Written By: Jacquelyn Annete García Vadnais
Global real estate investors have been searching for a locale within Europe that still has affordable prices with the opportunity for substantial returns. One market that has seen a great deal of potential in recent years is the real estate market in Montenegro. Within Montenegro, the capital city of Podgorica continues to be a great locale for global real estate investors. Due to the rich history and culture in Podgorica, Montenegro, there are many great sites, restaurants, and events for both residents and tourists to enjoy regularly. Real estate investors that are considering Podgorica, Montenegro can absolutely benefit from renting property to long-term or short-term tenants. If you are considering investing in property in Podgorica, Montenegro, then it is highly recommended to review the information listed below:
History of Montenegro
Montenegro is located in a part of Europe that has a diverse history and culture due to the many transitions of power over the years. The first known people to inhabit the region were during the late Iron Age. Then, maritime Greeks created coastal colonies in close to 400 B.C. In 168 B.C. the Romans conquered the territory. When the Romans took control of Montenegro, they established roads, trade routes, and forts spanning from the Danube to the Aegean. The Romans founded the province of Dalmatia, and it included Montenegro along with a town called Doclea, which is present-day Podgorica. The Ottoman Turks took over Montenegro in 1496. After a long period of rule, Montenegro finally became an independent Kingdom in 1910, however in 1918 Serbia annexed Montenegro into the Kingdom of Yugoslavia. After World War II, a unified territory called the Yugoslav Federation was formed, and it was not until 2006 that The UN received Montenegro as the 192nd country member. Modern day Podgorica sits at the confluence of the Morača, and Ribnica rivers, and reflects Montenegro’s rich history in its variety of mosques, churches, and places of worship,as well as beautiful architecture, food, and entertainment.
Important Reasons to Consider Investing in Real Estate in Podgorica, Montenegro
Below is a list of important reasons to consider investing in real estate in Podgorica, Montenegro:
Housing Prices Are Lower
Real estate prices are currently falling in Podgorica, Montenegro, which means it is an ideal time to buy property while prices are lower. There are a surge of Russian property owners selling their properties while the economy and tourism is picking up. This means that if property owners that buy their real estate at a lower price rent the property to tenants and wait for several years, they may see a substantial return on their investment due to the increase in price of real estate in the years to come from the tourism boom and prospective economic development.
Tourism Is Increasing
Tourism continues to increase in Montenegro due to the spectacular footage that appears in blockbuster movies showcasing the many wonderful sites to enjoy within the country. Each year, Montenegro brings in more than its total population in tourism alone, and this number is only increasing year after year.
Economic Boom
There is a great deal of economic potential within Montenegro given that it has some of the lowest capital gains tax within Europe. Montenegro utilizes the Euro currency but is not an official member of the European Union as of yet. Montenegro is also being considered for formal admission to the European Union in the next five to seven years, which will bring a great deal of business to the country. Currently, Montenegro is using only 20% of its potential hydropower.
Potential Temporary Residency Through Real Estate Investment
The government in Montenegro recognizes the importance of making Montenegro accessible to foreign direct investors. This is precisely why it is possible to obtain temporary residency through real estate investment. So long as the foreign investor owns a house, hotel, restaurant, apartment, or condo, it is possible to have a year temporary residence permit that is renewable. Currently, there are no minimum size limitations on the real estate investment.
Low Property Taxes
Currently, Montenegro has very low property taxes. The range of property taxes ranges from 0.1% to 1%. In terms of income generated from a property, the income is taxes at 9%. Capital gains are also at 9%. Due to these low rates, the conditions are quite favorable to prospective real estate investors.
Final Remarks
Podgorica, Montenegro, offers many opportunities for prospective foreign real estate investors to buy the property at a lower price and have a substantial return in the mid-term. The reason for this is that Montenegro is currently about to undergo admission to the European Union, which is going to open many substantial doors for economic development in spite of the existing economic boom that is occurring in Montenegro. The increased tourism offers the potential for property owners to make income from hosting tourists in the country. Due to the fact that property prices are currently falling, it is an opportune time for real estate investors to have a lower cost to purchase property in Montenegro before an inevitable surge in value will occur. It will be fantastic to see how Montenegro’s real estate market progresses in the future due to the exceptional economic developments that are will be ongoing in the coming years.
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Jacquelyn Annete Garcia Vadnais is an Investment Consultant and field expert blogger for Barracuda Consulting.
Jacquelyn has a JD/ MBA from Suffolk University, an LL.M in International Law from the University of Miami, and a B.A. from the George Washington University in International Affairs with a Concentration in International Politics. Jacquelyn speaks English, Spanish, French, and Portuguese and has lived in ten countries. Jacquelyn has done work for firms such as Boston Consulting Group and has worked with firms based in over ten countries in the fields of Real Estate, International Law, Expat Living, International Business, Forex Trading, and Travel. She has also volunteered her time and expertise at the Victims Rights Law Center based in Boston, MA.
Please leave your comments below. If you would like to subscribe to our newsletter, click here: https://tinyletter.com/barracuda-consulting. To purchase a full real estate report, or to access a complete suite of investment advisory services please contact us: https://www.barracuda-consulting.net/contact.
