The real estate market in Montenegro showed steady price growth in 2024, especially in the new-build segment. According to the statistical office Monstate, in the third quarter of 2024, the average price of a new building was €1 per sq.m, which is 854% more than the same period of the previous year.
In the central regions of the country, a more moderate increase in prices is observed. The average cost of new housing here was 980 euros per square meter.
The main reasons for the price increase include:
- Growing demand from foreign investorsMontenegro maintains a loyal tax policy for property owners, making the country attractive to buyers from Europe, Russia and the Middle East.
- Limited supply of new properties on the Adriatic coastDespite the increase in the number of construction projects, there remains a shortage of luxury housing in popular tourist regions such as Budva, Tivat and Bar.
- Positive impact of economic reformsMontenegro's accession to international organizations and expected entry into the European Union make the region more stable for long-term investment.
Experts predict that real estate prices will continue to rise in the coming years, especially in areas with developed tourist infrastructure. For example, villas with a view on the sea in the Bay of Kotor area have already increased in price.
For those considering buying a home in Montenegro, experts advise not to delay the decision, as price growth may accelerate. This is especially true for properties near new infrastructure projects, such as yacht marinas and golf resorts.
