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...
