From January 1, 2024, new tax rules will come into force in Montenegro when purchasing real estate on the secondary market. These changes relate to tax rates and are applied depending on the total transaction amount. Let's look at the details of these changes and how they may affect you.

Progressive tax rate: According to the new rules, the tax rate when purchasing real estate is now progressive and depends on the total amount of the transaction. Here's how it will be applied:

  1. Up to 150,000 euros:
    • The tax rate is 3% of the total purchase amount.
  2. Over 150,000,01 euros:
    • 4500 euros plus 5% of the amount over 150,000,01 euros.
  3. Over 500,000,01 euros:
    • €22,000 plus 6% on amounts over €500,000,01.

Why is it important to know about these changes: These new tax rates may have a significant impact on your budget when purchasing property in Montenegro. Understanding these changes will help you accurately estimate costs and make informed decisions when choosing a property.

cup of coffee on the terrace with a sea view

For investors:

  1. Budget planning: Consider the new tax rates when planning your budget for purchasing real estate. This will help avoid unexpected financial difficulties.
  2. Consultations with experts: Contact our experts for further advice on the new tax rules and how they may affect your transaction.
  3. Market analysis: Research the current state of the real estate market in Montenegro to make an informed purchasing decision.

Conclusion: With changes in tax rates when purchasing property in Montenegro, it is important to stay up to date with the latest updates. Our experts are always ready to provide you with the information and support you need to ensure your transaction goes smoothly and successfully. Contact us for more detailed advice on purchasing real estate in Montenegro.