Russian real estate for sale in Montenegro

According to real estate agencies, Russians, who were previously the largest buyers of property on the Montenegrin coast, are increasingly becoming its sellers. Experts explain that the reasons for this are related to financial benefits, as selling in euros brings them a higher value in rubles, as well as the ongoing process of legalizing properties in Montenegro.

At the same time, new buyers from other countries, from Turkey to Scandinavia, are emerging and showing increasing interest in the Bay of Kotor. According to the Ministry of Internal Affairs, about 4,500 citizens of the Russian Federation have temporary or permanent residence in Montenegro. In Budva alone, local authorities report that there are around 3,600 properties owned by Russians.

However, real estate agencies note that for some time now, it has been evident that Russians are increasingly selling their properties, although there are still those who are buying. The economic crisis in Russia, the decline in the value of the ruble, and the increase in the cost of the euro have led to this situation, as Russians receive more money when selling real estate and converting it into their currency. Additionally, the process of legalizing properties in Montenegro has resulted in an increase in the number of people wanting to sell their real estate.

However, a quick sale and price reduction do not guarantee success, as it is unlikely that anyone would decide to buy illegal real estate. Property prices in the coastal cities of Montenegro depend on many factors.

Although a significant number of Russians are buying exclusive real estate, there are also clients from all over the world in the market. Clients from Turkey remain active and demanding. However, the market has become more diverse, with the presence of French, Scandinavians, Israelis, and clients from the USA. Additionally, the market is no longer concentrated solely in Budva. Kotor and Boka Kotorska are starting to benefit from their good reputation.

Overall, the process of legalizing real estate will bring positive results for future clients, although its impact on prices is still difficult to predict. By the end of the year, statistical data will be available that can be compared to last year.