Dreaming of buying an inexpensive apartment in Montenegro? Especially for you we have created a separate area in the work of our real estate agency BŪREAU. Montenegro!
Working for a long time in luxury segment we have worked out a method of creating an exclusive price offer on the real estate market in Montenegro.
Initially, the consumers of this service were our clients who wanted to get a Montenegrin residence permit for real estate, while not flaunting their main property in the country. Especially for them, we have worked out a scheme of selecting unfinished houses, dividing them into apartments and pre-sale preparation of clean documents on them.
Such a method has allowed us to create an offer to buy high priced apartments in Montenegro.
As soon as we became confident in the efficiency of our approach we recalled many of our acquaintances and friends many of whom had long dreamed of buying a cheap apartment in Montenegro, but after the initial market research they understood that the common offer does not allow to buy an adequate holiday flat cheaper than 40-50 thousand that made them give up this idea. The price threshold for an apartment by the sea used several times a year for a vacation does not exceed 30 thousand euros. Then we decided to change the market situation and give our clients an opportunity to buy property in Montenegro at a comfortable price for a holiday apartment.
In parallel with this, we began to receive a large number of requests for low-cost apartments in the range of 10-15 thousand euros for a residence permit in Montenegro on the property. On this there are many reasons: Residence permit (borovak) on real estate allows year-round residence in Montenegro and not to suffer questions vizarans, expensive medicine and payment of tourist tax. In times of pandemic COVID-19 the situation around visaranschikam reached a critical point, and they found themselves in suspense with the probability of deportation and a ban on entry within 90 days. Just a residence permit (borovak) on the property allows for a Montenegrin tax residency at a rate of 9% and the possibility of reducing it to 6% in certain procedures. Having bought one of our low-cost apartments, after 5 years you will be able to obtain a residence permit (stalni borovak) and sell it, as you no longer need the basis for residence in Montenegro.
This situation convinced us even more that we must meet the challenges of our time and provide the market with a fresh solution!
Our affordable apartments are perfect for those who have decided to move to Montenegro for permanent residence or to start their own BnB business. Profitable purchase of real estate will help to establish yourself in this country, find your own home or start to earn a passive income from the rental business.
ABOUT OUR APARTMENTS
! Please note that our properties are on sale for a limited period as their prices have been reduced due to an emergency sale, or they will be auctioned off at the end of the offer period. Also most of our properties are on sale within one month of listing, as they are not priced similarly in the market.
Current flats in Montenegro
Yield offered by us for the purchase of low-cost apartments in Montenegro is 10% per annum!
The main objective of our project is to provide an opportunity to buy an apartment in Montenegro at a price 2-3 times lower than the market. Such an ambitious goal allows us to claim that our apartments are the most profitable way to get a residence permit and settle down in Montenegro, as well as provide a record for the market profitability.
The competence of our partners and team as well as our deep expertise in the real estate market enables us to find and create exclusive price offers. We select unfinished or fully completed detached houses for sale, splitting them into separate apartments and bringing the documents in accordance with international practice and Montenegrin laws. We also frequently deal with term sales, where the owner is selling due to some personal quandary. Due to this our prices have a limited validity period.
Let's look at the example of our first object: a house in the holiday village of Lastva Grbaljska.
A little background about the location: a quiet suburb of Budva, devoid of urban noise and seasonal traffic. Historically the area was a holiday village of Yugoslavian leaders. Location advantages: proximity to Budva and Tivat, as well as the best beaches in Montenegro, such as Jaz, Trstno and Ploce. Due to its historical and geographical peculiarities the area is a favorite destination for Serbian families who come in cars during the summer period. Likewise, long-term rentals work well throughout the year, relevant for those working in Budva and Tivat.
There were 7 apartments for sale in our building in different condition, area and price category:
- 2 one-bedroom apartments with finishes, separate entrance and terrace on the ground floor. 24 m2 of living space.
Apartment price: 15000 €.
- 1 Ground floor one-bedroom apartment with finishing, separate entrance and terrace 49 m2 of living space.
Price of the apartment: 37000€.
- 3 one-bedroom apartments on the first floor without finishing, with a balcony 24 m2 of living space.
Apartment price: 15000 €.
- 1 studio apartment on the first floor with finishing and balcony, 24 m2 of living space.
Apartment price: 17000€.
At the start of the sales 2 one-bedroom apartments with finishing on the ground floor were rented for a year to builders working in the area for 200 euros per month.
200 EUR/month is a good market price for a yearly rent of such apartment but we would recommend renovating it as visually pleasing apartments have an advantage on the rental market.
Let's calculate the approximate costs:
- Renovation of the house and the surroundings: 1000-1500 €, which includes thermal insulation and redesign of the facade, construction of full parking for 7-8 cars and fence.
- Apartment renovation: For a shell and core apartment a renovation will cost €1000-1500 and for an unfurnished apartment €3000-4000.
So we get about 2-5 thousand euros of additional investment, depending on the apartment purchased. What is the arithmetic that follows? Let's calculate by the example of small apartments:
- Completion of the ground floor apartment will cost 15000 € + 1500 € + 1500 € = 18000 €.
Yield of 2400 € per year = 13,5%
- Putting into service an unfurnished apartment on the ground floor will cost 15000 + 1500 + 3500 = 20000 euros.
Profitability of 2400 euros per year = 12%
- The commissioning of a finished apartment on the first floor will cost 17000 + 1500 + 1500 = 20000.
Profitability of 2400 euros per year = 12%
In calculating the maximum possible expenses that shows the possibility of increasing profitability by reducing the cost of home renovation and repair (by the way one of our buyers actually put the complete renovation and furnishing of the apartment without finishing in 2000 €, but he did it on his own). So you can see that rental income from our apartments is not under 10% per annum which is very good for the property market in Montenegro and apartments at sea in general.
If you have long been thinking about buying cheap apartment in Montenegro - our project is an ideal platform for you. Our apartments are really the most profitable way to get a residence permit (privremeni boravak) and permanent residence permit (stalni boravak) and leave the property with a large income.
Those who want to buy an apartment for themselves and settle down in Montenegro will appreciate our selection of properties and locations, as we offer really good options in suburban and quiet areas, as well as in the urban area, which stand out for their price category, and in most cases have no analogues!