833 m² House in Petrovac, Budva Riviera, Montenegro — €670,000
A house with apartments totaling 833 m² is for sale in Petrovac, on the Budva Riviera. The property sits on a 587 m² lot, 500 meters from Lucice Beach. Three floors, 19 apartments, 19 bedrooms. Each apartment has a terrace with a sea view. All apartments are renovated, fully furnished, and equipped with household appliances. Price — €670,000.
Location
Petrovac is a resort town on the Budva Riviera, located 17 km from Budva and 36 km from Tivat Airport. The town is surrounded by olive groves and pine trees. Lucice Beach is 500 meters away, with the path running through an olive grove. Shops, restaurants, and the town's infrastructure are within walking distance.
About the Property
The house is 833 m² on a 587 m² lot. Three floors, 19 apartments divided into eight blocks. Each block is separately registered in the cadastre and can be sold separately. Each floor has two blocks: one with two apartments, the other with three. The first floor includes one large apartment, an auxiliary apartment, and two small apartments. All apartments are renovated, fully furnished, equipped with household appliances, and each has a spacious terrace with a sea view.
In the Complex
Parking is provided on the grounds. Utilities: 64 kW electricity, centralized water supply, septic sewerage. Window frames are metal-plastic.
Price and Costs
Price — €670,000.
Price per square meter — €804.
When purchasing secondary real estate in Montenegro in 2026, a progressive property transfer tax applies. Rates: up to €150,000 — 3%; from €150,000 to €500,000 — €4,500 plus 5% on the amount above €150,000; above €500,000 — €22,000 plus 6% on the amount above €500,000. For a property valued at €670,000, the tax will be: €22,000 + 6% of €170,000 = €22,000 + €10,200 = €32,200. The tax base is determined based on the transaction price, and the tax authority has the right to determine market value independently if the declared price does not correspond to it.
Additionally payable: notary fees (€200–500), registration fees (about 0.1%), sworn translator services (from €50), and agency commission (if applicable, about 3%).
The final transaction amount, including all fees, is calculated individually and disclosed before the contract is signed.
Annual expenses: property tax — base rate from 0.25% to 1% of the property value, depending on the municipality, purpose, and characteristics. For coastal properties on the Budva Riviera, the tax is calculated at local rates. A tourist tax (turistička taksa) also applies to a second home in a resort zone, and for foreigners even to a first home. Rental income tax — 15% of 70% of revenue.
Ownership Structure and Transaction Format
Form of ownership — freehold. Foreigners have the right to buy and sell real estate in Montenegro, rent it out, and pass it on by inheritance. Transaction procedure: price negotiation, title check in the cadastre, signing of a preliminary agreement, notarization, payment of the transfer tax within 15 days, and registration with the Real Estate Administration. The entire process takes 4–8 weeks. Online viewings and remote execution via power of attorney are possible. Support languages — Montenegrin, English, Russian.
If You Are Considering It as an Investment
The seller classifies the property under the temporary residency-by-investment program. In 2026, the minimum investment threshold for applying for temporary residence is €200,000 in registered real estate. The property price (€670,000) exceeds the threshold. The permit is issued for 1 year with annual renewal; after 5 years, permanent residence is possible, and after 10 years, citizenship. The question of whether the program conditions comply as of the transaction date is noted in the service footer.
The Montenegro real estate market in 2026 shows resilience: coastal regions show annual price growth of up to 23.2%, and rental yields in coastal «hot spots» range from 4.5–7.1%. However, the property is a house with 19 apartments, which implies managing a rental business or selling the blocks separately. No data on stated yields is available in the source.
This Is a Good Fit For
— Investors considering the acquisition of an income property with 19 apartments on the Budva Riviera.
— Buyers planning to use the property to obtain temporary residence (threshold €200,000).
— Those prepared to manage a rental business or sell the blocks separately (each block is separately registered in the cadastre).
This May Not Be a Good Fit For
— If you need real estate for personal living without rental management — 19 apartments imply commercial use.
— If the budget does not account for the annual property tax and the tourist tax for foreigners.
— If you are not prepared for additional transaction costs (progressive tax, notary fees).
— If you need a front-line sea property — the beach is 500 meters away.
What to Know Before the Transaction
The house is divided into eight blocks, each separately registered in the cadastre and able to be sold separately. This provides flexibility but requires a title check for each block. All apartments are renovated and furnished, but the condition of the building systems (64 kW electrics, septic sewerage) should be checked during the viewing. For foreigners, the tourist tax applies even to a first home in a resort zone if there is no «stalni boravak» (permanent residence) status. When purchasing for residency purposes, make sure the property is registered in your name and meets the €200,000 threshold.
How to View and Buy
Write to us with your travel plans and budget range. A Discount House manager will confirm the property's availability, send a full breakdown of transaction costs, and suggest alternatives in the same area. Viewings in person or by video. Response within 30 minutes.