In 2022, from January to October, foreign citizens and foreign companies purchased real estate in Montenegro worth 370 million euros, which is significantly more than a year earlier, according to central bank data.
Data on real estate sales for November and December of last year will be known in March, but, according to expectations, turnover in these months could amount to around 60-70 million, so the total value of real estate sold to foreigners could reach 430 to 440 million euros, writes Vijesti.
In total, in 2021 foreigners spent 278 million euros on buying real estate in Montenegro, in 2020 – 116 million, in 2019 – 178 million, in 2018 – 182 million. Over the past five years, foreigners have bought Montenegrin real estate worth 1.2 billion euros.
The growth in real estate sales to foreigners last year was most strongly influenced by the implementation of the economic citizenship program, where by purchasing real estate — apartments in tourist centers in the south for 450 thousand euros and in the north and in underdeveloped municipalities for 250 thousand — they obtained the right to receive citizenship.
The publication writes that another reason is that during periods of inflation, as was the case last year, many people decide to buy real estate as one of the safer ways to ensure that their money does not lose value.
Montenegro was attractive to foreigners as a developing country with great tourism potential and because of the large number of exclusive tourism-residential projects such as Porto Montenegro, Portonovi,