'Serbs buy real estate on the coast: Exact price and method of acquisition'

Published: 26.03.2023, 10:30

In our hail, the interest for buying real estate at the sea is growing every spring. And it is fully justified, given that real estate on the coast is often cheaper than in Belgrade. The biggest demand from our citizens is certainly for real estate in Greece and Turkey. For example, an apartment in Halkidiki with an area of 50 square meters is priced less than a studio in our capital, i.e. 38,000 euros. On the other hand, Croatia and Montenegro are price leaders. Properties in these countries can cost several hundred thousand euros and sometimes even a million if you are looking for a good location.

In the past year, real estate prices in Montenegro have increased by 40 percent over''compared to the previous year. The most popular and expensive places in this country are undoubtedly Budva and Tivat. Speaking specifically about Budva, a studio can be found for 50,000 euros, while prices for one-bedroom apartments reach 64,000 euros, and for slightly larger two-bedroom apartments around 90,000 euros. Prices for luxury apartments in this city are quite serious. An apartment of 68 square meters in the center of Budva costs as much as 240,000 euros. A 23 square meter studio can be found for 56,000 euros. And when it comes to larger and more luxurious apartments, their prices can reach 300,000 euros. A one-bedroom apartment in Budva costs exactly 199,000 euros. As for Kotor, as stated in the ad, the price of a 63 square meter apartment is 170,000 euros, apartment''is located in Dobrota. Also, a two bedroom apartment of 116 square meters can be bought at a price of 400,000 euros, plus a garage of 16 m2. The apartment has 2 bathrooms and 2 terraces. Herceg Novi has slightly lower real estate prices compared to the previous two cities. Currently, the supply of small apartments such as studios and one-bedroom apartments is a bit limited. For example, the price of a one-bedroom apartment of 40 square meters is 46,500 euros. A one-bedroom apartment in Igalo with an area of 65 square meters can be found for 93,000 euros. A one-bedroom apartment in Bijeloce with an area of 42 square meters can be found for 98,000 euros. Buying real estate in Montenegro? As far as the buying process is concerned, to buy real estate in Montenegro you''Will need, first and foremost, a passport. Agencies recommend, despite the help they provide, to hire a licensed attorney who should perform a thorough check of the documentation. After signing the sale contract, you need to register as the new owner of the property.

Croatia For many years, the Croatian coast has been considered one of the most expensive places for real estate. Some of the most popular and expensive places are Pula, Dubrovnik and Opatija. If you want to buy real estate in these places, you will have to give a significant amount of money. As for Pula, the minimum amount you will have to pay for real estate in this city is between 100,000 and 150,000 euros. For example, an apartment of 45 square meters in this city''costs 164,000 euros. A larger apartment on the same location with an area of 55 square meters costs 220,000 euros. Villas cost from 625,000 euros and up. Dubrovnik is another popular seaside destination in Croatia. Having studied the prices in this city, we realized that they are significantly higher than in Pula. For example, a 48 square meter studio in this city costs 210,000 euros. While one for sale in the heart of the Old Town is priced at 515,000 euros, and its area is 60 square meters.

Greece In recent years, Greece has become one of the most popular countries for tourists from Serbia, but it is also considered one of the most affordable in terms of real estate prices. The price difference compared to Montenegro and Croatia is very noticeable. Studying the real estate prices in Halkidiki, we found that they are much lower than, for example, in Budva. According to the latest advertisements, the price of an apartment in Halkidiki with an area of 50 square meters is 38,000 euros. The price of larger apartments and houses in Halkidiki with an area of 150 square meters is 200,000 euros, while one can be found for 60,000 euros with an area of 180''square meters. An apartment in the same place with 52 square meters costs 80,000 euros. As for Athens, the situation here is very similar. In the Greek capital, prices for apartments of 50 square meters range from 70,000 to 90,000 euros. More luxurious and slightly larger apartments of about 70 square meters can be found for 135,000 euros. In the village of Polygyros, which belongs to Halkidiki, an apartment of 60 square meters can be found for 35,000 euros. Also, nearby you can find slightly larger apartments of 70 square meters for 70,000 euros, which is very affordable compared to the prices in our region.

Turkey Turkey is also one of the countries where real estate prices are much more affordable compared to our region.''A 50-square-meter studio apartment in Alanya can be purchased for 215,000 euros, according to one agency website, but it is a penthouse. A 60-square-meter one-bedroom furnished apartment with sea views in Alanya can be found for €137,000. In the Gulluk area, a two-story apartment is offered for 188,000 euros. Most often offered apartments, so for a spacious apartment in the suburbs of Antalya asking from 150 000 euros. In Alanya prices for such properties are very favorable, and you can find solid apartments/studios with an area of 62 square meters for 60 000 euros, and sometimes for 40 000 euros, as one ad says. How to buy real estate in Turkey? According to the law of 2012, citizens of more than 120 countries are allowed to buy real estate in Turkey, and to begin''only a passport is required. As far as additional costs are concerned, the costs of an appraisal, obtaining an owner, authorization to use the apartment, annual tax, water and electricity costs, and maintenance costs are all important. The annual tax is about 0.3 percent of the total assessed value of the apartment. As for monthly building maintenance, it depends on the "adjoining properties in the complex." They can range from 50 to 60 euros.

Albania Properties on the Albanian part of the Mediterranean Sea are known for their low prices, and their popularity has grown since the pandemic as the country's wealthy citizens and foreign buyers began to be attracted to cheap apartments and villas on the coast. A one-bedroom apartment in Drache with an area of 52''square meters can be found at a price of 42,000 euros. A slightly larger one in the same location with 63 square meters is priced at 44,000 euros. A studio in Golemu with 40 square meters is priced at 35,000 euros. In one of the most popular tourist resorts of Saranda, 78 square meters is offered at a price of 110,9000 euros, while a larger apartment of 140 square meters costs 168,000 euros. As elsewhere, you can find villas and houses on the coast, costing several hundred thousand euros.

Italy In Trieste, one- and two-bedroom apartments of up to 50 square meters are for sale. The view from the window of this Italian city usually faces the sea. As for the prices per square meter in Trieste, according to local real estate agencies, they range from''1250 to 3950 euros. Prices per square meter in Trieste mainly depend on the equipment of the property, whether it is a new construction or a renovated old building, and the distance to the coast. How to buy an apartment in Italy? Very often agencies in Italy require a written offer from buyers to purchase a property and also often require a deposit to be sure of your intention to buy. The internet also warmly recommends a lawyer or legal advisor to complete the whole procedure more easily. When the deal is done with an agency, the hired lawyer is required to draw up a preliminary contract or Compromesso. This contract does not transfer the property, but it states all the details of the sale and gives the seller'