Average Prices of Primary Real Estate in Montenegro: Q2 2023 Results
The average prices for real estate in Montenegro continue to rise, showing a positive trend. According to the results of the second quarter of 2023, the average cost of new construction property is €1,500 per square meter. Over the past year, there has been a steady increase in prices, with new constructions becoming 9.09% more expensive on an annual basis. These data were presented by the official statistical agency, Monstat.
Data for the second quarter of 2023: average prices for new houses in Montenegro
| Region | Average price per square meter (€) |
|---|---|
| Podgorica | 1,581 |
| Coastal region | 1,413 |
| Central region | 714 |
| Northern region | 1,280 |
| Average cost of housing in a new house in Montenegro | 1,500 |
It is interesting that the average price of housing in new buildings varies in different regions of Montenegro. Podgorica (the capital of Montenegro) remains the leader in terms of average cost per square meter (€1,581 per 1 sq. m.). The following regions follow: coastal area (€1,413 on average per 1 sq. m.), northern region (€1,280), and central region (€714). The coastal area remains the most expensive region for purchasing an apartment on the primary market. The coast is a region that stretches for 230 km along the Adriatic coast of Montenegro. It is in this region that the most attractive resort real estate is located, which is in demand among foreign buyers. These data allow buyers to choose the optimal region for purchasing real estate based on their preferences and budget.
Purchasing property in Montenegro has a number of advantages:
- Firstly, the country offers a variety of real estate options, from apartments and houses to villas and plots of land. This allows each buyer to find a suitable option according to their needs and preferences.
- Secondly, Montenegro has an attractive geographical location. The country is located on the Montenegrin coast of the Adriatic Sea, making it an attractive place to buy property by the sea. Favorable climate, beautiful beaches, and picturesque landscapes make Montenegro an ideal place for leisure and living.
- Thirdly, Montenegro offers favorable conditions for real estate investments. Thanks to a stable economic situation and growth forecasts in the future, purchasing property in Montenegro can be a profitable long-term investment opportunity.
- Finally, Montenegro has an attractive tax system for property owners. Property taxes in the country are relatively low, allowing for cost savings and reducing financial burden.
All these factors make Montenegro an attractive place to buy real estate. The average price per square meter of housing continues to rise, indicating a growing demand for property in the country. If you are considering the possibility of purchasing property abroad, Montenegro can be an ideal option.
