Montenegro is still in its development stage which makes it an ideal place to invest in property and develop with it. The prices are lower now, but when development reaches its peak then the prices will be much higher. Here are some helpful tips to help you when investing in property in Montenegro. It is rated as one of the top five overseas investment destinations, perfect for speculation.
KNOW WHAT YOU WANT
You have to bear in mind the specific type of property you want to invest in, there is a varied range of property to invest in from land parcels to holiday homes and villas. You can also invest in residential property that you can let. Once you have already established the kind of investment you want to make, it is easier to streamline the proper region that suits the kind of property. If it is a holiday villa the ideal location would probably be along the shores of the Adriatic Sea; for residential letting property the cities would be suitable.
DO YOUR HOMEWORK PROPERLY
Once you have decided on the location of your investment, do a careful research of that particular region; identify the social amenities that may add value to your property. For example if you are buying a holiday villa you may consider other facilities that are being developed in that same region that would increase the value of your property such as golf courses, airports and infrastructure. The growth in the tourism industry will positively affect property in Montenegro which means buying now increases your future returns. Montenegro is always in short of holiday rentals in the summer due to the ever increasing number of tourists, so holiday apartments and villas would be a starting point.
IDENTIFY A GOOD AGENT
Having a good agent by your side will go a long way in helping you find the best deals in the market. It may seem expensive to hire an agent but remember a local agent may have useful information that you may not find anywhere else. The agents are knowledgeable in this type of business and when it comes to comparing prices then you will be in great hands. There are no boards where you will easily compare prices and little bit of field work is needed; this is where the services of a good agent will come in handy.
GET A LAWYER
The process of buying property is lengthy and difficult not only in Montenegro but in any part of the world. Legal issues can make or break a deal, no matter how juicy the property you have identified. The services of an attorney will come in handy to help you easily navigate this tasking process. There are contracts to be drawn and all the law jargon to understand….boring work. Local lawyers here have an advantage especially because the property that you are buying is not within your country where the laws are quite familiar. If you are armed with an efficient lawyer then you are good to go.
MAKE THE BIG MOVE
One of the advantages of buying property in Montenegro is that the buying process is straight forward and cost and taxes are cheap. Once you are armed with the right information, you are now ready to become the next great investors of our times. Don’t hesitate to dive right in, wisely walk into the investment. The returns in the future will surely make you smile.