Can foreigners get a mortgage loan in Montenegro?

It might be tricky for a foreigner to obtain a mortgage loan for property in Montenegro . Erste Bank is the only bank lending to foreign property buyers, yet the primary qualification for an eligible foreign applicant is to have a residence permit in the country.

How much do utilities cost in Tivat?

Property maintenance costs are not so high in Tivat as compared to the rest of Europe. Read more about major housing and home ownership costs in Montenegro.

Can buying property in Tivat also get foreigners a residence permit in Montenegro?

A property purchase in Montenegro will get residence in the country (except for property for further development that would not qualify a buyer for a residence permit). There is no minimum investment threshold for a residence permit. The purchased property should be free and clear of any encumbrances. Read more in our article .

How to get citizenship in Montenegro by buying a property in Tivat?

To get citizenship in Montenegro , you would have both to purchase a property out of the government-approved pool investing at least € 250,000 and donate at least € 100,000 to the government fund.

What is the process of buying property in Montenegro?

It will take 2–4 months in average to register property ownership in Montenegro. To close a transaction, a foreign buyer needs to present a foreign passport of the home country, an individual seller is to produce a legal proof of property ownership and the excerpt from record in the local property registry, and a corporate seller should additionally provide the buyer with its corporate documents. See details here .

What are the property prices in Tivat?

The apartment prices in Tivat vary in a range of €2000-2500 for a square metre depending on the region and distance from the sea. The prices of a house range from €1600-2100 for a square metre.

What taxes are charged on property purchase, ownership, and sale in Tivat?

A transfer tax at 3% is charged on real estate transfers in Montenegro, and 21% VAT is levied if property has not been sold before. The real estate tax is levied for the use of the property at the rates ranging from 0.25 to 1% of the property value. Read more about the taxes charged on property purchase, ownership, rent, and sale in Tivat on the website .

Key takeaways about Tivat to know before property purchase: what makes the region special?

Tivat is a large town with an international airport and an established construction industry. Most of Tivat’s beaches in town proper are concrete structures or tiny patches of bulky pebbles. There are, however, three Blue-Flagged beaches outside of town. There are no cold currents or high waves along Tivat’s entire coast, making it a kid-friendly resort. Tivat lies on a smooth bed gently descending into the water, so the properties with sea view are not many. There are predominantly five-storey blocks of flats and detached houses in Tivat. The housing prices are lower than in the other popular resort towns in Montenegro.