This small coastal town is a popular tourist destination with long sandy beaches, vibrant nightlife, and friendly people. It's also a great place to invest in property, as the rental yield is high and the capital gains tax is low.
Sutomore is a small coastal town in Montenegro that is located on the Adriatic highway. It is a stop on the Belgrade-Bar railway, which makes it easily accessible from both Serbia and Montenegro. This has made Sutomore a very popular destination, especially for weekend getaways.
The town has a beautiful Mediterranean climate, with long sandy beaches and vibrant nightlife. The people of Sutomore are also known for being friendly and welcoming. This makes Sutomore a great place to buy a property in Montenegro.
In recent years, there has been a boom in foreign interest in buying property in Montenegro. This is due in part to the country's NATO membership, which has made it a more stable and attractive investment destination.
There are a number of reasons why Sutomore is a great place to invest in property. First, the rental yield on Montenegro property is high, at four to eight percent. This means that you can expect to make a good return on your investment if you rent out your property.
Second, the capital gains tax on real estate in Montenegro is relatively low, at just 9%. This means that you will not have to pay a lot of taxes if you sell your property for a profit.
Third, buying a habitable property in Montenegro entitles you to a temporary residence permit. This means that you can live in the country for up to one year without having to apply for a visa.
The average property taxes in Montenegro are between 0.25% and 1%. There is also a real property transfer tax that applies to real estate, which is paid at a rate of 3%.
Foreigners can and do purchase property in Montenegro with bank financing. This means that you can get a mortgage to buy a property, even if you are not a citizen of Montenegro.
Montenegro is a safe place to live, with a low crime rate. This makes it a good place to invest in property, as you can be confident that your investment will be secure.
Overall, Sutomore is a great place to visit, live, or retire. It has a beautiful location, friendly people, and a high rental yield on property. If you are looking for a good investment destination, Montenegro should definitely be on your list.