There is no real estate transfer tax on a new property purchased from a developer a 3 percent transfer tax is paid on resales, Mr. Home purchases can be made directly, without forming a corporation, Mr. There are no restrictions on foreign buyers. Montenegro, which declared its independence from the State Union of Serbia and Montenegro in 2006 and joined NATO in 2017, expects to join the European Union by 2025. Still, personal and corporate tax rates of 9 percent are “an incentive” for buyers, Mr. “We predicted a bigger drop in price due to the coronavirus,” he said, but it didn’t happen, “mainly because the developers knew they would be better off waiting.” Kieran Kelleher, managing director of Dream Estates Montenegro, a Savills affiliate, said the number of transactions at his firm dropped 55 to 60 percent last year, though prices fell a less alarming 10 to 15 percent. The pandemic damaged the economy in Montenegro, a nation of 660,000 residents, “more than any other country in the region, causing a 15 percent decline of GDP” and an increase in unemployment from 15.3 to 20 percent, according to a U.S. Tivat International Airport is 20 minutes away. The fortified town of Kotor, a UNESCO World Heritage site with coastal churches and a maze of cobblestone streets, is a 25-minute drive. The house is just over a mile from the center of Tivat and Porto Montenegro, a marina with luxury residences, upscale restaurants, branded shops and a boutique hotel. A stone wall and a sloped gravel area serve as a beach, and there is a mooring for a 30-foot boat. Parking for two cars is across the road by the waterfront. A sliding door opens to a balcony with bay views. In the attic, the primary bedroom suite has an oak floor and sloped walls with wood beams. A one-bedroom, one-bath apartment for guests or staff has a separate entrance. Double doors at the front of the pool room open to a walled open-air terrace near the road.Ī study on the ground floor can be used as a bedroom and opens to a courtyard with an antique stone basin and a storage nook for firewood. Across the tile floor are a sauna, a Turkish steam room and a bathroom with a shower. A heated indoor pool has a ceramic tile lining and white marble coping. A back door opens to a spacious terrace with a summer kitchen including a barbecue.įrom the kitchen, a spiral staircase descends to the ground-level spa. Along a cabinet wall is a refrigerator, oven and camouflaged powder room. An island is fitted with a white marble countertop, a sink and a cooktop. Left from the front door, an archway leads to the kitchen, which has stone walls and a stone barrel ceiling.
At one end is a dining table illuminated by twin drum-shade chandeliers. A curved floating leatherette sectional faces a fireplace with a television mounted above. The front door, up a flight of stairs, opens to a great room with classic Montenegrin stone walls and a tiled floor.
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