Montenegro is a small country in the center of Europe with mild climate, amiable social environment and an average European standard of living. House prices is relatively low — around 300–400 thousand euros on average in large cities. However, a cheaper option for 30–40 thousand euros can be found in villages.
The most appealing waterfront property in Montenegro is located in the Bay of Kotor, also known as the Boka, with its charming resort towns and rich cultural heritage protected by UNESCO. One more popular location is the Budva Riviera. People come here to purchase property in Montenegro despite the fact that the population density here continues to increase. The following article will help you to understand which cities are most popular with real estate investors and why.
The best cities for rental housing in Montenegro
Resort cities are always the most popular ones. It is profitable to purchase real estate in resort cities for subsequent rental.
Budva is a real tourist hub of Montenegro with the Old Town and fortress walls, the seaside citadel of the XV century, ancient churches, and romantic winding streets with houses constructed in traditional Mediterranean architectural style.
Miniature squares attract a huge number of tourists to summer festivals. It is the most popular resort in Montenegro—in summer the population of Budva grows almost 6 times. Therefore, the first options that many foreigners consider when buying a property are apartments in Budva.
Kotor is good for both investing and living. Nature surrounded by mountains, a luxurious bay and abundant cultural monuments which date back to the Middle Ages, that’s what attracts tourists and investors from all over the world, but mainly French, Russians, Scandinavians and Germans.
A major seaport with a daily average of 5,000 people arriving on cruise liners, it is also the cultural and historical centre of the country.
Montenegro real estate is profitable in various cities, including the area of Kotor—Prčanj, Dobrota, Stoliv.
Sveti Stefan is rightfully considered a signature city of the coast of Montenegro. In recent years, the demand for the city’s real estate has grown significantly and its infrastructure followed suit. This place attracts those who are fond of spending their holidays on the beach. Sveti Stefan is highly popular with celebrities, thus the prices here are high—about 3–6 thousand euros per square meter.
Herceg Novi is one of the largest cities in Montenegro located near the Croatian border. Summers there are warm and dry, with almost no precipitation in the winter months—thus the climate is favourable for permanent living and recreation. When a new seaport had appeared, the city’s real estate experienced a boom in demand.
Tivat: for investing and living
Tivat is a heart of luxury housing with the most fashionable residence complex Porto Montenegro. The second popular location is the chalet village of Tivat Hills. The city is located just 7 km away from Tivat Airport.
The population of Tivat is around 10,000 people. There is a stark contrast in both prices and infrastructure—if you are interested in waterfront real estate in Montenegro and you are looking for some options in new-build properties, they can cost up to 1.5 million euros and even more. In the old areas of the city the prices are considerably lower, 80–90 thousand euros.
Bar is another main port of Montenegro. It is located near the Mount Rumija. The city is one of the sunniest European locations: the waters here get warmer up to 24-26 °C as soon as the middle of May comes. The historic district of Bar is just 4 km away from the sea.
Today, the town is rightfully recognized as an open-air museum. It was here that the first king of Montenegro was crowned. Next to the Bar, in Mirovica, there is an olive tree which is claimed to be one of the oldest trees in the world. Its age is believed to be more than 2000 years.
One more resort is Sutomore. It attracts investors interested in real estate on the beach in Montenegro. With its picturesque beaches stretching for 2.5 km and a large range of affordable housing, it is a good choice for those who prefer to spend time in calm surroundings together with the family.
Some other popular location in Montenegro
– Perast—an ancient town on the shore of the Bay of Kotor.
– Morinj with its beautiful pebble beach, clear coastal waters and abundant fruit orchards.
– Bigovo with the most beautiful bay in Montenegro, or maybe in the whole Adriatic.
– Bijela with a good ecological situation, as well as unique flora and fauna.
– Luta with its secluded restaurants and ancient palaces near the Lovćen mountain range.
– The city of Cetinje, which resembles an open-air museum with its abundance of religious and historical monuments.
– Petrovac with olive groves and pine forest on the shore of the bay.
– Lustica Bay on the Lustica Peninsula.
What should be taken into account while making a choice
If you are interested in Montenegro real estate, pay attention to the size and infrastructure of the city, its proximity to the sea and popularity with tourists — all these factors affect not only the cost, but also the comfort of your stay in the country.
It all depends on the purpose of buying a house in Montenegro—houses and apartments in Budva, Kotor and Herceg Novi are the most suitable locations for investment purposes. When choosing a property for living, stick to your preferences — there are many secluded villages and developed cities in the country, where cultural and social life is in full swing, especially during the tourist season.