After almost 100 years of common history with Serbia, Montenegro – the fledgling state on the Adriatic Coast – declared its independence in June 2006. However, foreign investments in real estate had already begun to flow into the state union of Serbia and Montenegro before it split into two separate countries. The increased demand for real estate – concentrated along the Montenegrin coast and in Serbian towns – is driving prices up.
The constitutions of both Serbia and Montenegro formally enshrined the principle of the free purchase of property in Serbia and Montenegro. In both countries, it is possible to acquire ownership in real estate and parts of real estate as well as in buildings and parts of buildings – insofar as these are entered into the Land Registry as independent entities. Ownership in a single floor of a building is also possible.
