Where to Buy a Property in Montenegro

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Montenegro is a small country about the size of Northern Ireland. It prides itself on a scenic coastline that hugs the Adriatic Sea and is approximately three-hundred kilometres long. The country may be small but it offers a wealth of natural beauty: five national parks, mountains and hiking trails, hidden bays, sandy beaches, and ski resorts in the north of the country. 
 


Boka Kotorska Bay


This is, without a doubt, one of the most beautiful bays in the world. High mountains surround the bay and are reflected in the crystal blue waters of the Adriatic Sea. The road that circles the Bay of Kotor passes through a chain of charming villages and small towns with ancient stone houses, seafront villas, and modern apartment buildings. The tall mountains limit building sites so that most properties are located close to the sea with stunning seascapes. 
 
The Old Towns of Kotor and Perast are magical places and well preserved medieval towns. They are UNESCO world heritage sites, and when properties come up for sale prices are generally higher compared to other areas around Boka Bay. However, they have excellent rental potential and are good investments. 

 

Tivat 


This is a vigorous town with a fashionable waterfront: a place to sit in the sun and relax. It is a favourite location for yacht enthusiasts because Porto Montenegro features a world-class marina. The luxury resort offers hotels, condos, upscale boutiques, and seaside dining and since its inception has transformed the area, making it a sought-after destination. 
 
Close by is Lustica Bay, a new development: marina town with five-star hotels, golf facilities, and waterfront properties located on a small bay situated on a peninsula with the same name. This place is pretending to become a new town in Boka Bay, with big plans for development and investment. 

 

Herceg Novi 


This city is known as a very sunny place. The old town with restaurants is beside the sea and is a famous gathering place. Following the coastline is a lengthy promenade where people can stroll day and night. Steps that lead away to and from the sea will show the way to quaint areas on hillsides with homes and apartment buildings tucked away on the narrow curving roads.  
 
PortoNovi is a brand new marina, located on a short distance from Herceg Novi city centre, and it is an exclusive resort with luxurious residential units for sale. 
 

A typical one-bedroom apartment with sea views in Bay area sells for 90.000 - 120.000 EUR and for a two-bedroom apartment you can expect to pay 150.000 to 170.000 EUR. Of course, real estate prices vary depending on location and proximity to the sea, size, views, and detailed finishes. House prices start at 150.000 - 200.000 EUR. Waterfront villas are the most expensive properties starting at 450.000 EUR. 

 
The main international airport serving the Montenegrin coast is located near Tivat. There are two international schools in the region. You can find many interesting properties in Kotor Bay on this link.
 


Budva Riviera


...lies at the heart of Montenegrin coast, with its beautifully preserved old town and fantastic beaches. A buyer looking for a modern state-of-the-art apartment can find the perfect property in Budva.
 

Property prices here vary: apartments in modern, new developments close to the sea, start at 130.000 – 150.000 EUR for a one-bedroom, and 180.000 – 200.000 EUR for a two-bedroom. Farther from the sea, apartments sell for an average of 1500 - 1700 EUR /m2. You can find one bedroom furnished apartment for 75.000 EUR and a two-bedroom furnished apartment for 90.000 -120.000 EUR.

 
The Budva coastline continues for twenty-one kilometres with seventeen beaches, including the iconic Sveti Stefan. Originally, Sveti Stefan was a fishermen village, but the old stone houses with red-tiled roofs on the island have been transformed into a five-star closed resort operated by Aman Resorts. There are a limited number of apartments for sale in this exclusive area surrounded on three sides by forests and overlooking the island and the Adriatic Sea, but worth an investment.  
 
If you are looking to buy a house with garden, located in a peaceful place, it is worthwhile to visit villages along the coast: Kuljace, Blizikuce, Rezevici... These old villages have the Mediterranean ambience with olive groves, gardens, and stunning views of the sea. Charming villas start around 400.000 EUR. 
 
Further south is Petrovac, a beautiful coastal town located halfway between Budva and Bar. You can find many interesting properties in Budva on this link.
 


The city of Bar


...is the largest coastal town in Montenegro. The new town features pleasing architectural styles, modern squares, coastal promenades and wide boulevards with a variety of Mediterranean plants: palms, pines, oleanders and agaves. Overlooking the new town is the beautiful old town with an ancient archaeological site. Bar has a vibrant port that connects Montenegro with Italy, on a regular ferry line Bar to Bari. One-bedroom apartments in new buildings close to the sea, start at 65.000 EUR. Two-bedroom apartments sell for around 95.000 EUR. The price per sq m is from 1.300 to 1.500 EUR. 
 
Unlike Budva, there are more houses for sale in Bar especially in the area between Bar and Ulcinj - villages Dobra Voda, Utjeha, Kruce. The prices vary depending on location and quality of the building, but generally, they are less expensive compared to other areas along the coast. Two/three-bedroom houses start at 100.000 EUR.
 
Bar has a good road infrastructure, and the railroad that connects Bar with Belgrade, Serbia. The international airport in the capital, Podgorica, is approximately forty-five minutes by car. 
 
Lake Skadar National Park is the largest freshwater lake in the Balkans. Located in Bar municipality, it is becoming one of the hot spots for tourism in Montenegro. This is known as the wine region of Montenegro with many small, family-run wineries. Property available here consist of old stone houses that are sometimes available for sale.
 
 

Ulcinj


...is the southernmost city on the Montenegrin coast and boasts the longest beach on the Adriatic Sea, known as Velika Plaza, 13 km long. The area features restaurants, cafés, art galleries, and hotels. Ulcinj is an ancient place with a long varied history. To the south of Velika Plaza, lies Ada Bojana, a river island with naturist camp and sandy beaches. Valdanos Bay with its unique coastline has ancient olive trees and is near the reconstructed city of Ulcinj. 
 
The apartment prices are similar to the ones in Bar. List of properties in Bar and Ulcinj is on this link.

 

Zabljak and Kolasin

...are the main travel spots in the north of Montenegro. Zabljak is a lovely mountain town at 1450 m above sea level, Durmitor National Park and Tara Canyon are a paradise for nature lovers. With a cooler climate, Zabljak is popular during the summer season. Re property prices, two-bedroom wooden cottages start at around 50.000 – 60.000 EUR.
 
Kolasin is a small town in the north of Montenegro. It has 2 ski resorts - Kolasin 1450 and Kolasin 1600. Bianca Resort and Spa is a five-star hotel in the centre of this town. Biogradska Gora National Park is fifteen minutes drive away. A new highway connecting Podgorica and Kolasin is expected to open in 2020-2021 and will shorten the travel time to thirty minutes, plus will add a great connection to Croatia, Serbia and further to central Europe. 

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For all questions regarding the property in Montenegro, feel free to contact our expert Ivana.