Montenegro regulates the real estate market: new law on co-operation with agencies
The government of Montenegro has drafted a bill that prohibits property owners from selling and advertising without the participation of agents. As a result, housing prices are predicted to rise, as sellers will be forced to use the services of intermediaries. The draft is currently at the discussion stage.
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The project is aimed at regulatory streamlining of the market, which, as authorities say, is struggling with low quality of services, lack of insurance and uncertainty in the legal field.
The acceptance of this law will lead to the formation of an official list of licensed property agents in Montenegro. In order to get the licence, all agents will undergo mandatory examinations and confirm their qualifications.
Source: Investitor
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