Real Estate in Montenegro: Apartment Prices Are Breaking Records, and the Coast Is Becoming a Luxury Zone in 2025
Real estate prices in Montenegro continue to set new records. According to the latest report from the Statistical Office (Monstat), in the second quarter of 2025 the average price per square meter of new-build apartments reached 2,201 euros, which became a historic...
Property prices in Montenegro continue to set new records. According to the latest report by the Statistical Office (Monstat), in the second quarter of 2025 the average price per square meter of new-build apartments reached€2,201, marking an all-time high. Prices on the coast are rising especially rapidly: here the cost per square meter exceeds€2,328, while a number of luxury projects in Tivat, Budva, Bar, and Kotor are pushing the market to even higher levels.
For those considering buying a home by the sea, it is important to understand that Montenegro is quickly moving into the category of premium destinations, where real estate is becoming not only a place to live, but also a reliable investment tool.
Record figures and growth dynamics
Average price per square meter nationwide:€2,201(Q2 2025)
Prices in Podgorica:€2,108per m²
Annual increase:+20%or about€350 per square meter
Price growth since 2023:more than 50%
At the same time, Montenegro’s Central Bank recordsrecord activity from foreign buyers:
in the first half of 2025 alone, they invested€228 millionin real estate, which is€29 million morethan a year earlier.
Year-on-year growth was around20%(plus €350 per square meter compared with 2024). Compared with the beginning of 2023, housing prices have risen by more than50%.
Buyers note that in reality prices in popular cities — Budva, Kotor, Tivat, and Bečići — are often higher than official data suggest. It is already difficult to find a modern apartment for less than €2,500 per m² here, while in sea-view projects prices start at €3,000–€3,500.
What is driving prices up?
1. Strong demand from foreigners
The Central Bank of Montenegro reported that in the first half of 2025, foreigners invested€228 millionin local real estate. That is €29 million more than a year earlier. Buyers from Russia, Turkey, Germany, and Western European countries lead the way, viewing housing not only as an investment, but also as an opportunity to obtain a residence permit.
2. Limited supply
Most apartments are sold even before construction is completed. On the resale market, choice is limited, and many owners are in no hurry to sell, expecting further growth.
3. Favorable lending conditions
Lower mortgage interest rates have stimulated demand among local residents. More and more young families are taking out loans, which is also fueling the market.
4. Large-scale investment projects
The most notable factor is new international-level projects that are changing the face of the coast.
New projects on the coast
Dozens of ambitious developments are currently under construction along the Montenegrin coast:
Tivat and Kotor
Luštica Bay: the new Heights and The Peaks zones — more than 3,000 apartments, 300 villas, 7 hotels, and an 18-hole golf course.
Boka Place (Porto Montenegro): 69 residences and 44 hotel apartments.
Tivat Hotel & Residences
: 103 apartments, scheduled for completion by the end of 2025.
Radisson Blu Tivat
: opening by summer 2027.
Royal Town, Kotor
: a premium residential complex, launch in 2026–2027.
Budva and Bečići
Swissôtel Residences Riviera Montenegro
: 212 residences and 144 hotel rooms, completion in 2027.
Meliá Budva
: 294 apartments in a complex with hotel infrastructure.
Such projects are not only shaping a new coastal architecture, but also setting the standards for premium housing, attracting buyers with high budgets.
Will prices fall?
Many locals hope that price growth will slow down, but analysts see no signs of a decline:
Construction costs
in Podgorica already amount to about€1,674/m²plus€264/m²for land preparation, leaving little room for lower prices.
Demand is outpacing supply
— new homes are sold before completion.
Foreign investment
and the premium tourism trend are supporting the market.
Premium infrastructure
— new projects with golf clubs, yacht marinas, and world-class hotels are making the coast increasingly attractive.
In addition, the arrival of brands such as
InterContinental, Radisson, Pullman, Meliá, Swissôtel, Mövenpickraises the quality bar and creates a new segment — “seaside residences with hotel service.” For buyers, this means:
access to 5-star hotel infrastructure (SPA, restaurants, yacht marinas);guaranteed property management;higher liquidity and rental potential.
As a result, the price per square meter in such projects is 20–30% higher than in standard housing.
What this means for buyers and investors
For the market as a whole
: premiumization will continue, and Montenegro will increasingly compete with Croatia and Greece for affluent buyers.
For private buyers
: if you are planning to buy an apartment by the sea for personal use, it is better to consider options now. The entry threshold will only keep rising.
In 2025, Montenegro has firmly established itself as a country with a premium real estate market. The average price in new developments has exceeded €2,200, while on the coast it remains steadily above €2,300. Strong demand, limited supply, and large-scale investment projects leave no basis for a price decline.
Montenegro’s coastline is becoming a premium zone
, where housing is not just square meters, but an investment in lifestyle, comfort, and long-term value., где жилье — это не только квадратные метры, но и инвестиция в образ жизни, комфорт и долгосрочную ценность.
Real Estate in Montenegro: Apartment Prices Are Breaking ...
