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