Montenegro Real Estate Market
Since the country became independent, the real estate market in Montenegro has been growing steadily. Many investors bought and sold properties in the country. Considering the incredible natural features of Montenegro, it is no surprise that many foreigners are interested in buying real estate here. The government is also aware of this attraction. So they made it even more of a better deal by offering a residence permit for foreigners who buy a property in Montenegro.
As the country has a central location for people who work with multiple countries, like Russia, Germany, Italy, Turkey, or any country in Europe, buying a house here is also beneficial for business purposes.
Montenegro Real Estate Trends
Although it is impossible to be sure that the real estate market will stay as it is forever, statistically Montenegro real estate trends show certainly positive trends that are also promising for the future.
In the past, around the time that the financial world experienced a crisis of 2008, the real estate market in Montenegro got some hit like anywhere else. The market prices had dropped a quarter for a while. But it recovered faster than many other places thanks to Russian buyers.
The country developed a lot in the following years. A report that is prepared by the World Bank mentioned that Montenegro improved its economy so much that the income per capita increased by more than 200%. Since that report, this increase continued. The country also managed to keep the consumer-price inflation under 3% since 2015.
Perhaps the most important factor that affects real estate trends in Montenegro is the tourism sector. The country has quite an active tourist traffic. And it is very common for these tourists to want to buy a house and live here. So, not only tourism investments like hotels, or attraction projects, can be highly profitable but also the property market can benefit from this tourism.
Commercial Property Market in Montenegro
As it also attracts many people who plan to start a business here, Montenegro also has a busy market for commercial properties. Since the country has a fast-growing economy, there are many investors who are looking for ways to get into this market. You might want to start a business here as well.
In the touristic parts of the country most available commercial properties are old hostels or other small tourism business locations. But in the inner parts, such as the capital Podgorica, you can find more commercial property options. Here, there are numerous class A or class B offices you can buy.
Considering that Montenegro’s economy has been growing for the last 15 years, we can safely say that the property market is also promising. Properties gain value by day and it is smart to buy a property for living in or making business, or even just for keeping it for investment. ■