Montenegro Makes the Forbes Retirement List

In its annual global retirement guide published on July 31, 2026, Forbes named Montenegro among the best places to retire abroad, selecting 96 locations across 24 countries on five continents. Montenegro was one of twelve European countries featured, with Forbes specifically recommending Tivat, Perast, Podgorica and Bar as the most appealing retirement locations.

The recognition carries weight. Forbes' retirement guide is one of the most widely read relocation resources for American retirees, and inclusion signals a level of institutional credibility that Montenegro's property market has been building toward for years.

What Forbes Said About Montenegro

Forbes described Montenegro as a "Mediterranean country with great beaches and a variety of climates" with a cost of living less than half the U.S. average. The assessment was characteristically direct:

Cost of living: Less than half the U.S. average
Government: Stable
Crime: Low serious crime
Healthcare: Adequate, with private insurance required. Many expats with specialist needs travel to Italy or Germany
English: Spoken by approximately two-fifths of the population
Income tax: Top rate of just 15 percent
Residency: Easiest route is through purchase of real estate

Forbes noted that a Temporary Residence Permit requires proving retirement income of approximately $19,000 per year, and highlighted that property ownership remains the most straightforward path to long-term residency in Montenegro.

Costa del Sol Removed, Montenegro Added

Perhaps the most telling detail in the 2026 Forbes list is what was taken off. Forbes removed several Spanish locations including the Costa del Sol, citing ongoing wildfires and extreme heat as climate-change risk factors. Montenegro, by contrast, was assessed as ranking "in the favourable half of the Global Risk Index for natural hazards."

For international buyers who have traditionally looked to Spain's southern coast for retirement property, this is a significant signal. The market that Forbes considers too climate-risky for retirement is the same market where coastal property prices have been rising at 10 percent annually. Montenegro offers a Mediterranean lifestyle at a fraction of the cost, with a lower climate-risk profile and a property market that is still in its growth phase.

The Tivat Recommendation

Forbes' inclusion of Tivat among its four recommended Montenegro locations validates what the property market has been demonstrating for several years. Porto Montenegro has established Tivat as an internationally recognised residential address, and the surrounding development pipeline, including Boka Verde and the upcoming Lustica Bay golf course, continues to expand the lifestyle infrastructure that makes long-term living here viable.

Perast's inclusion alongside Tivat is equally significant. The Bay of Kotor's historic waterfront towns offer a different retirement proposition: quieter, architecturally distinguished and rooted in centuries of Adriatic maritime culture. For retirees seeking character over convenience, the bay delivers at price points that established European retirement destinations cannot match.

Property as the Residency Gateway

Forbes identified real estate purchase as the "easiest route" to gaining the right to stay in Montenegro. This is accurate and important. Property ownership supports a Temporary Residence Permit application, and Montenegro's residency-by-property framework (requiring a minimum property value of EUR 200,000 as of November 2025) provides a structured, well-understood pathway from purchase to residency.

For American retirees, the combination of low income tax (15 percent maximum), affordable property prices, and a residency pathway through ownership creates a financial equation that few Mediterranean alternatives can match. The absence of a U.S. tax treaty is noted by Forbes, but the U.S. foreign tax credit "affords substantial relief" given Montenegro's low domestic rates.

What This Means for the Property Market

Forbes features drive real demand. The publication's retirement guides are read by hundreds of thousands of Americans actively planning international relocations. Montenegro's inclusion puts the country on the radar of a buyer demographic that values lifestyle quality, cost efficiency and long-term residential commitment over speculative investment.

This is precisely the buyer profile that supports healthy, sustained property price growth: people who buy to live, maintain their properties, and contribute to the local economy year-round. For Montenegro's coastal markets, particularly in the Bay of Kotor and Tivat, this demographic complements the investment and second-home buyers who currently dominate transactions.

Barok Estates International advises international buyers, including American retirees, on property acquisition, residency advisory and the full relocation process. For a confidential discussion about retiring to Montenegro, book a private consultation with our advisory team.