Living costs in Montenegro are very low compared to other European countries; however, the average and minimum income in Montenegro is also quite low compared to other European countries. Montenegro is the 12th
cheapest country to live in Europe according to Numbeo’s cost of living index
ranking, which is well below the average.
The most important criterion to consider when buying a house in Montenegro is how much the rental income will be in the location where the house will be
purchased. Kotor more than meets this criterion. Kotor, one of the most popular cities of Montenegro, is one of the regions where tourism is most intense. In the region, where there is an intense tourist flow for 5-6 months of the year, the houses that are rented to tourists for short periods, especially in
the summer period, provide a lot of income.
Investors who want to invest in Montenegro have the same rights as Montenegro’ss own citizens. In addition, the country, which regulates its legal system for EU membership according to the Copenhagen criteria, has also
secured its territorial integrity after becoming a member of NATO in 2017.
While there are visa requirements for many Arab and Far Eastern countries in
Montenegro, there is a different situation for Turks. Turks who want to visit Montenegro are able to enter the country without a visa. Point to note here, for
Turkish citizens who will visit the country, the duration of the visit should not exceed 90 days.
Another feature of Montenegro is that house and car prices are more affordable than other countries. This is another factor that attracts investors to Montenegro. Montenegro sets low tax limits when buying a house or starting a new business, and also strictly guarantees property rights with laws. Property prices in Montenegro, which is expected to join the European Union by2025,
remain quite low compared to Europe. After entering the European Union, prices are expected to increase very rapidly.
Montenegro is the center of attention not only for Turkish investors but also for foreign investors from all over the world. These countries include Russia,
Canada, Switzerland, the United Arab Emirates and the United States.
Establishing an investment company in the country is as common as buying a
house. In fact, more than 48 thousand companies have been established in Montenegro since 2019.