Sveti Stefan - Becici - Budva

Situated on the picturesque Adriatic Coast, Bar is a city steeped in rich history and packed with historical sights such as the Old Town and King Nikola's Castle. Its inviting geographical location, staged between the turquoise Mediterranean Sea on one side and the rugged, mountainous region on the other, allures the discerning traveler and luxury real estate buyer alike. As the largest port of Montenegro, Bar has a strong maritime tradition and is also the southernmost sea port of Europe. Its diverse and vibrant history worn with pride, the city's unique cultural fabric weaves in Ottoman, Venetian, and Austro-Hungarian influences.

Luxury Property Market in Bar

Bar’s exclusive property market is currently stable, demonstrating a steady balance between the supply and demand of luxury residences. The city offers an impressive selection of opulent houses and majestic apartments, adequately meeting the cravings of domestic and international luxury property buyers seeking the best amenities and incredible views.

Political and Economic Environment

The city's political and economic landscape is stable, which greatly adds to its attraction as a luxury property market. This secure environment engenders confidence in prospective homebuyers, further solidifying Bar’s position as a worthwhile investment destination.

Costs and Taxes in the Luxurious Bar Real Estate Market

In Bar, both the buyer and the seller typically pay around 3% estate commission. Additional costs associated with buying a luxury home or apartment include a transfer tax of 3% on private property, notary fees, possible construction inspection or legal costs, and any applicable mortgage fees. Residents are also subject to an average wealth tax of 0.8% on the private ownership of a house. However, if you sell a privately-owned home or apartment that serves as your main residence, you do not need to pay tax on the profit. This policy changes if the property is your second home or a vacation residence; profit from the sale of these properties is taxable. The current corporate tax on profits for registered companies in Bar sits at 9%. As for personal income tax, permanent residents are subject to a 9% flat rate.

Mortgage Requirements and Capacities

Mortgage requirements in Bar involve an evaluation of the debtor's solvency. Banks often consider the ratio between the debtor's own and foreign capital and conduct income evaluations. Usually, you can mortgage up to 50%-70% of the purchase price of a property in Bar, with the exact amount depending on the lending institution's policies and your financial situation.

The Most Exclusive Neighborhoods

Bar's most expensive and sought-after residential areas are undoubtedly Susanj and Shushan. These neighborhoods, home to stunning luxury homes, offer breathtaking sea views and close proximity to local amenities.

Transportation and Accessibility

Bar is well-connected by road and rail. The city is roughly 54 kilometers from the nation's capital, Podgorica. The nearest international airport, Podgorica Airport, is only a one-hour drive, while another international airport, Tivat, is just slightly further.

Education in Bar

Bar offers several reputable learning institutions, including the Private International School in Bar and the University of Donja Gorica - Bar Campus, for ideal educational opportunities.

Bar: A Lifestyle Defined by Luxury

Nestled in Montenegro’s coastal region, Bar boasts a population of about 40,000 residents. Its environment is a fusion of natural beauty from the azure waters of Bar Beach to the lush greenery of Rumija Mountain. The climate is typically Mediterranean with hot summers and mild winters, perfect for outdoor activities like sailing, hiking, and mountain biking. Bar hosts numerous luxury lifestyle stores, offering everything from designer fashion to exquisite home decor. The city's hospitality scene is punctuated by prestigious establishments like Hotel Princess and well-known restaurants like Restaurant Konoba. The city also hosts annual events like the Summer Fest featuring assorted cultural and sporting activities. Bar houses several cultural treasures like the King Nikola's Museum and the contemporary art gallery, Stara Maslina. Health services in Bar are commendable with top-notch facilities like the General Hospital Bar. Public infrastructure, such as roads and utilities, is well-maintained, ensuring a comfortable lifestyle. Ultimately, Bar offers a luxurious lifestyle that seamlessly combines the tranquility of the Mediterranean and the vibrancy of a modern city, making it an irresistible option for luxury home buyers.