Real estate deals in Montenegro: Did the market sink?
This is an automatic translation.
Click here to read the publication in the original language.
Real estate deals in Montenegro: Did the market sink?
In the middle of this winter, analysts predicted the collapse of the Montenegrin market: real estate deals in Montenegro truly impressed by their disadvantage for sellers, and the increased influx of guests into the holiday season did not make forecasts less gloomy. The tourist interest increased, the emigrant interest was asleep. The real demand for housing in Montenegro has decreased, by different regions, by 10 to 20%. But the collapse did not happen. Why? The answer is one: because Montenegro remains Montenegro, and the Russian buyer is still loyal to it.
According to Runet surveys, the purchase of real estate in Montenegro is included in the active plans of too many citizens of the Russian Federation and the CIS to worry about demand as such, but here ready-made new buildings and premium housing have become significantly less quoted. By the way, relatively expensive Budva and Becici suffered less than other areas.
How are transactions for real estate in Montenegro regulated now? Only concessions. Of course, the buyer, pretty tired of the crisis, has already started looking into obvious illiquidity - there are also plots in the mountains, houses without communications, and dilapidated housing. However, good facilities (new homes, mini-hotels, renovated apartments) are sold tight. The concession to date does not exceed 5-7% of the value, and the average amounts have reached about 85 EURO.
At the same time, the decline in Russian demand is compensated by the European audience, which, in particular, makes more expensive real estate deals in Montenegro: these buyers are not afraid of seaside objects with a price tag from 1700 euros. The last season was, of course, more expensive in this regard , Budva started from 2000 euros per square. How much time it will take to snap off such a cute pie as the Adriatic coast, a large and inexpensive piece, is difficult to predict. The press heard opinions that Russians, as key buyers, need to create special conditions, but statistics show that so far few people are ready to implement this quite sound advice.
At the moment, a simplified receipt of residence permits, albeit not in fact, but psychologically stimulates real estate transactions in Montenegro. Since there is no minimum threshold, cheap housing options will be used. Accordingly, the proposals for small-sized and secondary housing will be much larger. But the entry into the North Atlantic Alliance these plans can correct: the prices will be adjusted automatically upwards. Raised to 0.25% tax and jumping exchange rates for the recovery of the market, too, do not affect the way we would like.
In short, the Montenegrin market is still quite positive, but the definition is still key.
This is an automatic translation.
Click here to read the publication in the original language.
