Overview of the current real estate market in Montenegro

  • 23.May 2019
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If you’re planning on selling, buying or renting a property in the upcoming period, here’s what you can expect on the montenegrin market.

SELLING/BUYING

Price per square meter in Podgorica, capital of Montenegro, vary depending on location. For example, the demand is the highest in the area Preko Morače and the prices there range between €1.000 and €1.150 per sqm in the older buildings, while prices in new buildings range between €1.250 and €2.000 per sqm. However, prices in the new buildings are lower in the other parts of the city (€1.000 – €1.200 Ljubović, Pobrežje, Stari Aerodrom; €1.400 Morača river towards Vezirov most) with one-bedroom and small two-bedroom apartments being highest in demand.

One bedroom apartment, Tolosi, €49.000

Studio, City kvart, €57.000

Coastal market is much more dynamic than the rest of the country and Budva and Tivat are highest in the demand. Prices there range from €1.500 to €4.000 per sqm. Properties within large residential projects can be bought at prices between €3.000 and €8.000 per sqm. In addition, such projects usually provide full property management services which make these properties an excellent investment. Prices in Bar vary from €1.300 to €1.800 and the situation is similar in Herceg Novi. On the other hand, price per sqm on north of Montenegro range between €500 and €700.

Two bedroom apartment, Kotor, €160.000

One bedroom apartment, Tivat, €139.000

 

RENTING

Monthly rent in Podgorica vary from  €300 to €650 for one and two bedroom apartments and from €800 to €1.300 for three bedroom apartments in Preko Morače and City kvart areas. On the other hand, monthly rents in other parts of the city are significantly lower – €200 to €550. Similar properties on the coast can be rented at somewhat higher prices: studios and one bedroom apartments range from €350 to €600, while monthly rent for two and three bedroom apartments range from €800 to €1.500. To rent a property on the north of the country costs less – from €100 to €500 per month.

Studio, Podgorica, €220

One bedroom apartment, Budva, €400

Contact RE/MAX Montenegro agents for more details or to get a custom offer. We’ll be happy to assist you through the entire sales/purchase process.

 

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