Foreigners acquired property worth €169.99mn in Montenegro in 2019 with the biggest buyers being Russians, Serbians and Turks, news outlet CDM reported, quoting central bank data.
The Adriatic country has been a popular tourist destination for people from these three countries for years.
The value acquired property by foreigners in 2019 was €12.6mn lower compared to 2018.
Russians acquired real estate worth around €39mn, unchanged y/y, followed by Serbians who spent €16.6mn on property in Montenegro in 2019 (up by €2.1mn from 2018). People from Turkey acquired real estate worth €12.7mn.
People from Nato member states also acquired property in Montenegro in 2019 with the most interested being people from the US who spent €10.7mn, and Germans who acquired property worth €10mn.
The sector, which is a major contributor to the economy, was severely hit by the coronavirus pandemic.
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