Montenegro’s Millionaire Moment - How Surging Private-Wealth Inflows Are Reshaping the Property Market
27.06.2025
Luxury yachts bobbing in Boka Bay are no longer the only hint that Montenegro has arrived on the global wealth map. According to the just-released Henley & Partners Private Wealth Migration Report 2025, the country posted the world’s fastest millionaire growth rate over the past decade: +124 % in resident HNWIs between 2014 and 2024, and it is forecast to attract a net inflow of +150 millionaires in 2025 alone.Below, we explore what this explosive wealth migration means for property prices, investment strategy, and future trends across Montenegro’s coastal hot-spots and emerging inland hubs.
Competitive taxes & business-friendly regulation – A flat 9 % corporate rate, low income taxes, and no inheritance tax remain powerful magnets for entrepreneurs relocating from higher-tax Western European markets.
Citizenship-by-Investment legacy – Although Montenegro’s CIP closed in 2022, the pipeline of applicants is still completing purchases, supplying a fresh cohort of internationally connected buyers.
EU accession runway – Negotiations are advancing, and history shows price acceleration tends to front-run full membership (Croatia’s 50 %+ prime-price jump in the five years before joining the EU is a widely cited reference).
Lifestyle & infrastructure upgrades – Three world-class marina resorts (Porto Montenegro, Luštica Bay and Portonovi) plus ongoing airport expansions at Tivat and Podgorica have re-branded the coast for year-round living and super-yacht tourism.
| Segment | Typical € / m² | Annual Price Change* | Demand Drivers |
|---|---|---|---|
| Prime Marina Residences | €9,500 – €13,000 | ▲ 8 – 10 % | Global HNWIs, yacht berths, branded 5-star amenities |
| Luštica Bay Golf-Front Villas | €6,500 – €8,500 | ▲ 7 % | Anticipated 18-hole Gary Player course, low density |
| Historic Core | €4,000 – €6,000 | ▲ 6 % | Limited inventory, UNESCO status, boutique hotels |
| Budva Riviera New-Builds | €3,000 – €4,500 | ▲ 5 % | Holiday-let yields up to 7 %, digital-nomad demand |
| Inland Agritourism Estates | €1,200 – €2,000 | ▲ 4 % | Wine & eco-tourism, renewable-energy projects |
Investment Themes to Watch
Branded Residences & Hospitality Cross-Over
One&Only Portonovi villas have achieved resale uplifts of 20 % since 2022, underscoring how global flags de-risk purchases for first-time Balkan investors.
Green-Build & Smart-Home Stock
Incoming HNWIs are demanding near-zero-energy villas with solar arrays and EV charging; developers able to certify EU-level efficiency standards command a 10-15 % price premiums.
Remote-work visas (launched 2024) and a 9-month tourism season have pushed Budva and Tivat Airbnb occupancy above 75 %, making 40-60 m² turnkey units attractive to income investors.
Agritourism & Vineyard Estates
Government grants of up to €200k for sustainable farms (2025 rural-development program) are luring lifestyle buyers to the hinterland; expect boutique wine and olive-oil estates to proliferate.
Due Diligence: Verify building permits and cadastre records; coastal zone titles can be complex.
Finance: Local banks lend up to 60 % LTV to non-residents, but euro-zone buyers often secure better rates via cross-border private banks.
Rental Management: Professional operators in marina resorts charge 20-25 % of gross rent; off-plan buyers should negotiate guarantee clauses.
Taxes & Fees: Montenegro's competitive 9% income tax rate for residents stands out in today's high-tax environment. Perhaps more importantly for wealth planning, the country imposes no inheritance tax on direct heirs - a significant advantage for families focused on generational wealth transfer.
The Henley Report’s headline 124 % millionaire surge is more than a statistic; it is the clearest signal yet that Montenegro has entered the global premier-league of wealth destinations. For property investors, the combination of scarce Adriatic coastline, investor-friendly taxes, and impending EU integration creates a compelling risk-reward profile unmatched elsewhere in Southern Europe.
Whether your strategy is capital appreciation in front-line marina residences, income play via holiday-let apartments, or a lifestyle bet on eco-vineyard estates, timing matters. The next two to three years while supply pipelines struggle to keep pace with wealth inflows may prove to be the sweet spot before Montenegro’s prices converge with long-established Mediterranean peers.
