In Montenegro, a slowdown in the pace of construction is noted

In Montenegro, a slowdown in the pace of construction is noted

According to the Montenegrin statistical office Monstate, the cost of construction put into operation in the first quarter of 2022 was 5,2% lower than in the first quarter of 2021 and 17,8% lower than in the fourth quarter of 2021.

Efficient hours worked at construction sites in the first quarter of 2022 are 6,1% lower compared to the first quarter of 2021, while they are 6,3% lower than in the fourth quarter of 2021, the Montenegrin statistics office specified.

These data confirm earlier statements by the leaders of the largest companies that construction due to the crisis and rise in prices slowed down significantly this year, leading to a shortage of supply. Demand, on the contrary, has not weakened.

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