Real estate prices in Montenegro

Real estate prices in Montenegro increased by an average of 3-7% in 2021, according to the international agency Colliers. At the same time, objects in new buildings have risen in price by 10-13%. The most expensive housing in the capital of Montenegro is located in the municipalities of Podgorica I and Podropica II.

In 2021, the average cost of housing in these areas reached 1,683 € per m² in new buildings, which is almost 7% higher than in 2020. The cost of objects in the secondary market averaged 1,150 € per m².

Real estate in coastal cities costs an average of 1,445 € per m² in the first quarter of 2022 (according to the statistical office of Montenegro). In popular resorts, real estate prices are higher:

• in Budva - 1,838 € per m²;
• in Tivat - 1,870 € per m²;
• in Kotor - 2025 € per m².

Prices for apartments with an area of ​​50-60 sq.m. in new residential complexes start from 200 thousand euros. The property is furnished and ready to move in.

The cost of apartments on the first line of the sea starts from 250 thousand euros. New apartments with an area of ​​90-100 sq.m with 2-3 bedrooms, fully finished, cost from 300 thousand euros.

Absolutely new villas with a designer interior with an area of ​​520-600 sq.m with 4-5 rooms cost from 600 thousand euros. Such objects are located 500-700 meters from the coastline.

Villas in close proximity to the sea, with a private pool and a large plot, cost from 800 thousand to 1.2 million euros.

Until the end of 2022, the Montenegrin Citizenship for Investment program operates in Montenegro. Investors can buy a profitable property by obtaining a profitable asset and citizenship in a European country. To do this, the investor simultaneously fulfills two financial conditions:

• makes a non-refundable contribution to a specially created state fund of Montenegro in the amount of 200,000 €;
• acquires a share in a real estate project worth 250,000 €.

Read more about the program here.