style. There is a pleasant combination of colors, a spacious terrace covered with flowers, and a breathtaking view of the sea. When you need not just a house by the sea, but something special, this house is just what you need. It will surely find a response in your hearts.
On the 1st floor, we come from the entrance hall to the living room with a fireplace, here we have a kitchen room, a sauna for 6 people, a spacious bathroom with a jacuzzi and a shower. At the same level, there is a laundry room with a window, a storeroom-workshop, and a guest toilet.
We go the stairs and get to the 1st floor, on the right is a dressing room, on the left is the exit to the spacious hall, which is divided into the living room, and the dining area with modern kitchen (Bosch appliances, furniture is custom-made). Comfortable sofas in the living room, armchairs, a large plasma TV, a white piano - everything has to have pleasant evenings in this house.
From the living room, we get to a huge summer terrace, immersed in flowers. There are many cozy places where you can retire for a cup of coffee, there is a large dining area with a pergola for all families and guests, a barbecue made to order, a fountain with a mini pool surrounded by flowers. You truly feel in paradise, because the terrace offers stunning views of the sea, the Bay of Tivat, Porto Montenegro and the green mountains. On the terrace, at the edge of the site, there is an unfinished pool, but all the materials for it are available.
In front of the house, there is no possibility to build something so that you can close the view. This is one of the main advantages of this property.
From the living room up to the stairs, we get to the 2nd floor. But the house also has a third entrance - from the side of the gate. We enter the entrance hall, here is the guest toilet and access to the living room. We climb the stairs and get to the 2nd floor, here around the hall there are 4 bedrooms and 2 spacious bathrooms. Two large bedrooms and a guest bedroom - all overlooking the sea, as well as a nursery with a window on the green wall.
Air conditioners are installed in each room. Internet, satellite TV. Everywhere warm floors.Water. House owners buy 35-40 m2 of water - this is enough for the spring and summer period. At other times of the year, rainwater is used, water filters are installed.
For electricity, in the winter they pay a maximum of 400 euros per month (if you include all heating devices), but on average - 200 euros. On the 2nd floor, there is a wood-burning stove that warms the house perfectly. It is also possible to install a fireplace in the living room (optional).
Every year, a house tax of about 1,300 euros.
Price: 799,000 euros
For more information, photos and to book a viewing, check out the original RE/MAX listing.
July 18, 2019 - Continuing our look at the mouthwatering real estate on offer in Montenegro through the RE/MAX collection, this week a visit to Petrovac.
Authentic Montenegrin stone charm with a modern twist - it is proving to be a winning combination for many villas at the luxury end of the real estate market in Montenegro.
The latest RE/MAX Property of the Week comes from the charming village of Reževici near Petrovac, and is introduced by RE/MAX as follows:
Beautiful splendid villa with an authentic Mediterranean style, combined with a modern interior, located in the totally peaceful and adorable small Montenegrin village Reževici, with a magnificent panoramic sea views.
300 sqm of this charming villa offers a spacious living area with 4 bedrooms, living room, kitchen with a dining room, 4 bathrooms, 3 balconies, a garden, swimming pool and a garage. It is equipped with video surveillance, alarm, solar heating system. Perfect for living with a a huge rental potential! The price will be a surprise. If you like it, come and get it… To find out more, contact RE/MAX via the official listing.
July 7, 2019 - Continuing our look at the real estate opportunities via the RE/MAX catalogue, an affordable one-bedroom apartment just 5 minutes from Kotor Old Town.
It is one of the most enchanting places in Europe - Kotor Bay, a UNESCO World Heritage Site which epitomises the Montenegrin Tourist Board's slogan, Wild Beauty.
Apart from the stunning fjord, the main attraction is the gorgeous old town of Kotor, home to centuries of history, culture and tradition, with its improbable walls snaking up the mountainside.
Imagine owning a property with a view of the spectacular bay and within 5 minutes of the old town at an affordable price.
