Today, I will share our estimated monthly costs to retire in Montenegro including rent, groceries, utilities, internet, cell phone, restaurants, drinking water, laundry, and transportation if the two of us retire here on a tight budget.
My name is Dan and I am 64 years old. I have lived continuously outside the USA for 17 years. So I know a bunch of places where I can live much cheaper than the US and I share them with you on this channel.
Much of the world is more relaxed than the USA because people are not so focused on winning the rat race. But I was lucky to be born in the USA since it has made my new life possible overseas.
We came to Montenegro on my retirement tour of Eastern Europe. We shot all of the video you are watching with our feet on the ground here. In my retire overseas course, I recommend not moving anywhere until you visit to see if it feels right for you.
After I share my cost of living in Montenegro, I will share what I learned about healthcare, food, real estate, things to do, social considerations, visas, walkability, weather, Internet speeds, and expat considerations.
Estimated Costs to Retire Montenegro.
Rents: Today, I found this furnished 1 bedroom apartment advertised online with a long-term lease at 500 Euros ($551 USD) per month, a 15 minute drive to Kotor Central. If you rent for a short term on Airbnb it would be much more expensive.
A larger apartment or an apartment closer to the old town could easily cost twice as much per month. So for the middle range expenses, I estimate $900 USD per month or more depending upon area and size.
Here is the process we use to find great apartments. So, we will show you a table of all estimated expenses in a moment. We will use $551 USD per month for our lower rent estimate and $900 per month for the middle cost of living estimate for expats who want more space.
In case these rents are too high for you in this vacation heaven, towns less than an hour away in Montenegro can have as much as 30% cheaper rents and rural areas can be even cheaper.
Utilities: For the apartment above, we estimate the year-round average utilities for us would be about $80 USD per month. The utilities would cost more for the larger space, starting at around $120 USD per month.
Groceries: We would shop in the farmers market for fresh fruits and vegetables, and purchase nonperishable foods and other things like shampoo and detergents in the grocery stores. We estimate about $290 USD per month for groceries. Other expats are likely to spend more on imported groceries they miss from home spending $360 USD per month or more on groceries, since most don’t go to the farmers markets.
Restaurants: We would eat out twice per week mostly in more local-style restaurants averaging about $10 to $14 USD per meal per person and one or two splurges per month of $12 to $18 USD per meal per person. If you add all that up, we would spend around $200 per month for the two of us. We may have a beer here and there, but that is covered below in alcohol.
Other expats are likely to eat more Western-style foods in expensive expat-style restaurants and less in local-style restaurants, so they would likely spend more like $320 per month for 2 people in restaurants. It is lifestyle-dependent.
Cell Phone Data: The cheapest Turisticki prepaid SIM cards in Montenegro are about $22 USD for 30 days with 500 GB of data. My Android phone will act as a hotspot so we can both be on the internet when we are out of the house together.
Other (retired) expat couples are likely to buy two prepaid SIM cards so they would need about $44 USD per month.
Laundry: The apartments all seemed to have clothes washing machines. The above grocery estimate includes laundry detergent.
Drinking Water: We read online that the water is clean here and many people drink water from the tap but we would be a little more careful. We didn’t see reverse osmosis delivery in 20-liter jugs here so we would probably get a Brita water filter. The filter refills would be about $5 USD per month.
Internet: We read online that in-home wifi costs about $30 USD per month for 60 Mbps.
Public Transportation: We didn’t ride the city buses form Kotor to nearby communities, but I found this link with pickup and drop-off times. Everything we wanted to see was so close we just walked everywhere. If we lived here we estimate about $50 USD per month for buses and taxis.
Other expats might walk less and spend more on taxis and less on public transportation, so I estimate $120 per month for them.
Alcohol (Optional): Domestic beers in grocery stores in Montenegro start at 0.90 Euros, or $1.00 USD for the half-litre size which is about 50% larger than the standard-sized beer in the USA. In bars and restaurants, half-liter draft domestic beers run from about $3 to $4 USD. We estimate about $120 per month on alcohol for the two of us.
Many other expats would spend a higher amount for imported foreign or craft beers in expat bars, so about $220 USD per month for 2 people assuming they are not into imported whiskey or wine.
