Many citizens living in continental areas often think about how nice it would be to have their own property on the seashore. And while demand for apartments with sea views is growing, the question arises — how much does it cost to own a home in Montenegro, Croatia, Bosnia and Herzegovina, and Albania.
Beogradski Danas writes that, although inflation has affected the real estate sector as well, there are places where apartments can be found at affordable prices.
Albania
A furnished apartment in Golem, not far from the sea, costs about 44,500 euros for 63 square meters. Also in this place, studio apartments of 50 square meters each can be found for prices starting from 35,000 euros, furnished, the publication writes.
Apartments in Shëngjin, 90 meters from the sea, with an area of 63 square meters cost 51,500 euros, but without furniture. An apartment of 65 square meters near Mango Beach in Saranda costs 58,000 euros, and a two-bedroom apartment of 48 square meters in Orikum near Vlora — 48,000 euros.
In general, those planning to buy an apartment on the seashore in this country can expect to pay 1,000 euros per square meter.
Bosnia and Herzegovina
Neum is a small place and the only one in this country that has access to the sea. Because of this, there is less real estate, which means it is more expensive. Thus, an apartment of 37 square meters costs about 62,000 euros. A two-room apartment of 56 sq. m — 121,200 euros. On average, that comes to about 1,700 euros per sq. m.
However, more houses are being sold in this small town, so a 160-square-meter house right by the sea costs 665,000 euros (about 4,150 euros per sq. m.).
Croatia
As in previous years, Croatia leads in real estate prices, as evidenced by the new Eurostat results, which note that apartment prices in this country have risen by 17.3 percent.
A furnished apartment near the beach, in Štinjan near Pula, with an area of about 65 square meters costs about 210,000 euros. On the other hand, an 82-square-meter penthouse with a sea view in Crikvenica costs 390,000 euros. That is, on average, about 4,000 euros per square meter.
A three-room apartment with a sea view in Makarska, measuring just under 100 square meters, costs 285,000 euros and is located a 15-minute walk from the beach. In Opatija, a large apartment of 280 square meters with a sea view costs as much as 798,000 euros.
In this regard, it can be said that an apartment by the sea in Croatia cannot be found for less than 3,000 euros per square meter.
Montenegro
In Montenegro, apartment prices are rising rapidly, and owners usually rent them out for a year.
However, if you want a new two-room apartment in Rafailovići with an area of 40 square meters, it will cost you about 147,000 euros, that is 3,675 euros per square meter.
Budva is significantly more expensive, so a studio apartment 250 meters from the sea, with an area of 22 square meters, costs 75,000 euros.
On the other hand, a studio apartment of 36 square meters in a new complex in Bar can be found for a price starting from 72,000 euros or exactly 2,000 euros per sq. m.
A two-room apartment in Sutomore (52 sq. m.) costs 98,300 euros or 1,890 euros per square meter.
Why choose Montenegro?
Overall, buying real estate in Montenegro can be a profitable decision for investors looking for a place to invest in the Balkans. More affordable prices, a rapidly developing economy, and attractive conditions for work, leisure, and living make Montenegro one of the best options for buying real estate in the Balkans.
In addition to attractive real estate prices and a rapidly developing economy, Montenegro also offers good conditions for the rental business. The country has high demand for rental properties, especially in popular tourist areas. In addition, Montenegro offers a low level of taxation on income from property rentals.
Finally, Montenegro has great potential for tourism development and attracting foreign tourists. This could lead to increased demand for rental properties in the future and makes it attractive for investors looking for profitable opportunities for their business.