Welcome to the latest RE/MAX property of the week, yours for just 119,000 euro. From the official property description:
Fabulous one bedroom fully furnished apartment built to a very high standard and ready for immediate occupancy. The apartment has secure underground parking with a supermarket below and a petrol station close. Kotor Old Town is within 5 minutes walking distance.
The village of Skaljari is right next to the Old Town of Kotor. Skaljari covers the slope between Vrmac and Mount Lovcen. It's one of the Boka Bay settlements which has preserved the best the local Bokelian dialect.
Price for this 50m2 apartment - 119,000 euro.
For more information, photos and to book a viewing, check out the original listing.
June 23, 2019 - Continuing our look at the real estate options in Montenegro through the RE/MAX catalogue, the latest Property of the Week comes from idyllic Lustica Bay.
It is one of the most beautiful parts of the Adriatic coast, and the subject of the largest ever investment in Montenegro, as the Lustica Bay project development looks to redefine luxury tourism in the region. More than a billion euro in investment on 7 million square metres will eventually offer 7 luxury hotels, 2 marinas, an entire village of 2,500 people with accompanying facilities, and a signature 18-hole Gary Player golf course.
The first phase, including marina and the luxury hotel The Chedi is already open for business. Having been fortunate enough to stay there a couple of times, I can confirm it is one of the most peaceful and relaxing spots on the Adriatic for a holiday home. The facilities of both the The Chedi and the marina promenade offer a variety of shopping and dining experiences, and the essentially car-free neighbourhood only adds to the charm.
Property ownership on Lustica Bay is a very international affair, with sales at the Centrale village attracting buyers of over 30 countries. The biggest number of buyers came from the Germanic countries of Germany, Austria and Switzerland, followed by the Middle East, while a quarter of all 2018 sales came from more local sources - Serbia and Montenegro.
This week's property comes very close to the water and is described by RE/MAX as follows:
This spacious one bedroom apartment is located on the second (and last) floor of one of the first buildings within the biggest investment project in the country. It has an open-plan kitchen, dining and living room and a bedroom with its own bathroom and walk-in closet. The living room has access to a small terrace and to a large terrace which is shared with another apartment next to this one (these are the only two apartments on this floor). The property is being sold furnished and fully equipped.
Price on application for this 88m2 apartment. For more photos, info, floor plans and to book a viewing, visit the official RE/MAX listing.
June 11, 2019 - Continuing our look at the real estate opportunities in Montenegro through the mouthwatering RE/MAX portfolio, this week we visit a delightful new villa near Tivat.
It is not hard to fall in love with Montenegro, or to move there and fall in love with the wonderful lifestyle here. It always helps, of course, if you have the perfect place to live.
Well, now is your chance! Another gorgeous offering from the RE/MAX real estate catalogue and our latest property of the week in Donja Lastva, close to Tivat.
In the words of the RE/MAX brochure:
You will love this house. If you want to find the perfect home for family and life in Montenegro, then consider that you have already found it.
The house was built in 2015 according to the Mediterranean design project. Its total area is 182 m2, the total area of land around the house is 334 m2. Sold with furniture. Just a few minutes by car - and you are in the center of Tivat.
The house has 3 floors and two entrances. Near the upper main entrance is your parking for three cars. On the upper floor, there are two bedrooms with a large bathroom and a terrace with a stunning view of the Tivat Bay, Tivat, and Porto Montenegro.
We descend to the 2nd level along a beautiful graceful staircase; here we find the dressing room and the master bedroom, the bathroom and the study. The terrace at this level allows you to place a fireplace. Then we go down to the first level with you, where you will be met by a spacious living room with a fireplace and a wine closet, a dining room and a large bright modern kitchen with windows.
From this floor, we go to the terrace with a swimming pool. You will be amazed at the love with which the owners look after the flowering garden, the abundance of green creates a special comfort to this house. You will also enjoy a large barbecue area with a real oven. Living here, you will feel "Dolce Vita".
Here everything disposes to a happy life on the seashore.
For more photos, information, and to book a view, check out the original RE/MAX listing.