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Installment of at least €376 for a €60,000 apartment

In order to take out a loan and buy an apartment in Montenegro whose price is 60.000 €, you have to save at least 376 € for the next two decades, which is  4.516,35 € on an annual level. You also have the possibility to take that money as a loan for the period of 15 years, which obliges you to give back  “only” 82.069  € to the bank.

In either case the  you must have a permanent job for at least six months or, you can be a retired person. On the other hand, you don’t have to think whether the initial investment is necessary since the crediting in specific banks does not require participation.

As Danijela Vukoslavović, the Deputy Director of the sector of the population  in Erste bank said for “Dnevne novine”, the residential loans drastically expanded in the last two years, and all thanks to the reduction of the interest rates, decrease of participation and possibility of longer repayment period ( up to even 30 years).

According to the data provided by the three Montenegrin banks which have residential loans in their offer, monthly  installment for for the amount of 60.000 € taken for the period of 20 years may amount to about 380 €.

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