Montenegro has been popular for many vacationeers who are looking for fascinating beaches and nightlife on the coastline while for skiing experiences and winter holiday on the northside for the last decade. This small country who has been attracting tourists especially from Serbia, Russia and Ukraine is recently in the focus of tourists from Turkey, Bosnia, Germany, Hungary and even the USA and Africa. The boom of tourism has also influenced real estate market in the country dramatically, which is enabling Montenegro to be much more attractive for investors from all around the world day by day. Here are the main reasons why to invest in Montenegro:
- Thriving tourism market has become the main reason. In 2019, 2.645.217 people visited Montenegro. In spite of the recession during Covid-19 which adversely affected the tourism all around the world in 2020, the country has recovered from it very quickly. According to data from the Statistical Office of Montenegro (MONSTAT), a total of 1.670.879 tourist arrivals were recorded in 2021 and 2.183.975 tourists arrived in Montenegro in 2022. Even though the season for 2023 is just starting, it is expected right now top number of tourists during the season this year by assessing the winter months which indicates that the number of visitors in Montenegro have doubled compared to the same month of the previous years. (You can check https://www.monstat.org/eng/page.php?id=1620&pageid=44 for more details). As is the case, investors from Serbia, Bosnia, Russia, Ukraine, Germany and Turkey are flocking into the country in order to buy an apartment and rent it via Airbnb, Booking etc.
- Procedures of buying a real estate in Montenegro is same for foreigners as the locals. It is very straightforward. You search for a property and when you decide to buy it, you or your agency simply need to organize an appointment at the notary and you can buy your property with your passport. There is no extra process for foreigners while buying a property. The moment when you complete your payment, that property is yours. Simple!
- Due to this high demand in properties, the values of real estates are increasing dramatically. It is guaranteed the price of any property you buy right now will increase fast in a few months. In addition, rental yields are also very high. The return of your investment will be most probably between 10-15 years.
- The best part is yet to come! Montenegro is favourable for many investors in terms of taxes. Income and corporate tax is 9%. For many Europeans and Turkish people, this is really attractive.
- The climate in Montenegro is among these main reasons, of course! It has a warm climate and it is possible to enjoy the sunny days by breath-taking Adriatic beaches.
All in all, it is TIME to invest in Montenegro if you wish to make a good and profitable investment!