Hi has anyone bought property in montenegro or give me any information. Give it now a safe place to buy. Thanks

My relatives have properties but they were handed down through the generations...others that live there, rent, and my uncle builds houses, as for buying i have never really asked as i have never seen any for sale signs on properties. I just know the paperwork side would take forever.

I just bought an appartment off plan in the Budva Riviera.

We went to Montenegro in November with the intention to buy a property in the Kotor Bay area but the Budva Riviera suits as better as we have young children and the beaches and towns are more child friendly than in the kotor area.

Montenegro is gorgeous, the Kotor Fjord, Budva, Sveti Stefan, Petrovac Rafaellovici, Bigova all gourgeos places.

The property market is going mad, currently there are developments going up everywhere but you really need to go there and check what suits you better as information such as 200 metres from the beach might not sound a big distance but if it means that you need to climb up more than 100 steps or a mountain then the location can be an issue.

For instance I saw some appartments being built in Petrovac, they were really nice quality but unless you bought the penthouses, the other appartments the view was restricted as they were building other appartment blocks right beside you.

Another development that I saw buing built would have lovely see views but you could not go out of the urbanisation without a car as it was high up in the mountain and if you like to go out for few drinks and a meal you do not want to have to take the car out with you.

My advise to you is do as much reaserch as you can before you go, be aware of dodgy developers and state agents and try to visit as many places as possible to see which one suits best your expectations.

Good Luck!

hello I am planning to visit Montenegro this month March 2007 to buy an apartment. Can you tell me what agents you contacted and did they help organise flighst and accommodation?Thank you

Montenegro Buying Guide

I figured this would be helpful:

How difficult is the property purchase process in Montenegro?

"The Foundations of Property Law Relations of 1996 states that the reciprocity principle is the general rule that governs property and property rights acquisition in Montenegro.

Foreign individuals and legal entities can easily acquire property if the said property is necessary to their business. Foreigners can also easily acquire houses and apartments even if they are not performing business operations. However, it is necessary to register a company if one wishes to purchase land in Montenegro. Ownership can then be transferred to an individual by a simple procedure.

There are two conditions necessary to complete the purchase of a property and confirm ownership. These conditions are: “justus titulus” (legal entitlement to the property), and “modus aquirendi” (the registration of the property with the Area Property Registry).

Once a property has been chosen, a purchase contract is drawn and signed by both parties, or by their authorized representatives. All signatures must be certified by a court in Montenegro. When legal ownership is confirmed, a department within the Local Council Offices determines the value of the property. The buyer then pays the property transfer tax of 2% of the agreed valuation. Once this tax is paid, the purchase contract is confirmed by an official stamp and can now be registered with the local Area Property Registry. The purchase is complete upon payment of the purchase price."


I don't know how to post the tax table image here, can anybody help?

thanks
jc megan

According to global property guide, these realtors are chosen because of their prestige, reputation, and willingness to help foreigners buy or rent property in Montenegro.

MONTENEGRO REALTORS LIST:


If none of these agents help you, please post them here so we know if they are scams! lol


jc[/QUOTE]

Hi, Of the 4 agents on this site, Takovo Nekretnine is actually in Serbia, close to Belgrade so I doubt that they are of any help.
I have contacted Antona Markic. They were helpful, but only sell properties in the south around Bar and Ulcinj (which is where I'm looking)
I am going to Monte in April property hunting so I'll let you know whether Antona Markic are reputable. Sorry that this is a little late to help you, Philomena/2. In terms of flights, you might find an agent who can help you. But most agents seem to be only interested once you're in their office. I suggest you buy yourself a flight. (You've got a number of options, though I doubt any are that cheap if you're booking at the last moment) There are BA or Croatian airlines to Dubrovnik, Ryanair (or is it Wizzair or SkyEurope ?) to Split, JAT to Belgrade followed by a joining flight to Tivat or Ryanair to Bari followed by a beautiful ferry journey to Bar in the south of Monte. Once you arrive at your destination port/airport, I would hire a car so that you're not tied to just seeing properties from one agent. Good luck.

I bought an apartment through 'Someplace Else' an Estate Agent in Kotor Old Town, highly recommend them.

As for the stamp duty, it looks like the government are looking to increase it in the near future. I've heard possibly 4% or even up to 7%.

My apartment purchase went through like a breeze, seems to be very little red tape to deal with.

Hi Johnny34567,

Did you give your lawyer POA or did you return to sign all the paperwork yourself ?

Regards

I gave my lawyer POA, she sorted out all the transfers of money and then paid the stamp duty for me.

quote:

Reply



C4 Forums Homes Buying Abroad buying property in montenegro

I've just finalised the purchase of my property. I've bought an old stone house for renovation above Bar.
Having now seen the buying process, one piece of advice I would give to anyone buying a house with land is to sign the final contract in person not simply giving your lawyer POA. Check carefully the contract and ensure that what you think you are buying actually matches what is on the plan.

I didn't buy a property through any of the recommendations listed on this link, but I did meet Antona Markic and his son from Ulcinj. Unfortunately, they didn't have any properties matching my criteria, but they were very friendly, helpful and professional.

