Objekta - How Much Does Property Cost in Budva?

Budva, Montenegro, is known for its beautiful beaches and lively atmosphere, making it a popular spot for property buyers. But how much does it cost to own a piece of this paradise?

Property prices in Montenegro are rising, so having the latest information is key. Whether you're looking for a luxury villa or a small apartment, learning about the local market can help you make the best choice.

Curious about what Budva has to offer? Let’s explore and find a property that fits your budget!

Average Property Prices in Budva

Budva offers a range of property options, from affordable apartments to high-end villas. On average:

Apartments: Prices start at approximately €2,500 per square meter in the city center, while properties price further from the coast can go as low as €1,700 per square meter.
Luxury Villas: High-end villas with sea views typically range from €500,000 to over €3 million, depending on location and amenities.
Land for Development: Plots of land near the coast can cost anywhere from €150 to €400 per square meter, ideal for custom building projects.

What Influences Property Prices in Budva?

Several factors determine property costs in Budva:

Location: Properties closer to the Old Town or beaches tend to command higher prices.
View: A sea view can significantly increase the value of a property.
Amenities: Homes with features like private pools, modern designs, or proximity to attractions are priced higher.
Market Trends: The real estate market in Montenegro has grown in recent years, fueled by international interest and increasing tourism. (Source)

Buying Property in Budva as a Foreigner

Montenegro welcomes foreign investors with straight forward property ownership laws. Key points include:

Residency Options: Purchasing property can make you eligible for a residency permit.
Legal Requirements: Foreigners can buy most types of property, but certain restrictions apply to agricultural and state-owned land.
Taxes and Fees: Expect a 3% property transfer tax and additional notary and legal fees. Budget around 7–10% of the property’s value for these costs.

Why Invest in Budva Real Estate?

Budva’s real estate market is attractive for several reasons:

High Rental Demand: As a popular tourist destination, rental yields can be lucrative during peak seasons.
Growing Market: Montenegro’s increasing appeal to international buyers offers potential for property value growth.
Lifestyle Appeal: With its mix of natural beauty, rich history, and modern amenities, Budva is ideal for both vacationers and long-term residents.