Kotor, Montenegro Confirmed As the 3rd Best Destination to Travel to In Summer 2022

Live & Invest Overseas is the leading resource for those who wish to live, retire and invest overseas, and they’ve just released their seven best International Destinations for the Summer of 2022, which ranks Kotor, Montenegro in third place.

Beaten only by the Turks & Caicos Islands & Madeira, Portugal which finished in first and second place respectively, Montenegro itself has quickly become a destination of choice for Investors and Expats considering the luxury lifestyle, great choice of property for sale, and highly favourable tax rates.

Having dropped all Covid related restrictions, Montenegro is ‘back in business and tourists have already started arriving on it’s shores. Set to continue throughout the upcoming months, it’s a much needed economic boost for a country which relies heavily on this sector, with tourism directly responsible for around 22% of its entire GDP.

Kotor is world renowned historical town and it’s Medieval centre is on the UNESCO World Heritage list, famous for its centuries old fortifications, city walls, Castle and Churches. It’s a hive of activity in the Summer, visited by plenty of tourists from all over the world, including a number of Cruise ships which dock in the harbour. Not only is it worth visiting for the history, but the views are simply outstanding, especially from the top of the Castle, and there are plenty of other activities on offer too including mountain biking, white water rafting, hiking, climbing, paragliding and water-sports. It’s also only a short drive to other gorgeous towns & beaches such as Budva.

If you are looking to Buy your dream home in Montenegro there are no restrictions on foreigners, and the process is relatively straight forward much like other European countries, the purchase tax for re-sales is only 3% & 0% for new builds, corporate and personal tax rates are both 9%, capital gains tax is 9% and most importantly inheritance & pension tax rates are 0%.

Property prices range from bargain apartments at €50,000 to luxury villas of over €1m. The average holiday home will range from €80,000 to €200,000. Speak to CMM Group for further information.
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https://www.businesswire.com/news/home/20220531005063/en

17.06.2022