More than 90% of apartments in the capital are bought for rental purposes, and only 10% are purchased directly for living. Apartments in Podgorica unlike those on the coast are bought mainly by Montenegrins to generate investment income. Among them are also those who work abroad. Local real estate agents also note that demand for luxury property in the capital is increasing. Companies expect that price growth in the housing market will continue. According to the Montenegrin statistical agency Monstat, the average price of apartments in new buildings in Podgorica is 1,200 euros per sq. m.