Montenegrin government backs proposed law change
Proposed changes to the property buying system in Montenegro may make it easier to buy a house in the country, according to experts.
Foreign Property Buyer stated that the Montenegrin government was supporting a draft law to simplify the system.
Current regulations require foreign buyers to set up a company if they are buying real estate for development purposes, which means the removal of this clause will make purchasing a house in the country much easier.
The online portal said that if the law was passed, more overseas investors would be likely to consider buying in Montenegro.
Foreign Property Buyer commented: "Montenegro property prices have soared in the past few years, particularly on the coastal regions."
The website added that overseas investors already have a "fairly large presence" in the country, owning one in four properties in areas such as Budva.
This comes after BalkanInsight.com said that Montenegro was becoming an increasingly popular location among foreign property buyers because it offered benefits such as cheap house prices.
< Back to latest news