The real estate market in Montenegro continues to show stable growth, especially in tourist-attractive regions. This makes the country attractive both for investors and for those who want to buy housing for permanent residence or vacation. In this review, we will analyze in detail the average cost per square meter in various cities and regions of Montenegro, highlight market segments and draw conclusions about its dynamics.
Average cost per square meter of housing in cities of Montenegro
Depending on the location, level of infrastructure and distance from the sea, real estate prices can vary significantly. Let's consider how much a square meter costs in different regions:
Budva Riviera – leader in prices
The Budva Riviera is the most popular location for investors and buyers looking to buy property by the sea. The main city of the region is Budva, known for its developed infrastructure, luxurious beaches and rich tourist life.
Average price per square meter in new buildings in Budva is 3 – 000 euros, and in finished houses – 2 – 800 euros. In the neighboring Becici, where many luxury resort complexes are located, prices are slightly lower: 2 – 500 euros per square meter. Although it is here that you will find picturesque beaches that have repeatedly been recognized as some of the best in Europe. More affordable options can be found in the town of Petrovac, where prices start from 2 euros per square meter.
“The Budva Riviera remains the most popular region among investors, thanks to its developed infrastructure and popularity among tourists,” notes Vyacheslav Mayevsky, founder of the MD Realty agency.
Prestigious areas such as Sveti Stefan и Przhno, traditionally attract buyers of luxury real estate. Here, the most popular type of housing is luxury villas with panoramic views of the Adriatic Sea. The average cost of villas in these areas starts from 1 euros (about 4 – 500 euros per square meter), and exclusive properties with spacious terraces, swimming pools and private access to the sea can significantly exceed this amount. Privacy, first-class infrastructure and status make Sveti Stefan and Przno some of the most desirable locations for wealthy buyers.
Interesting fact: the island of Sveti Stefan is one of the most famous resorts in Montenegro, where at one time Many businessmen and celebrities have stayed here.
Boka Kotorska Bay – a combination of antiquity and luxury housing
The Bay of Kotor is a region that combines unique architecture, rich history and prestigious residential complexes. There are such cities as Kotor, Dobrota, Tivat and many small villages with picturesque views of the bay.
В Kotor the cost of apartments is 2 – 400 euros per square meter. The city attracts those who value historical atmosphere, but buying here requires caution - the Old Town has limited opportunities for renovation and redevelopment. Kindness, a popular area of Kotor, prices start from 2 euros per square meter.
В Tivate, especially in areas adjacent to Porto montenegro, housing in new buildings costs 3 – 500 euros per square meter. However, in more remote areas you can find offers for 2 – 200 euros per square meter.
Interesting fact: Porto Montenegro in Tivat is a world-class luxury yacht complex that attracts wealthy buyers from all over the world.
Herceg Novi – an accessible coastline
The region is famous for its subtropical vegetation, mild climate and abundance of sunny days per year. The city is popular among those looking for a quiet life by the sea without the bustle of tourist centers. Herceg Novi and its surroundings are traditionally cheaper than Kotor and Tivat. Here apartments can be purchased for prices starting from 1 – 800 euros per square meter. This makes it one of the most affordable coastal towns in Montenegro. Villas in this region cost from 750 euros, which is more profitable compared to the Budva Riviera.
Interesting fact: Herceg Novi is known as the city of a thousand steps – its hilly landscape creates a special atmosphere with stunning views of the sea.
Bar Riviera – profitable investments
Bar remains one of the most affordable coastal cities, combining modern residential complexes, developed infrastructure and convenient transport links. The average price per square meter in new buildings is 1 – 600 euros, and in secondary housing you can find offers from 1 euros. Villas in Bar cost from 500 euros, which makes this city attractive for those who want to live by the sea at a reasonable price.
Interesting fact: Bar is one of the most important ports in Montenegro, connecting the country with Italy via the Adriatic Sea. It is also home to one of the oldest olive trees in the world – over 2 years old.
Central and mountainous regions – for those seeking solitude
В Podgorica, the country's capital, housing prices are significantly lower than on the coast. New buildings here are sold at 1 – 400 euros per square meter. This is a promising city for investors, as it is here that the country's main business centers are concentrated.
Mountainous regions such as Kolasin и Zabljak, are becoming increasingly popular due to the development of winter tourism. In Kolasin, the price per square meter is 1 – 200 euros, and in Zabljak – from 1 euros. Both regions are located near picturesque national parks of Montenegro and are a great place for active recreation all year round. In recent years, Kolasin has become the center of large-scale investment projects such as Swissotel, Montis and others, which contribute to its rapid development and the growth of demand for real estate.
In Zabljak, in turn, there is more active construction of small houses (chalets) in the traditional Balkan style, and eco-tourism is also actively developing. These cozy houses are in high demand all year round and are often rented out, giving tourists the opportunity to enjoy the nature and tranquility of this unique region.
Interesting fact: Kolasin is the center of winter tourism in Montenegro, attracting fans of alpine skiing and snowboarding. It is also called "little Switzerland" due to its beautiful mountain landscapes.
How to choose real estate in Montenegro?
To make the presented data more visual, we have prepared a comparative graph of prices per square meter of housing in different regions of Montenegro. It allows you to quickly assess in which cities and resort areas the cost of real estate is the highest, and where you can find more affordable options. As you can see, the leaders in price remain the prestigious areas of the Budva Riviera, Tivat and Kotor, while more budget-friendly offers can be found in Bar, Herceg Novi and the central regions of the country. Such an analysis will help you better navigate the market and choose the best option depending on your goals and budget.
When choosing a property, it is important to consider not only the price, but also the prospects for growth in value, rental opportunities and the area's infrastructure. Here are some recommendations:
- For investors: Budva, Tivat и Podgorica – the most profitable regions in terms of rent. Here you can expect high income from renting out housing to tourists.
- For life by the sea: Becici, Bar и Herceg Novi offer a good balance between price and quality of life.
- For privacy and nature: Kolasin, Zabljak и Lustica Suitable for those who are looking for silence and beautiful natural landscapes.
Mortgage lending in Montenegro
local banks offer programs with interest rates ranging from 4% to 8%, depending on the bank and loan terms, for Montenegrin citizens. Foreigners can obtain mortgages from a limited number of banks, such as Erste Bank, Lovćen Bank, First Bank and Crnogorska Komercijalna Banka. Interest rates for non-residents vary, but average from 6% per annum.
Main conditions for foreign borrowers:
- Interest rate: from 6% per annum.
- Loan term: up to 7 years.
- Initial payment: from 30% of the property value.
What documents are needed to apply for a mortgage:
- Passport or its certified copy.
- Certificate of income for the last 3 months.
- A statement of the movement of funds in a bank account for 6 months.
- Real estate valuation report.
Сonclusion
Montenegro's real estate market in 2025 remains diverse and offers accommodation for every budget. The Budva Riviera and the Bay of Kotor continue to hold the lead in prices, while the Bar Riviera and mountain regions are becoming a more affordable alternative.
If you are considering buying real estate, it is important to focus not only on the cost per square meter, but also on the infrastructure, liquidity of the property and its investment attractiveness. Regardless of the purpose of the purchase - be it investment or relocation - the Montenegrin market offers many interesting options.
Useful materials
If you have any questions, you can always contact the MD Realty real estate agency for help. Our experienced experts will free consultation and will help you choose the best real estate option in any region of Montenegro.
In addition, for those who are seriously considering buying real estate in Montenegro, we have put together a detailed guide. In it, we have analyzed all the key stages of buying real estate in 2025, including examples and real cases. Read the detailed instructions here:
