The average price per square meter of a newly built apartment in Montenegro increased by 38% in two years, while the increase in Podgorica is even more dramatic. In the period from June 2020 to June 2022, apartments in Podgorica are on average 416 EUR or 42.7% more expensive.
Observed in the five-year period 2017-2022, the average prices of apartments in Montenegro increased by a quarter (25.45%), or by 280 EUR, while in Podgorica it is now necessary to allocate 270 EUR more, or 24.1%, per square meter for a housing unit.
The significant increase in real estate prices in Montenegro is attributed to the significant demand for real estate, in which foreign investors also play a significant role.
The increase in prices is inevitably influenced by the increase in the price of construction materials, but also by the lack of workforce.
*The information in this document does not represent legal advice and is provided for general informational purposes only.