Property maintenance costs in Montenegro
Real estate maintenance costs in Montenegro are rather low for Europe. For example, the owner of a
Taxes in Montenegro are lower than in Western Europe: property tax ranges from 0.1% to 1.0% of the property cadastral value depending on the property type, location, quality and age. Buyers can expect to pay 9% for capital gains tax and income tax from rental property respectively and 3% for estate tax. However, there is no estate tax if property is bequeathed to children, parents or a spouse.
Utility bills for an 85 sq. m. apartment in Montenegro are about €110/month on average. A homeowner pays about €220 in Budva and less than €90 in Herceg Novi.
Electricity charges range from €30 to €100 per month (
While there is no gas grid supplying the coastline, it is common to use gas bottles or tanks for stoves and heating; this also brings down electricity costs. A stove costs
Home insurance is not mandatory in Montenegro unless there is a mortgage on the property. It costs
Management company fee
Management companies charge about