Entertainment (Optional): We would budget about $200 per month for entertainment for the two of us. We enjoy doing more do-it-yourself kinds of entertainment so expats would spend a little more, maybe $300 per month, for 2 of them?
Estimated Costs to Retire in Kotor
|
Kotor Montenegro |
Lower (USD) |
Middle (USD) |
|
Rent |
551 |
900 |
|
Utilities |
80 |
120 |
|
Groceries |
290 |
360 |
|
Restaurants |
200 |
320 |
|
Cell Data |
22 |
44 |
|
Laundry |
0 |
0 |
|
Drinking Water |
5 |
5 |
|
Internet |
30 |
30 |
|
Transportation |
50 |
120 |
|
Total |
$1228 |
$1899 |
|
|
|
|
|
Alcohol |
120 |
220 |
|
Optional Total |
$1348 |
$2119 |
|
|
|
|
|
Entertainment |
200 |
300 |
|
Optional Total |
$1548 |
$2419 |
My above lower cost estimates would be for the two of us living on a tight budget. I gathered this data with my feet on the ground in Montenegro in July 2024.
When we first started exploring the world in 2018, we were on a tighter budget, more like the lower budget above. But now, we spend more money because we receive additional income from YouTube and Memberships. Plus, slowly traveling the World costs more than the above stationary life estimates.
I would estimate that 80 to 90% of overseas retirees will spend significantly more than our above-estimated lower budget. So, the middle estimate is just another example of what other expats might spend for these expenses if they moved here.
To understand what it would cost you to live here, you must put your feet on the ground, see what you would choose to rent, eat, drink, and how you would entertain yourself, and add it all up. It doesn’t matter what anyone else spends because we are all different.
If you are a retired expat in Montenegro and would like to share your cost of living, please leave a comment below and I will invite you on the channel as a guest.
Montenegro Retirement Desirability Factors
I will now share what I learned about Montenegro retirement visas, healthcare, walkability, Internet, food, weather, things to do, social considerations, safety, expat communities, and real estate, and then assign an overall retirement desirability score to Montenegro.
Walkability: High. We walked everywhere in Kotor. We found all of our daily needs within a 5 to 15-minute walk from our apartment. So we would not need a car if we lived in Kotor. Avoiding the expense of a car would be highly desirable to us.
Internet: High. The wifi in our Airbnb had about 40 Mbps down and 30 Mbps upload speeds. That is good enough for us to do Zoom calls, upload YouTube videos, and watch Netflix.
Food: High. There was a Farmer’s market just about a 10-minute walk from our apartment. For fresh fruits, vegetables, and meats, we would shop in the Farmers Market. Our webpage with links to all this information is the first link in the first comment below this video.
There are local restaurants with delicious meals starting around $10 USD to $14. There is also a large selection of foreign restaurants running from $12 to $18 USD per meal both in and outside the tourist area.
Weather: High. Average daytime highs in Kotor range from January are 54F (12C) but gradually increase to 88F (33C) daytime highs of July. Average nighttime lows in Kotor in January are 35F (2C) but gradually increase to 63F (17C) nighttime lows in July. The best weather runs from May through August when it is warm but before the rain starts in September. Snow is rare in Kotor but does happen from time to time.
Things to Do: Medium. Kotor is one of the most beautiful places in the world but it is a small town of 14,000 people with limited things to do other than water sports, partying, and hiking. Because of the natural beauty and cultural heritage of Kotor, it has been rightfully acknowledged as both World Heritage Site by UNESCO as Natural and Culturo-Historical Region of Kotor.
February 3rd of every year in Kotor celebrates the St. Tryphon Day, the town’s patron saint. The celebration started 12 centuries ago and all of Kotor celebrates.
Winter Carnival includes a masked ball, dance of the majorettes, carnival, local cuisine, and live concerts. Days of Camellia celebrates a beautiful flower brought from the Far East to Stoliv and gardens all around the bay grow the flower and it includes art exhibitions and theater performances. Other festivals and events are celebrated annually in Kotor.
