The real estate market in Montenegro continues to show steady price growth, and, according to analysts, a significant drop in the cost per square meter is not expected in the near future. The main reason for this is strong demand, which far exceeds supply. This creates favorable conditions for sellers and developers.
Current housing prices in Montenegro
According to official data, in 2023 the average property price increased by about 100 euros and reached 1,850 euros per square meter. However, as notes Vyacheslav Maevsky, founder of the real estate agency MD Realty, the average cost often differs from the official information.
The average property price in Podgorica is about 2,000 euros per square meter. In Budva, prices range from 2,000 euros to 10,000 and even 11,000 euros per square meter in premium areas. In Kotor, property cheaper than 2,000 euros is extremely rare, and as a rule, these are older houses.
Maevsky notes that there may be isolated listings on the market with lower prices, but they are often associated with legal or technical issues — for example, incorrect documents or defects in the property itself.
Market analyst Jovan Rabrenovic also believes that the real cost of housing is higher:
- In Podgorica it is difficult to find housing cheaper than 1,900 euros per square meter, and new ready-to-move-in apartments are already sold at prices from 2,500 euros and up.
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