Investment property in Montenegro: what to buy and what it costs
Apartments for sale in six cities with minimum prices, yields, taxes on buying and owning.
In 2026 a square metre in Tivat and Kotor costs about $4,000-4,100 at asking prices, about $3,500 in Budva, about $3,000-3,100 in Bar and Herceg Novi and about $2,700 in Podgorica. A one-bedroom apartment by the sea in Ulcinj starts from $62,000, in central Podgorica from $65,000. Montenegro gives residence for a home with a tax value from $169,000 (150,000 euros), and from 1 November 2026 Russian and Belarusian citizens need a visa to enter, which the residence card replaces.
Below are seven apartments for sale now, from $62,000 in Ulcinj to $174,000 in central Podgorica for a residence permit, prices by city, rental yields, taxes on top of the price and the residence terms. A manager will confirm what is for sale today and the exact price.
The market in brief
Prices and rules as of 2026.
What properties investors buy in Montenegro
Seven apartments for sale in Montenegro now, from $62,000 to $174,000: Ulcinj, Bar, Budva, Tivat, Herceg Novi and Podgorica. The price, area, floor and condition are the seller's; a manager will send the documents, the cadastre extract and similar options to the chat.
A renovated south-facing one-bedroom apartment
from $62,000
A 41 m² apartment on the 1st floor in the Pinješ area of Ulcinj. It is renovated, empty and ready to furnish, with windows facing south. Ownership is recorded in the cadastre. Heating is electric and parking is shared. Ulcinj is the most affordable town on the Montenegrin coast. Such apartments in Ulcinj rent from $360 (€320) a month, about 7% a year.
A furnished one-bedroom apartment in the centre of the capital
from $65,000
A 40 m² apartment on the 5th floor in central Podgorica, sold furnished and in liveable condition. The building has no lift, so the apartment is priced at the bottom of the centre. In the capital tenants look for homes all year: such apartments rent from $450 (€400) a month, about 8.4% a year.
A one-bedroom apartment 300 metres from the beach
from $90,000
A 48 m² apartment on the 1st floor of a residential building in Šušanj, a seaside area of Bar: it is renovated and partly furnished. Šušanj beach is 300 metres away. Such apartments in Bar rent from $450 (€400) a month, about 6% a year, and more by the day in summer.
A one-bedroom apartment in a new building 5 minutes from the sea
from $98,000
A 48 m² apartment on the 3rd floor of 4 in a new building with a lift in Bečići, next to Budva, sold with furniture and appliances. The sea is a 5-minute walk away. Ownership is recorded in the cadastre. Such apartments in Budva rent from $450 (€400) a month, about 5.5% a year, and more by the day in summer.
An apartment with a terrace, furniture and its own parking space
from $117,000
A 42 m² apartment with a 10 m² terrace on the 1st floor in the Topla area of Herceg Novi. It is renovated except for the kitchen cabinets, which still need fitting. It is sold furnished, with air conditioning and internet. It has its own parking space and video surveillance, a health centre is nearby, and the documents are clean. Such apartments in Herceg Novi rent from $400 (€350) a month, about 4% a year.
A two-bedroom apartment to renovate by the Tivat marina
from $130,000
A 48 m² two-bedroom apartment on the 5th, top floor of a building without a lift in Seljanovo, the area by the Tivat marina, a few minutes from the airport. It needs renovation, is sold furnished, and ownership is recorded in the cadastre. It is the most affordable two-bedroom apartment in Tivat: the next ones cost from $200,000 (€178,000). Such apartments in Tivat rent from $680 (€600) a month, about 6.3% a year.
A fully renovated three-bedroom apartment for a residence permit
from $174,000
A 74 m² apartment on the 3rd, top floor of a small building in central Podgorica: a living room, a kitchen with a dining area, three bedrooms and a bathroom. It has been fully renovated: a new roof, plumbing, wiring, floors, doors, appliances and air conditioning. It is sold furnished because the owners are moving, and the documents are in order. For a residence permit the tax value must be at least $169,000 (150,000 euros), and it is checked before the deposit. Such apartments in Podgorica rent from $850 (€750) a month, about 5.8% a year.
The price is the seller's price in 2026, in dollars rounded up to the thousand, in euros in brackets. Each apartment costs no more than the lowest price of similar apartments in the city plus 10%, the residence permit apartment from the threshold of $169,000 (150,000 euros). The monthly rent comes from long-term rental listings for similar apartments in the city. The floor follows the Montenegrin count in the listing. We check the cards monthly and replace a sold apartment with one of the same type and price.
How much an apartment costs in Montenegrin cities in 2026
According to Montenegro's statistical office, in the second quarter of 2026 a square metre in a new building cost about $2,900 (2,557 euros) on average, 16.2% more than a year earlier. The Bay of Kotor is the most expensive, with Tivat and Kotor, and Ulcinj in the south of the coast is the cheapest.
| City | Price per m², asking | 50 m² apartment |
|---|---|---|
| Tivat | ~$4,100 (3,670 euros) | ~$206,000 |
| Kotor | ~$4,000 (3,590 euros) | ~$202,000 |
| Budva | ~$3,500 (3,130 euros) | ~$175,000 |
| Herceg Novi | ~$3,100 (2,790 euros) | ~$157,000 |
| Bar | ~$3,000 (2,660 euros) | ~$149,000 |
| Podgorica | ~$2,700 (2,430 euros) | ~$137,000 |
| Ulcinj | ~$2,100 (1,900 euros) | ~$107,000 |
Data for 2026: the average asking price of apartments by city; dollars at 2026 exchange rates.