Social Considerations: High. About 40% of young people and people working in the tourist industry speak English. As one English-speaking expat said, “I’ve been living here for 25 years or so, without ever feeling the need to learn Montenegrin.”
Safety Considerations: High. Montenegro was ranked the 35th safest country in the world 97 spots safer the the USA. When I last checked, the US State Department webpage published the safest level 1 risk for Montenegro–Exercise normal precaution. You can also review my report, How to Travel the World Safely, which is how I have remained safe traveling the world for 17 years. We went out walking after midnight in old town Kotor and never felt a hint of trouble.
Expat Community: Medium. Montenegro applied to join the EU in 2008 and their goal is to join the EU by 2028. But Montenegro is already using the Euro.
Here are a few Facebook pages that cater to English-speaking expats living in Montenegro: 1, 2, 3, 4. These online expat communities are great for learning all about things that expats want to learn when they first move overseas. Make sure to search for previous questions asked and answered recently before posting any questions to these groups.
Medical: Medium This healthcare international comparison index ranks Montenegro 103rd in the world, 34 spots less desirable than the United States which ranks 69th. There are different ways healthcare is rated, but this one seems to be considering quality of care in relation to what patients are charged.
If you decide to move here, make sure to ask around for referrals and establish relationships with doctors based on the feedback you have gotten from others who have used their services. The above Expats Facebook pages may be a good source for that information.
Tourist Visa: High. Citizens of seventy two countries can visit Montenegro as tourists without obtaining a visa including countries like Canada, USA, UK, Australia, New Zealand, and 67 other countries. This link provides a quick list of the countries but do double check with the Montenegro Embasst in your home country before making any final plans. The tourist visa exemption is good for a maximum of 90 days stay in Montenegro during any 180 day period.
Residence Permits: Medium. If you want to retire in Montenegro, you need to apply for a residency permit. Then you must renew your residency permit annually. The three main ways people get residency is through real estate acquisition, forming a limited liability corporation, or obtaining a contract to moor a boat for a year.
Owning a Property: If you buy real estate in Montenegro you can apply for residence permit and renew it annually. There is no minimum purchase price present;y but that could change in the future. It would probably be smart for the first year to higher an immigration lawyer to help you with the process. Which I will talk about in a minute.
Forming Limited Liability Company: If you form a limited liability company and name yourself as the executive then you can apply for a resilience permit and renew it annually.
Moor a Boat for Year: If you enter a contract to moor a boat for a year you could apply for residence permit and renew it annually.
For all three of these Montenegro residence permit techniques, I would a local immigration lawyer to get do the first year. I have seen lawyer fees online ranging from about 500 to 1500 Euros for this service.
Rather than promoting any particular immigration lawyer, I would recommend that you request a referral to an agent on one of the Facebook pages I shared above. Ask the expats there for an immigration lawyer who they have already successfully used to get residence permits.
Real Estate: High. When I read about it today, foreigners are allowed to purchase real estate in Montenegro. Today, I saw this small apartments for sale in Split starting for about $89k Euros $93k USD. However, I an nor recommmeding you buy this one. It is just an example. I do not recommend buying real estate in a foreign country until you have lived there for an extended period of time making sure you love it. If you decide to buy real estate, you should also get your own lawyer who has no conflict of interest with you. For example, do not use a lawyer recommended by your real estate broker or your local lover.
Montenegro Retirement Desirability Score: High. The winters are relatively mild here as compared to other parts of Eastern Europe, so I could live here year-round without the need to fly south for the winter. I like warmer year-round weather but I don’t mind cooler weather for a few months of the year so long as it is not cold. Also, this part of the world is so beautiful I would love to live here.
What would it cost you to live here in Montenegro?
You should also add anything to the above table that you spend money on in your home country that is not listed in the above table. Presumably, you find those things necessary in life. To do that, visit the Numbeo Kotor and add anything not mentioned in the above table.
Also, if you are going to try to retire cheap offshore, make sure to read my report, the Two Biggest Risks of Retiring Early for Cheap Offshore, which explains why you should have emergency funds available for unexpectedly large expenses.
Never move anywhere until you have visited first personally to verify the living costs for your lifestyle and needs. I am not guaranteeing these prices. These are just my notes and estimates from the time of my visit and this post. Your costs will likely be drastically different depending on your lifestyle and the time since this post.
