Great value villa in Montenegro - and the legalization process
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- Опубліковано 19 лип 2021
- In this video I join Peter Square Meter, my agent in Kotor Bay, to look at a 160m2 villa going for €250,000. An investor could reasonable expect a gross yield of 10% after some negotiations, which is much more than the average in the market. Typically in Montenegro, you can expect gross yields of 4%-6%. So what is the catch?
The house is not fully legalized, which is a risk. It's a fairly common occurrence in Montenegro, so Peter proceeds to elaborate on the legalization process.
🇲🇪 Full market analysis of real estate in Montenegro: thewanderinginvestor.com/inte...
If you are looking for real estate in Tivat, Kotor, Lustica peninsula, or Herceg Novi, do get in touch with Peter at petersquaremeter@thewanderinginvestor.com
📌 Music credit: www.bensound.com
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No part whatsoever of the discussion and presentation is, or should be considered as, investment advice, financial advice, legal advice, or tax advice. Always do proper due diligence and speak to a qualified professional advisor in your jurisdiction. Also, be advised that Ladislas Maurice and The Wandering Investor staff may own real estate or investments in the specific markets or opportunities that are discussed. The Wandering Investor may also have marketing agreements in place with certain opportunities that are mentioned.
Wow, this video came just in time for me.
BOSS AS USUAL YOU TEASE OUR MIND AND OUR POCKETS..
KERP UP THE GOOD WORK
..WE LOVE YOU....ABDI
Cool vid Ladi! :)
That ferry ride view brings back good memories, hoping to make it back to Tivat in the Fall. Always have to price in possible door punches from drunk Russians...
I think the main argument for buying this apartment is that you can use it for yourself during the fall and winter season.
So my questions would be:
- How is the fall and winter in Montenegro? Are there things to do? How is the climate?
- What about local income taxes? Are these already taken care of by the property manager?
Additionally, apart from the good price and amazing view and great functionality I see as downsides:
- The building is just super ugly from the outside. Minimum it needs a paint job to be more beautiful, it looks more like a bunker or a military watchout tower than a villa
- Having to drive up this dust road is probably no big fun, far from restaurants (?)
Additional question: What is the best real estate place in Europe for the winter time with great returns, and a good winter climate and some social life during winter times?
Cyprus? Turkey? Madeira? Egypt? Tunesia? Georgia?
1. Fall Winter: Mediterranean weather and skiing a few hours away
2. They usually link up with a local accountant for taxes
3. Yup, this house will require regular maintenance hence the higher numbers for this, and yes the nearest restaurant requires a drive along that small road.
Not a straightforward Buy without issues for sure.
Very beautiful !
Expensive and too much risk and headache for a 4-5% net income. Thanks for the video.
I agree, but very interesting to learn about and the analysis he goes through will help all investors. See the other comment I just posted above for information on an investment I recently made in an LNG shipper that currently yields 10%
This was very helpful, thank you! Is legalization always guaranteed? I would be hesitant to purchase a property not knowing if I will end up with "legal title" once the process is complete.
You want to make sure to hire a good lawyer before buying. In the vast majority of cases it’s fine, but not always.
Simple offer 12,000 euro less to help absorb the future cost. If no then pass and buy another, always deals.
Great video, thanks. I expect short season 4-5 months, so 10% return seems highly optimistic.
I didn't get if costs mentioned include local income tax, in which case I would look at 4% realistic net income.
4% to be safer yes 👍
@@TheWanderingInvestor Why would anyone lock down $300K-350k (dollars) for 4% income. One can make this in the stock market in a month. I just found your info today and I plan to follow your channel. I will watch all your video/website. Thanks.
@@mohammedsharif2651 it can be combined with lifestyle, and it’s a hard asset. At the end of the day, diversification is a personal choice.
But yes, the stockmarket can definitely deliver more alpha 🙂
Glad you enjoy the content
@@TheWanderingInvestor Thank you. I really liked your videos on Turkey’s real estate. Great assessment and logical. Cheers.🍻
Is that 4% yield or ROI on capital deployed? Either way it’s better and safer to invest in the North of England
Very interesting. Considering retiring to Montenegro, but to the mountains. I'd love to know any things to be aware of in purchasing a small house in Zabljak or Kolasin.
Extremely low liquidity. Easy to buy, very hard to sell.
@@TheWanderingInvestor so, perhaps not the end of the world if you have cash and your goal is an inexpensive retirement?
@@frithbarbat 100%. Combine it with a small apartment on the coast and it’ll be an amazing retirement.
@@TheWanderingInvestor u should do a series about the liquidity in these markets, I think it's the main thing i've learned from watching your utube vids
Russian was definitely punching the door because his wife closed it from inside after having an argument 😂
😂😂
At 8:21, what airport is peter talking about?
Dubrovnik Airport. He said it in Croatian 🇭🇷
How would you compare it vs dubai ? Im getting tired of USA want to relocate
You can’t compare the two
1st 😉
The best deals are in Albania.
L'occasion de faire une vidéo avec Julien s'il est dans le coin.
How can I purchase?
Send Peter an email: peter@thewanderinginvestor.com
"What's the catch?" Well your NET yield will not be 10%, that's for sure. Also liquidity may not be the best. I would never, ever believe a real estate agent and take their words at face value, for obvious reasons.
Yes, the net yield will not be 10%. For Airbnb from gross to net you can slash the number in half.
Montenegro in general is low liquidity.
And for those reasons..... Beautiful property, fantastic views, but the price is a bit steep.
Peter square meter?
😅
Priceless information about legalized and non legalized property. 50% makes the probability of visiting a non legalized property extremely high. Proceed with caution. Spain Mediterranean coast is like that.
I just dont like the way they build houses in the Balkan countries...its like a jungle of styles, sizes and pretty much kitschy tastes. Rest is fine.
True. Many of them are of questionable taste.