Ready to explore opportunities? Reach out to CMM Montenegro for curated off-market listings and end-to-end buying support.
Reviews
In period May-August 2022 we sold our flats in St-Petersburg Russia and have bought two ones here in Montenegro, Becici. We decided to move here and make new home and business with my husband. Our agent Milica Zugic is really became our angel - provider here in Montenegro. She is very reliable, responsible , professional employee of CMM Budva department. She has developed intuition and found very fast necessary properties which we needed. Also she helped us to speed up the process of registration documents in MUP.( list nepokretnosti, etc). She was our real provider here. Very appreciated her and all staff of Budva department for there assistance. Separately to lawyer Ivan and his legal team. Very recommended choose Milica Zugic as real estate manager when you search for assistant in this complicated and important field as buying property in Montenegro.
Liudmila Nosova St-Petersburg Russia , 13.09.2022 10:20:09
At the beginning of April 2022, our family living in Prague bought a house in Sutomore with the assistance of your company.
Let me express my gratitude to the management of your company for the service provided, and especially to your employees - Anastasia Zeyak, Alexei Grachev and Elena Bozhovich for their attention, patience and even care for the whole time of buying real estate and the services provided after the purchase.
I would really like all companies to work with the same quality of service. After coming into contact with this kind of attitude towards the client, all our environment, if necessary, will refer to your company only.
With gratitude on behalf of our family.A.V. Ter-Gazaryan, 12.07.2022 11:32:19
Based on my experience with CMM in Budva, Montenegro, I can say that they are reliable, fast, and they deliver what they promise. They take really good care of their clients. For instance, I was offered a lift from the airport, and they would take me back and forth from Tivat to Budva and Becici to see various properties. They would answer all of my questions and respond promptly. They have an excellent team: Katarina, Alexander, Natasha, Martin and some other guys whose names I don’t remember. Katarina, my wonderful agent, went to every length to help me find a perfect home. Unfortunately, my situation changed and I had to postpone my relocation to Montenegro.
I would strongly recommend this company to anyone who is looking for a property in Montenegro.Val , 13.05.2022 03:18:13
We were introduced to CMM by friends who had already done research on Montenegro and CMM. We purchased our apartment in Dobrota, just outside Kotor, all remotely from South Africa, during the lockdown. Everything was seamless without any problems at all. All the CMM departments work together well from the sales team, head office, legal, interior design and rental department. Every detail was well communicated with an abundance of zoom meetings, videos, emails etc
We are thrilled with the outcome and enjoyed working with the CMM team. They were incredibly professional.
After sales service is also excellent as we move into the rental phase of the apartment and over all management of the apartment including maintenance.
We have been directly and indirectly involved with many houses/apartments all over the world and this was the up there with the best service we have received.
Thanks to everyone we dealt with at CMM it has been an absolute pleasure dealing with you all. We look forward too many happy years working with you on our rental.Mandy and Antoine, 06.10.2021 09:56:22
Biz Montenegroda CMM komandayla tanish olmushug. Snejana ve Milan bize cox yaxshi destek olublar. Artig bizim burada evimiz de var. Bize gosterdiler cox yuksek service, ve artig butun bizim senedler de gaydasindadir. Boyuk hormetle onlara Cox sagol bildiririk!
Dilara, 01.10.2019 07:17:27
Last year we decided to find a new home close to the sea. It was quite difficult in the beginning to make the right choice. Once we found CMM Company was a great luck! We immediately received detailed consultation on the country and purchase opportunities. Being attracted by Kotor - one of the most amazing parts of the coast, we decided to take a family trip and maybe make our dream of new home come true. As just discoverers of Montenegro, we were accepted like at home which was a one more pleasant surprise. The most important, we received all detailed information about country regions and procedure of buying property during the first few days. And how beautiful the car journeys were! Difficult choice, but when you find the home you want you can't refuse it. CMM did best to help us with this finding! All the purchase procedure passed well with CMM professional work! Now we are happy owners of a wonderful house with a Kotor bay view, being perfectly served by CMM Management company (of course, we've chosen CMM as professional house manager). Hope our friends and relatives would also move to Montenegro with the CMM help soon !!!
Kate, 22.03.2019 12:06:21