Russians massively sell real estate in Montenegro at a price of up to 12,000 euros per square meter.

Russia, previously one of the biggest buyers of real estate on the Montenegrin coast, is now increasingly becoming its seller, according to real estate agencies we contacted. The reasons, they explain, are financial calculations, as they get a higher value in rubles when selling in euros, as well as the process of legalization of properties in Montenegro, which has begun. At the same time, new buyers from various countries, from Turkey to Scandinavia, are appearing, with the focus of interest increasingly shifting to the coast of the Bay of Kotor.

According to the Ministry of Internal Affairs (MIA), about 4,500 citizens of the Russian Federation have temporary and permanent residence in Montenegro.

But real estate agencies we contacted say that for some time now there has been a tendency for Russians to sell real estate more often, although there are still those who buy it. Ivan Ђurђevac of Montenegro Prospects in Kotor says the reasons are more often than not related to financial considerations. "Predominantly, it's due to the favorable exchange rate between the euro and the ruble for them, so that when they sell real estate here, they get more purchasing power at home when they convert that money into their currency. I believe these sales are driven primarily by market logic," says Ђурђevac.