New Law to Limit Foreigners' Property Ownership Rights in Montenegro
BalkanTravellers.com
The proposed law mandates that foreigners will be able to buy only 5 per cent of the remaining unsold real estate in the country, according to the Serbian radio B92. In addition, it provides that citizens of other countries will not have the right to own any of the country’s natural treasures, agricultural regions, forests and cultural monuments.
If it comes into force as expected, the law will make a significant change to the present situation. Currently, Montenegro’s real estate regulations are quite liberal, allowing foreigners to purchase and own land, houses and other real estate without any restrictions.
According to B92, Montenegro’s parliament is expected to take a vote on the law proposal on June 19.
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