Tivat - Risan - Luštica

Nestled in the Adriatic Sea, surrounded by medieval walls, lies the magnificent city of Kotor, Montenegro. Rich in history, the town is classified as a UNESCO World Heritage Site and famed for its stunning old town adorned by Romanesque churches, palaces, and stone buildings. Astounding architectural landmarks, such as the Kotor Cathedral and the Fortifications of Kotor, offer a captivating glimpse into the city's storied past. Found at the foot of Mt. Lovcen, Kotor's marvelous location further boasts a unique blend of sea and mountainous landscapes.

Current Market State: Kotor's Luxury Real Estate

The exclusive property market in Kotor is currently stable amidst the dynamic landscape of global real estate. The demand for luxury homes and apartments is consistent, adequately meeting the existing supply. Deviations are not uncommon considering the highly exclusive nature of the property listings in the locale.

The Economic and Political Landscape

Kotor's political and economic situation remains stable, further contributing to the robustness of its real estate market. Tax regulations are clearly defined and adequately implemented, ensuring a smooth purchasing experience for both local and international buyers.

Financial Considerations for Buyers and Sellers

When buying a house, the average real estate commission in Kotor is usually between 2% to 3% of the property's purchase price. Similarly, sellers can expect to pay the same rate. Aside from these, additional costs, such as transfer tax, notary fees, and potential construction inspection or legal costs, should be taken into account. Kotor's transfer tax on private property clocks in at 3%, while the wealth tax on the private ownership of a house is set at 1%. Furthermore, in Kotor, tax on the profit made from selling a privately-owned home or apartment differs based on its use. No tax is levied on the profit made when selling a home used as a main residence, while a 9% tax rate is set for homes used as second or vacation residences. Moreover, the corporate tax on profits for registered companies in Kotor is a standard 9%, while the income tax for registered residents stands at a progressive rate - between 0%, for income under €3,000, up to 11% for income over €20,000.

Mortgage Requirements

The general mortgage requirements in Kotor necessitate a balanced ratio between foreign and own capital, and a sufficiently high income level. Typically, banks offer around 60% to 70% of the property's purchase price as a mortgage, albeit this hinges on individual circumstances.

The Pinnacle of Luxury: Kotor's Premium Residences

Kotor Bay is the city's most desired area, hosting many luxury homes that offer breath-taking views of the sparkling Adriatic sea. The old town and the coastline are other coveted spots.

Accessibility and Location

Kotor is conveniently connected to major cities in Montenegro via a well-maintained road network. Rail connections are currently limited. It's an hour's drive from the capital city of Podgorica, while the city's international airport, the Tivat Airport, is only 15 minutes away.

Education and Leisure

Kotor is home to several prestigious educational institutions, including the Faculty of Maritime Studies. Nature trails, boat tours, and hiking opportunities abound in this city, enhanced by Kotor's idyllic climate. For luxury shopping, Porto Montenegro offers an elite selection of designer brands.

World-Class Hospitality and Delectable Cuisine

Boutiques like Boutique Hotel Hippocampus and high-class restaurants such as Galion are just some of Kotor's luxury offers. Owing to its vibrant cultural scene, events like the KotorArt Don Branko's Music Days are annual highlights.

Art, Health, and Infrastructure

Home to the Maritime Museum, Kotor also boasts modern hospitals and clinics. The public infrastructure is well-developed with accessible amenities, further enhancing the city's appeal, making it an ideal location for high-end homebuyers.