Budva is one of the most popular and attractive destinations in Montenegro, offering a variety of properties for sale, from apartments and houses to villas and hotels. Whether you are looking for a holiday home, a permanent residence, or an investment opportunity, Budva has something to suit your needs and preferences.
In this post, we will explore some of the benefits of buying property in Budva, as well as some of the best areas and neighborhoods to consider. We will also provide some tips and advice on how to find and purchase your dream property in Budva with the help of Montenegro Real Estate, a leading agency with over 20 years of experience in the Montenegrin market.
Why buy property in Budva?
Budva is a coastal city with a rich history, culture, and natural beauty. It is located on the Adriatic Sea, in the central part of the Montenegrin coast, and has a population of about 20,000 inhabitants. Budva is known for its sandy beaches, medieval old town, vibrant nightlife, and diverse entertainment options.
Some of the advantages of buying property in Budva are:
- High demand and rental potential: Budva is a popular tourist destination, attracting millions of visitors every year from all over the world. This means that there is a high demand for accommodation, especially during the summer season, which lasts from May to October. If you buy property in Budva, you can rent it out to tourists and generate a steady income. According to Montenegro Real Estate, the average rental yield in Budva is around 8%, which is higher than the national average of 6%1.
- Affordable prices and low taxes: Compared to other European countries, Montenegro has relatively low property prices and taxes. The average price per square meter in Budva is around 2,000 euros, which is lower than in other coastal cities like Kotor or Tivat. Moreover, Montenegro has a flat tax rate of 9% for both personal income and corporate profits, as well as a low property tax of 0.1%3. This makes Montenegro an attractive destination for foreign investors and buyers.
- Easy and fast procedure: Buying property in Montenegro is a simple and straightforward process, which can be completed in a matter of weeks. Montenegro has a transparent and efficient land registry system, which allows for easy verification of ownership and title deeds. Foreign buyers can purchase property in Montenegro on the same terms as local citizens, without any restrictions or limitations. The only requirement is to obtain a tax identification number, which can be done online or at the local tax office.
- Stunning scenery and quality of life: Budva is a city that offers a unique combination of natural and cultural attractions, as well as a high quality of life. Budva is surrounded by mountains, forests, and olive groves, creating a picturesque and serene environment. Budva also has a rich cultural heritage, dating back to the 5th century BC, and featuring monuments such as the Citadel, the Church of St. John, and the Venetian Walls. Budva also has a modern and dynamic side, with numerous cafes, restaurants, bars, clubs, and shops, catering to all tastes and preferences. Budva is a city that has something for everyone, whether you are looking for relaxation, adventure, or entertainment.
Where to buy property in Budva?
Budva is a city that has a variety of areas and neighborhoods, each with its own characteristics and advantages. Depending on your budget, lifestyle, and preferences, you can choose from different types of properties, such as apartments, houses, villas, or hotels. Some of the most popular and desirable areas to buy property in Budva are:
- Budva Old Town: The Old Town is the historical and cultural center of Budva, located on a small peninsula on the seafront. The Old Town is a UNESCO World Heritage Site, and features many ancient buildings, churches, museums, and galleries. The Old Town is also a lively and vibrant area, with many cafes, restaurants, bars, and shops. Buying property in the Old Town is a great option for those who appreciate history, culture, and convenience. However, the Old Town is also one of the most expensive and crowded areas in Budva, so you should be prepared to pay a premium price and deal with some noise and traffic.
- Becici: Becici is a resort town located about 3 km south of Budva, along the coast. Becici is famous for its long and sandy beach, which is considered one of the best in Montenegro. Becici also has a modern and luxurious feel, with many hotels, spas, and casinos. Buying property in Becici is a great option for those who are looking for a relaxing and comfortable lifestyle, as well as a high rental potential. However, Becici is also one of the most popular and busy areas in Budva, especially during the summer season, so you should be prepared to face some competition and congestion.
- Rafailovici: Rafailovici is a small fishing village located about 5 km south of Budva, at the end of the Becici beach. Rafailovici is a charming and peaceful area, with a traditional and authentic atmosphere. Rafailovici also has a beautiful and clean beach, as well as a promenade with many cafes, restaurants, and shops. Buying property in Rafailovici is a great option for those who are looking for a quiet and cozy lifestyle, as well as a good value for money. However, Rafailovici is also a relatively remote and isolated area, so you should be prepared to travel some distance to access other amenities and services.
- Petrovac: Petrovac is a small town located about 18 km south of Budva, along the coast. Petrovac is a family-friendly and romantic area, with a calm and relaxed atmosphere. Petrovac also has a lovely and sandy beach, as well as a picturesque bay with two small islands. Buying property in Petrovac is a great option for those who are looking for a serene and idyllic lifestyle, as well as a low cost of living. However, Petrovac is also a relatively quiet and undeveloped area, so you should be prepared to miss some of the excitement and variety that Budva offers.
How to buy property in Budva with Montenegro Real Estate?
If you are interested in buying property in Budva, you should contact Montenegro Real Estate, a leading and reputable agency with over 20 years of experience in the Montenegrin market. Montenegro Real Estate can help you find and purchase your dream property in Budva, as well as provide you with a range of services and support, such as:
- Property search and selection: Montenegro Real Estate has a large and diverse portfolio of properties for sale in Budva, as well as access to exclusive and off-market offers. Montenegro Real Estate can help you find and select the best property for your needs and preferences, based on your criteria and budget.
- Property inspection and evaluation: Montenegro Real Estate can arrange and accompany you to view and inspect the properties that you are interested in, and provide you with an objective and professional evaluation of their condition, quality, and value.
- Property negotiation and reservation: Montenegro Real Estate can help you negotiate and agree on the best price and terms with the seller, and secure the property with a reservation deposit, which is usually 10% of the agreed price.
- Property purchase and registration: Montenegro Real Estate can assist you with the legal and administrative aspects of the property purchase, such as preparing and signing the sales contract, obtaining the tax identification number, paying the taxes and fees, and registering the property in your name at the land registry.
- Property management and rental: Montenegro Real Estate can also help you manage and maintain your property after the purchase, as well as rent it out to tourists and generate income. Montenegro Real Estate can provide you with services such as cleaning, maintenance, repairs, utilities, security, marketing, booking, check-in, check-out, and accounting.
Montenegro Real Estate is a reliable and trustworthy partner that can make your property purchase in Budva a smooth and successful experience. We have a team of qualified and experienced agents, lawyers, accountants, and managers, who can guide you through every step of the process and ensure your satisfaction and peace of mind.
If you want to buy property in Budva, do not hesitate to contact Montenegro Real Estate today and start your journey to owning your dream property in Montenegro.