Investment in Montenegro Develops Further As Property Prices Increase by 7%
07.07.2022Montenegro is one of the world’s fastest growing tourist destinations of the modern era and as its economy continually demonstrates positive growth (bar the covid pandemic) it’s no surprise that there’s an influx of property investment throughout the major resorts, resulting in an average price increase of around 7%, with new builds rising by between 10% and 13%.
In the popular coastal resorts such as Budva, Kotor and Tivat, prices per square meter for the 1st quarter of 2022, were between €1838 and €2025, and in the Capital, Podgorica, it was around €1683. Rental property has also increased, with a three bed apartment now setting you back between €880 and €1370 per month in the costal resorts and €570 per month in Podgorica.
It’s widely expected that the upwards trend in property investment is set to continue both from domestic and from foreign buyers firstly due to a current shortage of property, a plethora of amazing new build developments hitting the market such as on the Luxury Lustica Bay, a small coastline most of which is protected or difficult to build on, a wider availability of mortgages and finance options, plus a huge growth in the number of expats and holiday home owners.
Property prices in Montenegro are still very attractive compared to their European counterparts such as Spain & Portugal, and there’s expected to be a further increase if/when Montenegro joins the EU (of which membership is still a distinct possibility). One of the programs that has been rather successful to date, is ‘Citizenship by Investment’ which started in 2020 and has so far resulted in 409 positive applications. For an investment of €250,000 + a €100,000 donation to Montenegro for the improvement of less developed areas in the North, successful applicants can then become a Citizen of Montenegro, and take advantage of visa free travel to 124 countries (including Schengen area), favourable tax rates and an average rental yield of between 6% and 12%.
Increases in Property Prices are not only good for those who are buying in Montenegro and intend to take advantage of Summer Rentals (as the yields over this period will be strong) but it’s also a positive for those who are thinking of a more longer term investment, or those who are wishing to sell. It works for everyone, both buyers and sellers of Property in Montenegro.
CMM Investment Group have recently been voted as one of the best 100 companies to work for in Montenegro, and not only that, but they’ve also just celebrated their 15th year anniversary. Whether you want to take advantage of the ‘Citizenship by Investment’ program, or you want to invest in Montenegro for holiday home or permanent living purposes, do contact us with your requirements and we will be happy to assist with your Property journey!
In period May-August 2022 we sold our flats in St-Petersburg Russia and have bought two ones here in Montenegro, Becici. We decided to move here and make new home and business with my husband. Our agent Milica Zugic is really became our angel - provider here in Montenegro. She is very reliable, responsible , professional employee of CMM Budva department. She has developed intuition and found very fast necessary properties which we needed. Also she helped us to speed up the process of registration documents in MUP.( list nepokretnosti, etc). She was our real provider here. Very appreciated her and all staff of Budva department for there assistance. Separately to lawyer Ivan and his legal team. Very recommended choose Milica Zugic as real estate manager when you search for assistant in this complicated and important field as buying property in Montenegro.
Liudmila Nosova St-Petersburg Russia , 13.09.2022 11:20:09
At the beginning of April 2022, our family living in Prague bought a house in Sutomore with the assistance of your company.
Let me express my gratitude to the management of your company for the service provided, and especially to your employees - Anastasia Zeyak, Alexei Grachev and Elena Bozhovich for their attention, patience and even care for the whole time of buying real estate and the services provided after the purchase.
I would really like all companies to work with the same quality of service. After coming into contact with this kind of attitude towards the client, all our environment, if necessary, will refer to your company only.
With gratitude on behalf of our family.
A.V. Ter-Gazaryan, 12.07.2022 12:32:19
Based on my experience with CMM in Budva, Montenegro, I can say that they are reliable, fast, and they deliver what they promise. They take really good care of their clients. For instance, I was offered a lift from the airport, and they would take me back and forth from Tivat to Budva and Becici to see various properties. They would answer all of my questions and respond promptly. They have an excellent team: Katarina, Alexander, Natasha, Martin and some other guys whose names I don’t remember. Katarina, my wonderful agent, went to every length to help me find a perfect home. Unfortunately, my situation changed and I had to postpone my relocation to Montenegro.
I would strongly recommend this company to anyone who is looking for a property in Montenegro.
Val , 13.05.2022 04:18:13
We were introduced to CMM by friends who had already done research on Montenegro and CMM. We purchased our apartment in Dobrota, just outside Kotor, all remotely from South Africa, during the lockdown. Everything was seamless without any problems at all. All the CMM departments work together well from the sales team, head office, legal, interior design and rental department. Every detail was well communicated with an abundance of zoom meetings, videos, emails etc
We are thrilled with the outcome and enjoyed working with the CMM team. They were incredibly professional.
After sales service is also excellent as we move into the rental phase of the apartment and over all management of the apartment including maintenance.
We have been directly and indirectly involved with many houses/apartments all over the world and this was the up there with the best service we have received.
Thanks to everyone we dealt with at CMM it has been an absolute pleasure dealing with you all. We look forward too many happy years working with you on our rental.
Mandy and Antoine, 06.10.2021 10:56:22
Biz Montenegroda CMM komandayla tanish olmushug. Snejana ve Milan bize cox yaxshi destek olublar. Artig bizim burada evimiz de var. Bize gosterdiler cox yuksek service, ve artig butun bizim senedler de gaydasindadir. Boyuk hormetle onlara Cox sagol bildiririk!
Dilara, 01.10.2019 08:17:27
Last year we decided to find a new home close to the sea. It was quite difficult in the beginning to make the right choice. Once we found CMM Company was a great luck! We immediately received detailed consultation on the country and purchase opportunities. Being attracted by Kotor - one of the most amazing parts of the coast, we decided to take a family trip and maybe make our dream of new home come true. As just discoverers of Montenegro, we were accepted like at home which was a one more pleasant surprise. The most important, we received all detailed information about country regions and procedure of buying property during the first few days. And how beautiful the car journeys were! Difficult choice, but when you find the home you want you can't refuse it. CMM did best to help us with this finding! All the purchase procedure passed well with CMM professional work! Now we are happy owners of a wonderful house with a Kotor bay view, being perfectly served by CMM Management company (of course, we've chosen CMM as professional house manager). Hope our friends and relatives would also move to Montenegro with the CMM help soon !!!
Kate, 22.03.2019 13:06:21