Global real estate investors have been searching for a locale within Europe that still has affordable prices with the opportunity for substantial returns. One market that has seen a great deal of potential in recent years is the real estate market in Montenegro. Within Montenegro, the capital city of Podgorica continues to be a great locale for global real estate investors. Due to the rich history and culture in Podgorica, Montenegro, there are many great sites, restaurants, and events for both residents and tourists to enjoy regularly. Real estate investors that are considering Podgorica, Montenegro can absolutely benefit from renting property to long-term or short-term tenants. If you are considering investing in property in Podgorica, Montenegro, then it is highly recommended to review the information listed below:
History of Montenegro
Montenegro is located in a part of Europe that has a diverse history and culture due to the many transitions of power over the years. The first known people to inhabit the region were during the late Iron Age. Then, maritime Greeks created coastal colonies in close to 400 B.C. In 168 B.C. the Romans conquered the territory. When the Romans took control of Montenegro, they established roads, trade routes, and forts spanning from the Danube to the Aegean. The Romans founded the province of Dalmatia, and it included Montenegro along with a town called Doclea, which is present-day Podgorica. The Ottoman Turks took over Montenegro in 1496. After a long period of rule, Montenegro finally became an independent Kingdom in 1910, however in 1918 Serbia annexed Montenegro into the Kingdom of Yugoslavia. After World War II, a unified territory called the Yugoslav Federation was formed, and it was not until 2006 that The UN received Montenegro as the 192nd country member. Modern day Podgorica sits at the confluence of the Morača, and Ribnica rivers, and reflects Montenegro’s rich history in its variety of mosques, churches, and places of worship,as well as beautiful architecture, food, and entertainment.
Important Reasons to Consider Investing in Real Estate in Podgorica, Montenegro
Below is a list of important reasons to consider investing in real estate in Podgorica, Montenegro:
Housing Prices Are Lower
Real estate prices are currently falling in Podgorica, Montenegro, which means it is an ideal time to buy property while prices are lower. There are a surge of Russian property owners selling their properties while the economy and tourism is picking up. This means that if property owners that buy their real estate at a lower price rent the property to tenants and wait for several years, they may see a substantial return on their investment due to the increase in price of real estate in the years to come from the tourism boom and prospective economic development.
Tourism Is Increasing
Tourism continues to increase in Montenegro due to the spectacular footage that appears in blockbuster movies showcasing the many wonderful sites to enjoy within the country. Each year, Montenegro brings in more than its total population in tourism alone, and this number is only increasing year after year.
Economic Boom
There is a great deal of economic potential within Montenegro given that it has some of the lowest capital gains tax within Europe. Montenegro utilizes the Euro currency but is not an official member of the European Union as of yet. Montenegro is also being considered for formal admission to the European Union in the next five to seven years, which will bring a great deal of business to the country. Currently, Montenegro is using only 20% of its potential hydropower.
Potential Temporary Residency Through Real Estate Investment
The government in Montenegro recognizes the importance of making Montenegro accessible to foreign direct investors. This is precisely why it is possible to obtain temporary residency through real estate investment. So long as the foreign investor owns a house, hotel, restaurant, apartment, or condo, it is possible to have a year temporary residence permit that is renewable. Currently, there are no minimum size limitations on the real estate investment.
Low Property Taxes
Currently, Montenegro has very low property taxes. The range of property taxes ranges from 0.1% to 1%. In terms of income generated from a property, the income is taxes at 9%. Capital gains are also at 9%. Due to these low rates, the conditions are quite favorable to prospective real estate investors.
Final Remarks
Podgorica, Montenegro, offers many opportunities for prospective foreign real estate investors to buy the property at a lower price and have a substantial return in the mid-term. The reason for this is that Montenegro is currently about to undergo admission to the European Union, which is going to open many substantial doors for economic development in spite of the existing economic boom that is occurring in Montenegro. The increased tourism offers the potential for property owners to make income from hosting tourists in the country. Due to the fact that property prices are currently falling, it is an opportune time for real estate investors to have a lower cost to purchase property in Montenegro before an inevitable surge in value will occur. It will be fantastic to see how Montenegro’s real estate market progresses in the future due to the exceptional economic developments that are will be ongoing in the coming years.
--
Jacquelyn Annete Garcia Vadnais is an Investment Consultant and field expert blogger for Barracuda Consulting.
Jacquelyn has a JD/ MBA from Suffolk University, an LL.M in International Law from the University of Miami, and a B.A. from the George Washington University in International Affairs with a Concentration in International Politics. Jacquelyn speaks English, Spanish, French, and Portuguese and has lived in ten countries. Jacquelyn has done work for firms such as Boston Consulting Group and has worked with firms based in over ten countries in the fields of Real Estate, International Law, Expat Living, International Business, Forex Trading, and Travel. She has also volunteered her time and expertise at the Victims Rights Law Center based in Boston, MA.
Please leave your comments below. If you would like to subscribe to our newsletter, click here: https://tinyletter.com/barracuda-consulting. To purchase a full real estate report, or to access a complete suite of investment advisory services please contact us: https://www.barracuda-consulting.net/contact.
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