Kotor History and Old Town Walking
The beautiful fortified city of old town Kotor is a UNESCO World Heritage Site.
The port dates back to Roman times, but most of the fortifications were built later during the 16th century, Venetian period (1420–1797). The three gates into the city–the Sea Gate, River Gate, and Gurdic Gate–are beautifully maintained. Check out Arms Square, Flour Square, and Craftsmen Street to understand medieval life inside the walls.
Visit the Church of St. Nicholas and the Church of St. Luke. Then hike up to Castle Saint John to get the best view. Here are a few spots on the walking tour:
The Sea Gate, constructed in 1555 during Venetian rule is the main entrance to Kotor. Check out the winged lion of Saint Mark, Venice’s symbol, proudly displayed on the walls here and in a few other spots around town.
Arms Square is the biggest square in the city you encounter when entering through the Sea Gate. Today Arms square is mainly restaurants, retail, and banks. During Vetian times, this square was used to store arms to be ready for battle to protect the Prince’s Palace and Town Guard Tower. Soldiers fought off the Barbarossa, a Turkish Pirate for three intense days back in 1539.
Saint Nicholas was buiktin 1902 to replace the previous Church that burned to the ground on Christmas Eve in 1896. The two bell towers have gold crosses gifted from Russia.
St. Luke Church is built in the Romanesque style in 1195 during the Serbian Nemanjić dynasty.
Flour Square was named after its function of flour storage area. The square includes Saint Nicholas of Seamen Church, Pima Palace, and Buća Palace. The Buća Palace was originally the city’s wealthiest citizens, but the Palace collapsed during a 17th Century earthquake and was never fully restored.
Saint Tryphon Cathedral was consecrated in 1166 after being built upon the ruins of an ancient 9th-century temple dedicated to the town’s patron saint.
Gurdic Gate, or South Gate, was created in the 16th century to keep the city safe from marauding pirates and attacking armies and has tood the test of time for 600 years.
Craftsmen Street is the oldest road in Kotor dating back to Roman times from the South Gate to the North Gate and was replete with skilled artisans clustered according to their trades.
St. John’s Castle rests on top of the hill 850 feet above sea level. The panoramic views from the summit rewards those who choose to climb the 1300 steps to the top. The castle was first written about in 1440 when it was dedicated to Saint John the Baptist.
Kotor Nightlife Walking Tour
Where we stayed in Kotor
We stayed at this Airbnb for $103 USD per night before adding Airbnb fees, cleaning fees, and taxes. It was a great location but we would move further out if we had time to stay for a month or longer. Everything we needed was within walking distance and I have listed all of that below under restaurants, shopping, and services.
How we got to Kotor Montenegro
We took the bus from Sarajevo Bosnia to Podgorica Montenegro for $18.80 USD per person. From Podgorica, we took a bus to Kotor for $9 USD per person. In both Podgorica and Kotor we walked a short distance to our Airbnb apartments.
Restaurants, Bars, Markets, Services
Restaurants (Euros)
Ombra Restaurant: Cuppichino/Latte 3.90, Cheese Omettle 7
La Catedral Pasta Bar: Good pasta but avoid busy time, Aglio olio 10.90, Pomodoro 10.50, Cheese omettle 5.90, beer 0.5L 4
MojaKafanica Kotor: Beer 500ml 4.80, Vegetarian Risotto 10.20, Grill chicken 9.80
Little Bay: Beer 500ml 4.80, only good for beer on the beach (food sucked)
Authentic Pub “Bandiera”: Beer 0.5L 4, nice for people watching in oldtown
Mandrać (Otvoreni Šank): Beer 0.33L 3.60 good for the view
Markets and Services (Euros)
Farmer’s Market: Fresh fruits, vegetables
Aroma Grocery Market: Grocery store
iDEA supermarket: Grocery Store
OVS clothing store: 28 Euros Bikini
Kotor Boat Tour: Super easy to book the tour by WhatsApp +38269859311, 35 Euros for 3 hours touring around the bay. Our Lady of the Rocks: Favorite stop on Tour.
