Montenegro will introduce a progressive tax scale when buying real estate

Now the tax on the transfer of ownership is 3%, regardless of the value of the property.

New amendments to the law, which will come into force on January 1, 2024, will affect this.

Important:

  • 3% tax on real estate, the value of which does not exceed €150.000 will remain the same;
  • Properties over €500,000 in value will be subject to a flat tax of €22,000 + 6% difference.
  • If the object is worth more than €150.000, the buyer will be required to pay €4.500 + 5% of the amount above the specified threshold.

For example, a villa for € 300,000 from January 1, 2024 will oblige the buyer to pay a tax of € 12,000 (€ 4,500 + € 7,500), instead of the usual € 9,000.

It is important to note that all new taxes will only affect secondary market.

When buying real estate in the primary market, the tax on the transfer of ownership is paid by the developer.

If you were planning to buy property in Montenegro, it's time to hurry up. Just contact us and we will find the best property for your goals and budget.

 

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