We visited twice in late 2006 and dealt with agents in Kotor most of whom were friendly and very helpful. One even found us a lawyer and helped us open a bank account and we sorted POA and registering a company all in one morning. We tried one agent in Budva but found them unfriendly and somewhat surly. They wanted €100 up front to take us to see any property. I guess they are not used to showing people around and then not getting a sale from it.
We haven't bought there as our plans have changed, but prices have probably gone up 100% in 3 years. Some plots of land we showed an interest in had the prices tripled as we sat in the agent's office. Serbian owners cashing in on the property boom there. €1 million per acre of waterfront is not unusual now... and property to renovate ? well the best waterfront villages are largely sold up with prices not dissimilar to the nicer parts of Cornwall !
Good luck!

Hello to everybody. I run a real estate agency in Montenegro and I am offering my services and help. I could be at your disposal to find the property that interests you in Montenegro. My agency deals directly with customers by finding them property that suits their tastes. You can send me your request, what you are looking for and I send you offers that suit your criteria with all details and photos. When you come here, I show you all properties and then we can together decide what is best. I have a license to represent foreign individuals and companies and my lawyers do the rest of the job concerning legal aspects of purchase. We have had success in all such deals and our customers were very satisfied. I take care of you while you are here because we want all our customers to feel like at home. I also help with all administrative work in the court and municipality. We can assist you in buying in all sort of properties all over Montenegro. If you are interested, just send me a private message or contact me on alfacg@cg.yu or direct phone +382 67 437 841. My wife is a professor of English at faculty and language will not be a barrier

Sorry, I forgot to mention that we don't charge anything additional for driving customers to visit the properties. We can also take care about your accommodation - to book the hotel or room for you and anything else that is important. When our customer arrives here, we are with him all the time so that he can feel comfortable and secure

quote:

Originally posted by Johnny34567:
I bought an apartment through 'Someplace Else' an Estate Agent in Kotor Old Town, highly recommend them.

As for the stamp duty, it looks like the government are looking to increase it in the near future. I've heard possibly 4% or even up to 7%.

My apartment purchase went through like a breeze, seems to be very little red tape to deal with.

If I may add to the land tax, if anybody is interested to know, we will be paying our invoice on Saturday next, the 28th of July, and the rate is still 2%; but there is talk that it will go up.

Having just returned from Montenegro, seeing the 'high season' there, quite amazing I would like to add to this message. Hire a CAR and take time to find a house, flat, ruin what ever.

There are hundred of agents some are ruthless and don't care, knock on their door and ask. The websites give incredible properties, reality- forget it, use the addresses to find the agents.
Budva is for families with beach, not a blue flag yet, it's BUSY there. Stay south of Budva in a small hotel in Bar, (Sozina, cheap and good)look from Bar to Dobro Voda, etc. It takes 1 hour to drive there an 1 1/2 to Ulcinj, near Albania.
From Bar to Kotor is with the traffic again 1 1/2 hours drive. All properties in Tivat have trebeled in price, because a Canadian consortium is building a deep sea marina for SERIOUS cruisers there, Monaco will be smal! compared with this new project.
A new motorway (not like the M25 or M4) is being built from Monrinj, close to Herzig Novi to Zabljak, the incredible skiing centre there, check out Durmitor 2550m high, stunning!
Once this road is finished in about 2 years, it will take 2 hours from Kotor - Risan Bay to the Skiing!! The prices are set to soar is insider talk!
Anybody wants a Swiss Chalet in Montenegro?

quote:

Originally posted by DavieH:
According to global property guide, these realtors are chosen because of their prestige, reputation, and willingness to help foreigners buy or rent property in Montenegro.

MONTENEGRO REALTORS LIST:


If none of these agents help you, please post them here so we know if they are scams! lol


jc

Hi, Of the 4 agents on this site, Takovo Nekretnine is actually in Serbia, close to Belgrade so I doubt that they are of any help.
I have contacted Antona Markic. They were helpful, but only sell properties in the south around Bar and Ulcinj (which is where I'm looking)
I am going to Monte in April property hunting so I'll let you know whether Antona Markic are reputable. Sorry that this is a little late to help you, Philomena/2. In terms of flights, you might find an agent who can help you. But most agents seem to be only interested once you're in their office. I suggest you buy yourself a flight. (You've got a number of options, though I doubt any are that cheap if you're booking at the last moment) There are BA or Croatian airlines to Dubrovnik, Ryanair (or is it Wizzair or SkyEurope ?) to Split, JAT to Belgrade followed by a joining flight to Tivat or Ryanair to Bari followed by a beautiful ferry journey to Bar in the south of Monte. Once you arrive at your destination port/airport, I would hire a car so that you're not tied to just seeing properties from one agent. Good luck.[/QUOTE]

Hi, would like to add to anybody who is still interested in buying in Montenegro, and looking at some fantastic sites on the web, finding houses, ruins, apartments everything looks perfect, contacting the estate agents as they are listed or show themselves, don't give out your email or phone details straight away.

I am getting "hounded" on the phone by agents; do are interested inbuying in Bulgaria, or Serbia or Florida, an absolute Pain! These site agents must sell on private details to other agents? Not sure how it works, but annoying anyway.

Re the pictures of properties on the web, don't believe what you see, Montenegrins build illegally to the end of their property borders, so one can shake hands in the morning with the neighbour, and there is little space for parking we have found. But you don't know that until one goes visiting, having all the expence of the flight etc.
Not sure whether anybodyelse found a similar problem!

Looks like stamp duty will be increased next year to 3%.

It looks like the link I provided has been removed. It said that stamp duty was being increased in 2008 but no specific date was mentioned, so don't know if it is from the 1st Jan or later in the year

On the stamp duty side, we are or just have paid the bill for that, which our lawyer did with his POA, we are going to Montenegro tomorrow so will bring back info on that ASAP.