House 480 м² in Petrovac, Montenegro

ID 4OdId

Area: 480 m²
Bedrooms: 15
Bathrooms: 11

Description

Other attractions in Budva. The city - Petrovac.

Hotel under restoration with panoramic sea views in Petrovac.The house has 4 floors of 120m2 each floor together with terraces (internal area of each floor - from 70 to 83 m2).According to the technical conditions there is a possibility of expansion to 739 m plus garage, i.e. a total of about 1000 m2.On the 1st floor there are 2 bedrooms, bathroom, living room and kitchen.The 2nd and 3rd floors are identical - 4 rooms on each floor.The last, attic floor has 2 rooms, a small kitchen and a large roof terrace.In total there are 11 bathrooms in the building.All rooms have a sea view.In front of the house there is a large lawn where you can install a swimming pool and relaxation area, and in the back there is a large terrace and a vineyard. Around the house there is a forest and greenery.There is also a parking lot for 10 cars. The distance to the sea is about 800m.There is a possibility to bring the road from the upper main road.Location: PetrovacHouse area: 480 m2Plot area: 785 m2Number of rooms: 15Number of bathrooms: 11

Characteristics

Property type: Residential Properties
Object type: House
Price: 703 395 $
Land area: 0 m²

Services and facilities

Garage/parking
Pool

FAQ

How can I get a residence permit by buying property in Montenegro?

In Montenegro a residence permit is typically issued based on a minimum investment threshold. Applications are reviewed within 30–60 days in Petrovac; you will need a passport, proof of funds, and the ownership documents. Hatamatata helps prepare and submit the paperwork.

Is a mortgage available for non-residents in Montenegro?

Banks in Montenegro finance 50–70% of the property value for non-residents with rates of 3–5% for 20–30 years. A life insurance policy and a 30–40% down payment are usually required. Terms and programs vary by city and bank.

What taxes and fees apply when buying in Montenegro?

Expected expenses: transfer tax 0–15%, registration 0.5–2%, notary 0.5–1.5%, agent commission 0–3%. In total 2–20% on top of the purchase price. Exact rates depend on region, property type and programs.

How is the title checked in Montenegro?

A title search at the land registry of Montenegro takes 10–15 business days. You receive ownership, encumbrance and tax clearance certificates. Documents are translated and reviewed by a lawyer before signing.

Can I rent out property after purchase in Montenegro?

Yes. Rental income tax is 5–25% depending on the regime. In Petrovac short-term tourist rentals typically yield 5–8% per year. Municipal permission and income registration are usually required.

Is a property inspection recommended before purchase?

Yes. An inspection costs about 0.5–1% of the price (703 395 $) and covers structure, utilities and legal status. Hatamatata arranges a qualified engineer with an EN/RU report.

How long does the purchase process take in Montenegro?

A typical transaction runs 30–90 days, averaging 45 in Petrovac: due diligence (10–15 days), notarization (5–7 days), registration (10–14 days), residence permit (30–60 days, if needed).