The Budva's neighborhood of Rozino is emerging as one of the most attractive places to live in this coastal town. Every day, it seems, this neighborhood brings something new and exciting, drawing in young families and individuals with its modern infrastructure and diverse amenities. Situated at the heart of an educational hub, with a primary school, a college building, and several kindergartens, Rozino...
Determining the ideal selling price for your property is pivotal in attracting potential buyers and ensuring a seamless transaction. It involves a nuanced consideration of various factors that influence the property's value. Let's delve into these key aspects that sellers should ponder upon when setting a price for their properties. The location of your property holds immense significance....
Selling your home can be a daunting task, but with careful preparation, you can maximize its appeal to potential buyers and increase your chances of a successful sale. To help you navigate this process smoothly, we've compiled a comprehensive guide outlining the essential steps to prepare your home for sale. 1.Start with a Deep Clean: Before showcasing your home to potential buyers, ensure it's...
Obtaining Temporary Residence Permit through Real Estate Purchase Eligibility Criteria: Applicants:Foreign citizens, their spouses, and children under 18. Property Types:Residential or commercial properties (e.g., houses, apartments, commercial units, hotels, restaurants, holiday homes). Applicant Requirements: Valid ID document or passport. Details about the permit holder (name, place...
Montenegro, with its stunning landscapes, pristine coastline, and burgeoning real estate market, emerges as a compelling destination for savvy investors seeking lucrative opportunities. Investing in a condo in Montenegro not only promises a piece of the breathtaking Adriatic coastline but also offers a strategic foothold in one of Europe's fastest-growing tourism markets. With a favorable investment...
In the realm of Real Estate Transfer Tax legislation, a recent amendment has introduced progressive tax rates for real estate transactions, effective January 1st, 2024: For transactions up to €150,000.00: a rate of 3%; For amounts over €150,000.01: a fixed amount of €4,500.00, plus 5% on the excess beyond €150,000.01; For amounts over €500,000.01: a fixed amount of €22,000.00, plus...
VAT of 21% is required to add to above listed tariff. For a real estate property value over € 120,000.00, for every additional € 15,000, the fee is increased by € 10, but it cannot exceed € 5000. In case we have a pre-contract, the fees will be subject to a 50% fee under above listed tariff. If a contract is signed with the same notary on the basis of a pre-contract, the fee for...
Real estate sales tax The real estate sales tax rate in Montenegro is 3% of the tax base, or of the market value of the property. Real estate sales tax is not paid for new real estate, but only for used real estate, so if you are buying an apartment in a new building and you are the first owner of the real estate, no sales tax will be paid. The real estate taxpayer is the real estate acquirer. The...
Once you find the right property through a sales agent, and agree with the owner about the conditions of a purchasing procedure, a contract is signed to the public notary. The contract describes the obligations of the buyer and the details about the price and terms of payment . The buyer then pays a deposit , which is usually 5-10 % of the contract price. If we have a situation that the buyer cancels the...
