Advice on buying Montenegro Property / Real Estate

You have found a Montenegro property / real estate you wish to purchase in Montenegro what next?

Buying Property in Montenegro - Costs of Purchasing Property

Montenegro Real Estate Buyer's Guide explains the legal fees, legal procedures, purchase taxes and mortgage procedure.

Successfully Buying a Property in Montenegro
Below are some brief points in purchasing property in Montenegro.

Buying a property

There is no restriction on UK nationals buying private property in Montenegro.

Surveys are hardly ever carried out, but it is wise to insist on one, particularly in the case of an older property.

The purchase process:

Once a price has been agreed and the preliminary searches have been conducted, a deposit (typically 10 per cent) is paid and a pre-contract signed.

When all searches are complete, buyer and seller sign the final contract of sale before a notary public, and the balance of the purchase price is paid. The change in ownership is then registered.

Fees and costs:

A purchase tax of 3 per cent on all properties is payable, calculated on the Montenegrin Inland Revenue's valuation rather than on the purchase price. Other expenses the buyer must meet include the lawyer's and notary public's fees (typically 1 per cent) and the estate agent's charges (usually 4 per cent).

Property taxes:

An annual property tax of between 0.08 and 0.8 per cent is payable, calculated on the market value of the property as at 1 January of the year in question.

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These guidelines are meant for guidance only and describe a straightforward purchase scenario. However this information is not meant to replace proper legal advice, which we always insist you take.

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