Property Tax in Montenegro

The cost of buying an object can immediately include a one-time payment from the turnover of real estate. Its size is 3% of the estimated cadastral value. The tax authority generates this value based on the data of the evaluation commission, comparing the data in the agreement with the market value of housing in this area.

The buyer receives an official notice of the need to pay tax by mail at the address specified in the contract. At the same time, there is a real opportunity to save your own money. Local law exempts the buyer from the need to pay property tax if the property is purchased from a developer who previously paid VAT during construction.

The commission is usually paid to the intermediary by the seller. In some cases, when buying a secondary home, commission costs (1,5-3%) are borne by the buyer. The cost is formed from the amount of the transaction.

Notary services for foreigners buying real estate in Montenegro

The general expenses for the purchase of real estate in Montenegro will also include notary services. The size of these payments is very modest and depends on the price of housing purchased.

Approximate notary fees are shown in the table:

Transaction Amount (Euro):	Tariffs for notary services (euro):
20 000 - 49 999	250
50 000 - 79 999	350
80 000 - 119 999	450
120 000 - 169 999	500
170 000 - 219 999	550
220 000 - 269 999	600
270 000 - 319 999	650
320 000 - 369 999	700
370 000 - 419 999	750
420 000 - 469 999	800
470 000 - 519 999	850
520 000 - 569 999	900
570 000 - 619 999	950
620 000 - 670 000	1 000

Prices for services are indicated without VAT, which is 21% of the amount.

Translation services for buyers in real estate in Montenegro

Additional small expenses when buying property in Montenegro for our compatriots are also the services of a certified professional translator:

for interpretation - 50 euros per hour;
for translation - 20 euros per page of text.

Given that a standard contract of sale takes 8-10 pages, the cost of translation of the entire document is 160-200 euros.

Conclusions

Undoubtedly, buying property in Montenegro is very profitable. Because:

The tax rate on the purchase of housing in the secondary market of this Balkan country is only 3% of the cost.
The buyer is exempt from this tax when purchasing housing in the primary market, if the developer paid VAT during the construction.
Agency commission is almost always paid by the seller.
The cost of notary and translation services is affordable.
Favorable conditions for the purchase of magnificent land and housing offers you our company MD Realty.
With us you can purchase land, an apartment or a house in Montenegro at reasonable prices.

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