How to get 30 square meters by the sea for 27,000 euros? A step-by-step guide: it's easy in Montenegro, and not harder in Italy and Croatia.

How to buyreal estate in Croatia?

If you are a non-resident of one of the EU member states, the principle of reciprocity comes into effect (only citizens of those countries where Croatian citizens can purchase real estate are allowed to acquire property). Additionally, foreign citizens cannot own agricultural land or property located in protected natural areas. If you are on the list of countries subject to the principle of reciprocity, you must submit an application for approval to the Ministry of Justice. You also need to provide a legal basis for the acquisition of property, proof of ownership from the seller, a certificate from the competent authority for urban planning and spatial planning, and proof of the buyer's citizenship, i.e., a passport. The entire process is carried out with the assistance of a real estate agency.

How to purchase real estate in Montenegro?

To purchase real estate in Montenegro, foreign citizens need a passport. Agencies recommend, in addition to their services, consulting a licensed lawyer who should conduct a thorough review of the documentation. If the seller and buyer agree on the terms of sale, a reservation agreement is first signed, and a non-refundable deposit (usually between 5,000 and 10,000 euros) is made to take the property off the market. Then, it is only necessary to conclude the purchase agreement, which must be signed by the lawyer. After signing the purchase agreement, it is necessary to register as the new owner of the property, and then you have your apartment on the coast.

How to purchase real estate in Italy?

The procedure for purchasing real estate in Italy is somewhat different. For example, agencies in Italy often require buyers to submit a written purchase offer and make a deposit. Therefore, many who have gone through this process recommend consulting a lawyer or advisor to avoid "translation errors." Once an agreement is reached with the agency, the lawyer's responsibility is to draft a preliminary contract, known as Compromesso. This does not mean the transfer of ownership, but it contains all the details of the sale, and the seller is given time to gather all the necessary documents by the sale date. The buyer, even if they are from Serbia, must have an Italian tax number and visit a notary who will certify the deposit specified in the preliminary contract. After the Compromesso is concluded, the notary prepares the final contract, and when it is signed, the buyer must pay the remaining amount specified in the contract, as well as all other fees and taxes.

Real estate prices on the coast of Montenegro

Budva is one of the most famous cities in Montenegro, so the prices per square meter reflect that. Together with Tivat and Herceg Novi, it is among the most expensive places. The price per square meter reached over 2,000 euros, which is why in 2022, prices per square meter increased by 40 percent. However, recent data shows that there has been a decline in apartment prices in this country for the third consecutive quarter. Currently, it stands at 1,389 euros, but the offerings on internet sites are diverse. A 37-square-meter apartment in Budva, in the Dubovica area, costs 75,000 euros. According to the listing, it is a one-bedroom apartment with a terrace, two-sided, registered, located 200 meters from the bus stop in a building from 2017, and requires no additional investments.

Real estate prices in Croatia

The Croatian coast has higher prices compared to other suggested destinations. For example, an apartment of about 42 square meters in Rijeka is offered for 116,000 euros, while a slightly larger apartment of over 50 square meters is around 155,000 euros. In Rovinj, a 42-square-meter apartment costs 145,000 euros. This is a two-level apartment in the center of Rovinj, on the second floor with a high attic for adaptation. The apartment comes with secured parking, which is an advantage, as parking can be a significant issue if you are traveling by car. Of course, there are many luxury homes and apartments in this area, with prices that can reach several hundred thousand euros and often exceed a million, especially in Opatija.

Real estate prices in Albania

During the coronavirus pandemic, Saranda was frequently visited by many Serbian tourists. Some data suggests that Scandinavian investors are investing here, and one of the advantages highlighted is the geographical location, as it is very well connected to neighboring countries by both land and sea routes. An apartment of 67 square meters in Saranda costs 55,000 euros. A larger apartment of 81 square meters is valued at 115,000 euros. We couldn't resist clicking on the headline "Two-bedroom apartment 5 minutes from the beach." The property priced at 27,000 euros is located in the Drač Shkembi i Kavajë area and is reportedly just a 5-minute walk from the beach and promenade. The apartment includes a living room, kitchen, bedroom, bathroom, with a total area of 65 square meters.

Property prices in Greece

Balkan tourists love the Greek seas and their recognizable Mediterranean spirit, which is why there is a great interest in real estate in this region. Interestingly, Greece is cheaper in some categories than our neighboring Montenegro. For example, in Thessaloniki, you can buy a 60-square-meter apartment for about 60,000 euros, as stated in one online ad. Or, a house on Thassos with an area of 84 square meters for 65,000 euros. Thassos and Halkidiki are very popular vacation destinations. A 60-square-meter apartment with three rooms is being sold for 110,000 euros. It is located 50 meters from the sea in the village of Kassandra. You can find larger properties, such as a 95-square-meter one in Sithonia, for 80,000 euros.