How a Foreigner Can Buy an Apartment in Montenegro in 2025
Montenegro is one of the few European countries where foreigners can freely buy an apartment. Purchasing property gives the right to a residence permit, and the market offers both developer installment plans and bank mortgages. MD Realty founder Vyacheslav Maevsky spoke to Realting.com about property prices in Montenegro, document processing, and real returns.
Montenegro is one of the few European countries where foreigners can freely buy an apartment. Buying property gives you the right to a residence permit, and the market offers both developer installment plans and bank mortgages. The founder of MD RealtyVyacheslav Maevsky spoke about property prices in Montenegro, document processing, and real profitability in an interview with Realting.com.
Can foreigners buy an apartment in Montenegro?
Yes, without any restrictions. Montenegro is one of the few countries in Europe where real estate purchases are available to foreigners regardless of citizenship.
The process itself is quite straightforward:
In person: you come to the country, choose a property, sign the contract, and then the transaction is handled by a notary. Everything is as transparent as possible.
By power of attorney: if you cannot come in person, you can issue a power of attorney in your country, have it apostilled, and then your representative will complete the transaction in Montenegro.
As for payment, several channels are available today:
Through Zepter Bank — one of the main tools.
Cash — this option is still possible in transactions with private individuals.
Cryptocurrency — sometimes used in practice, but it all depends on the agreement between the parties.
And the main point: buying property in Montenegro is a direct path to a residence permit (RP). By purchasing a property, you gain the right to apply for an RP. First, a temporary residence permit is issued for one year, and it can be renewed annually. After five years of uninterrupted renewals, you can obtain permanent residence, and five years after that, apply for citizenship. In essence, this is the most accessible channel for legalizing life in the country.
How much does housing cost and can you get a mortgage?
Montenegro is a market with rising prices. To be honest, properties that can be called liquid and have “clean” paperwork cost from €100,000 and up.
The mid-range segment is €2500—€3500 per square meter.
Luxury complexes cost €4500—€12,000, and some premium projects reach €15,000.
There are different financial instruments:
Developer installment plan: most often provided for the construction period. No interest, with payments split by construction stages. This is convenient for investors who want to spread out the burden.
Bank mortgage: for foreigners the conditions are strict, but accessible. Usually the scheme is 50/50: you contribute half of the cost yourself, and the bank covers the other half. Rates are around 7–8% per year, and the loan term is 5–7 years. The key factor here is the “cleanliness” of the property: the documents must be in perfect order, without encumbrances or violations.
Since August 2025, a new legalization law has been in force (more here): illegally built houses or properties with violations of urban planning regulations are simply not registered. That means now not only banks, but also notaries automatically filter out “gray” real estate and work only with transparent projects.
The coast. A classic and the main magnet for investors. Tourist traffic is growing, rentals work year-round, especially in Budva, Tivat, and Kotor. According to MD Realty’s real estate analytics, the highest profitability and price growth are recorded here — the Budva and Bar Riviera, as well as the Bay of Kotor.
Podgorica. The capital always means long-term stability. The city is actively developing, the business sector is growing, which supports demand for long-term rentals. Profitability is moderate, price growth is around 2–3% per year above inflation, but the market is predictable.
The north of the country: Kolašin, Žabljak. A very promising direction. Winter resorts and leisure infrastructure are actively developing there, and new complexes are being built. Demand is growing, while prices are still noticeably lower than on the coast. For an investor, this is an entry point with strong potential.
If we talk about honest numbers, it is about 5% per year from rentals. That is what most properties actually generate. Yes, developers often promise 7–10%, but practice confirms exactly “five.”
At the same time, do not forget about the second source of income — the increase in the property’s value itself. If the property is chosen wisely and located in a sought-after area, it can be sold for significantly more after a few years.
The developer has an online RPT showcase, where you can view all offers in real time.
An important advantage: the project is bank-accredited, and buyers can get a mortgage — a rarity for Montenegro.
An installment plan for the entire construction period is also offered.
In short, transparent and clear terms are offered to the investor.
What should the buyer pay attention to
Here is what I would advise:
Check the developer: study the company’s reputation and its completed projects. This is a guarantee that the building will be completed and the documents will be in order.
Check the real estate agent: a good agent will become your partner — they know the market, understand the legal nuances, and help you avoid mistakes when choosing a property.
Keep an eye on the documents: even if an agent is involved, it is useful to understand yourself that after the new legalization law came into force, “gray” real estate simply cannot be registered.
Look at the area’s prospects: today you may have a sea view, and tomorrow a new building may rise in front of you. Always check what is planned on neighboring plots.
Assess the infrastructure: parking, elevator, access to shops and transport — these are factors that directly affect liquidity.
Be more careful with older “secondary” properties: Yugoslav-era houses and buildings from the 1990s often have no elevators, poor thermal insulation, and problematic utilities. Yes, the price is lower, but such real estate is harder to resell later.
About the role of the real estate agent
A good real estate agent is not a salesperson, but your partner. The Montenegro market seems simple, but there are many nuances: from checking documents to understanding legalization laws. A mistake here can cost tens of thousands of euros and lost time.
It is important that the buyer does not pay a commission, — the seller pays it. That means you receive professional support at no additional cost. But there is one condition: the real estate agent must be chosen correctly. A reliable agent works in your interests, helps you find a liquid property, checks its legal cleanliness, conducts negotiations, and protects you at every stage of the deal.
Going through all these processes on your own is risky, especially if you are not familiar with the local specifics. But with a skilled real estate agent, buying becomes not a stress, but a comfortable and clear process.