What yield renting out gives
The gross yield from long-term rent in Podgorica is about 6.4% a year before tax: in the capital tenants look for homes all year. The apartments in the cards in Podgorica rent at 5.8-8.4%, on the coast at 4-7%, and in summer apartments by the sea let for more by the day.
| Tax | Rate |
|---|---|
| Income from letting a home | 15% plus a municipal surtax of 13% of the tax, 15% in Podgorica and Cetinje |
| Sale | 15% of the gain plus the same municipal surtax |
| Annual property tax | 0.25-1% of the market value, set by the municipality |
| Short-term letting | registration with the municipal tourist organisation and a tourist tax per guest |
Data for 2026: the yield is the Podgorica average; countries are compared in the rental yield table.
In 2023 Russia suspended the main articles of its double tax treaty with Montenegro, so tax on rent is paid in Montenegro. Rates and examples are on the page taxes in Montenegro.
What costs to add to the property price
| Payment | Amount |
|---|---|
| Transfer tax on resale | 3% up to $169,000 (€150,000), 5% on the part of the price up to $562,000 (€500,000), 6% on the part above |
| New building from a developer | 21% VAT is already in the price, no transfer tax |
| Notary | a scale fee based on the price; the notary certifies the sale contract |
| Entry of title in the cadastre | a cadastre fee; ownership is proved by a cadastre extract |
| Annual property tax | 0.25-1% of the market value |
Data for 2026. The transfer tax is calculated on the market value assessed by the tax administration, which can be higher than the contract price. A manager calculates the total for a specific apartment.
In Montenegro the apartment is checked against the cadastre before the deposit
Mistakes cost more than the tax: an apartment missing from the cadastre or recorded with a different area, a developer contract at the foundation stage instead of ownership, a tax assessment below $169,000 (150,000 euros) that gives no residence. Murblz support removes these risks: we find a property for the budget and goal, check the cadastre, encumbrances and permits, verify the tax value before the deposit and take the deal at the notary through to registration of title.
The cost of support depends on the purchase budget and the goal - investment, living by the sea or a residence permit; a manager calculates it in the chat.
Does buying give a residence permit
Yes, from $169,000. The owner of a home with a tax value from $169,000 (150,000 euros) gets temporary residence, renewed while the home is owned. The tax value is set by the tax administration and does not always match the contract price, so an apartment near the threshold is checked before the deposit. The three-bedroom apartment in central Podgorica in the cards meets the threshold, and a manager will send other apartments from this amount to the chat.
From 1 November 2026 Russian and Belarusian citizens need a visa to enter Montenegro, and the residence card replaces it. Spending more than 30 days in a row outside Montenegro ends residence based on a home, so trips are planned ahead; permanent residence is granted after 5 years of continuous living in the country. Montenegro closed its citizenship by investment scheme at the end of 2022. More on the page Montenegro residence permit.
How we find a property
- Budget and goal: investment, a home by the sea, a residence permit. The manager clarifies the city, district and how you will pay.
- A selection of real properties: apartments with the seller's price, floor area, floor and a yield calculation.
- Checks: the cadastre extract, encumbrances, the occupancy permit of the building, the tax value for residence.
- A remote deal by power of attorney: a contract with a deposit, the sale contract at the notary, the transfer tax and the cadastre entry.
The manager sends the selection to the chat, with sellers' prices on the date of the selection.
Options in other countries
Investment property in other countries:
- Investment property in Turkey: what to buy and what it costs
- Investment property in the UAE: what to buy in Dubai and what it costs
- Investment property in Serbia: what to buy and what it costs
- Investment property in Brazil: what to buy and what it costs
- Investment property in Georgia: what to buy and what it costs
- Investment property in Spain: what to buy and what it costs
- Investment property in Italy: what to buy and what it costs
- Investment property in Bulgaria: what to buy and what it costs
- Investment property in Cyprus: what to buy and what it costs
More on buying in this country:
- Property in Montenegro for foreigners: rules, taxes and the deal
- How to buy an apartment in Montenegro
- Montenegro residence permit
- Taxes in Montenegro
- Podgorica: what to see and whether to move there
All countries and budgets compared - on the page Investment property abroad.
FAQ
How much does an apartment in Montenegro cost in 2026?
Can foreigners buy property in Montenegro?
Does buying an apartment give residence in Montenegro?
What yield does letting an apartment in Montenegro give?
What taxes apply when buying an apartment in Montenegro?
Do Russians need a visa for Montenegro?
Where to buy an apartment for investment in Montenegro?
Can I buy an apartment in Montenegro remotely?
Don’t want to figure this out alone?
We handle the whole process end to end: we shortlist properties for your goal, run legal checks and support the deal through to registration. Ask your question in the chat: the free consultation starts right here. Legal representation before authorities and courts is handled by Murblz specialists together with locally licensed partners.
The Murblz consultant replies straight away in the chat on this page. Describe your situation and we will work it out together.
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