Montenegro Property Sales

Property Prices in Montenegro

Montenegro property prices can vary to a great extent. The market hasn't adopted to a property boom so it is quite common to see very overpriced property but unfortunately nowadays less commonly to find under priced property. It can be a quite messy really and until the market settles down a bit we will see a high fluctuations in property prices, especially with all awareness of rising prices along the coast. Sometimes the golden rule is to grab a newly offered property as soon as possible, given that the title is clean of course. Property agencies in Montenegro usually does not have a bound contract with property owners that disallow the owner to change a price for a time agreed, at least not without a accompanied fee or similar penalty. That almost does not exist in Montenegro so a funny things can happen, like owners changing the price several times in one month, and almost always newer price significantly higher each time. Of course that is an extreme example which happened but it illustrates how fast things can go in Montenegro under the rumors of new big investments or property sales statistics or top news of ever highest land purchase in area.

As usual prices will depend on location and quality, but particularly important is to look upon future or announced or even rumored news about investments in close area. That is really what can make some hefty profit on buying a Montenegro property.

Property buying process and legal stuff

Buying and selling properties in Montenegro is without restrictions, it is secure and regulated by Montenegrin laws. Foreign citizens, like from European Union have the same rights in property ownership as native Montenegrin citizens provided that their country of origin has the reciprocal agreement with Montenegro which is what most EU countries does have. Typically, when the price has been agreed a pre contract is signed and deposit paid to secure a property. Upon everything finished a final contract has to be signed between buyer and seller with the presence of notary public. A layer can be placed on behalf of buyer. Purchase tax on property in Montenegro is 2% and after it is paid the land registry is provided with necessary documents and it changes the property ownership.

Things to keep in mind

Keep attention on potential property title issues. It is very important that a property has a clean title and that the seller has the legal authority to sell the property, without any pending claims in court. The role of independent layer is crucial here so be sure to get one.