Montenegro Real Estate Market
The housing market in Montenegro has been steadily developing ,since the country gained its independence . Many investors bought and sold properties in the country. Montenegro has more natural beauty in its small area than anywhere else, so it is only natural that many foreigners and especially non-residents want to buy property 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
The market for commercial properties is equally active here, as Montenegro tends to attract many people intending on doing business. The nation indeed has a rapidly expanding economy, making it an all the more luring business focus point. You should probably run a business here, too.
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.
Since Montenegro has had an increasing economy for the past 15 years; we can confidently say that its property market is also very lucrative. 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. ■
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