The average price per square meter of an apartment in a new building in Montenegro for the second quarter (April-June) is the highest in the last three years and amounts to EUR 1,502, while the price per square meter in Podgorica is the highest in the last 13 years and amounts to EUR 1,581, according to preliminary data from the Administration for Monstat statistics.
The price per square meter in the second quarter of this year is on average EUR 75 higher than in the same period in 2022 and EUR 111 higher compared to the first three months of this year, when it was EUR 1,389. The prices published by Monstat were obtained on the basis of concluded sales contracts and refer to sales made by registered companies, while apartments from union solidarity programs are not included.
On the coast, that is, in Bar, Budva, Herceg Novi, Kotor, Tivat and Ulcinj, the average price per square meter is EUR 1,413 and is EUR 60 lower compared to the same period last year, when it was EUR 1,473. The current price on the coast is higher than in the first quarter of this year, but the data, as in that period, show that apartments in Podgorica are still more expensive than on the coast.
The average price per square meter in new construction in commercial sales in the north of Montenegro has increased, after three quarters of decline, and now amounts to EUR 1,280. In the northern region, apartment prices were higher at the end of 2021 when they were 1,399 EUR and at the beginning of last year when the average was 1,352 EUR.
