Square meter prices of residential property vary from city to city – we all know that. Which means that for the same amount of money you can’t buy the same type of property in, for example, Budva and Zabljak. Here we give you a few examples of these differences.
Let’s say you have a budget of €50.000 (properties of this price are highest in demand in Montenegro). In Podgorica, for this budget, you can buy a brand new one-bedroom apartment of 37m2 in Dalmatinska street, at price of €1.350/m2. Located in a quiet neighborhood, this property is situated in a new building with a total of 8 apartments, has video surveillance and a gated parking area with 10 parking lots, which guarantees peace and comfort to the future homeowners. For almost the same budget, but at a significantly lower price per m2, you can buy a very spacious one-bedroom apartment of 48m2, also in a new building, close to the Ljubovic hill.
A new residential project is currently under construction in Cetinje – a beautiful building with 12 apartments, perfectly designed to blend into Cetinje’s historical and cultural charms. Price of a square meter costs €1.050, therefore you can buy a splendid 49m2 one-bedroom apartment for €52.000. Each apartment will have a designated parking space within the gated parking area. Construction will be completed in September 2020.
When you take a look at the north of Montenegro, you’ll find out that Zabljak has always been and still is one of the most popular destinations for winter and summer holidays in the mountains. That is why ingterest in the real estate market in Zabljak is constantly growing. Luckily, property prices are still reasonable and quite lower than in Podgorica and on the coast, but this is expected to change in a few years time. So, if Zabljak is on your radar, take a look at this 77m2 house built on a 200m2 plot which could be yours for €48.000.
It’s becoming very difficult to find a property in this price category on the coast, but it is still possible. You can buy a gorgeous studio of 26m2 in Rafailovici at a price of €1.980/m2. This apartment is located in a new luxurious residential complex which will feature a reception area, a bar and a garage. It is located very close to the beach and will be ready to welcome new owners in 2021. If Budva is still your favorite, take a look at this studio which can be bought for €2.100/m2 and is already available to-move-in.
Tivat is the ‘rising star’ of the Montenegrin coast and is attracting lot of attention. Real estate prices here are slightly higher, so you can get a brand new studio of 23m2 within a residential project for €49.000 (€2.130/m2). Kavac in Kotor is home to several small real estate projects where you can get a 26m2 studio for €49.500 (€1.900/m2). A cheaper option in Kavac is a 39m2 one-bedroom apartment for €1.250/m2 which comes with a parking area and a roof terrace which can be used by all building tenants.
Sellers take into consideration many elements when determining the price of their property: location, quality of materials, floor level, equipment and other benefits of the home. Once the buyers decide which of these elements are important for them, they can start the search for their ideal home.