Montenegro Property News

Growing demand for real estate in Montenegro increased apartment prices by 10%

Growing demand for real estate in Montenegro increased apartment prices by 10%

The wave of rising prices has not bypassed the real estate market of Montenegro. Prices for apartments have increased by ten percent since the beginning of the year, so in Budva it is difficult to find an apartment below two thousand euros per square meter, and in Podgorica this price has exceeded 1300 euros per square meter.

“Since the beginning of the year, prices for apartments in Montenegro have increased by an average of ten percent, and this trend continues,” notes one of the real estate agencies in Podgorica.

Therefore, it is now difficult to find less than 1,300 residential apartments in a new building, and for some projects that are just starting or under construction, starting prices range from 1250 to 1350 euros. In addition to the capital, apartment prices are rising on the coast.

Despite rising prices, demand still exceeds supply. Analysts say that in the face of inflation, people are afraid that money will depreciate, so they invest everything they have in real estate.

Since the beginning of the conflict in Ukraine, more and more Russians and Ukrainians are interested in housing. Russians mostly buy and Ukrainians rent.

Further price movement depends on how the situation in Ukraine develops. Experts believe that if the military operation does not end quickly, prices will continue to rise.
The agencies say that after the rise, the market will stabilize slightly over time.

Published: April 21, 2022