Always dynamic Budva with its central position on the Montenegrin coast is still one of the most desirable locations for those looking to buy real estate in Montenegro.
Inquiries that arrive daily are from Europe, especially Germany, but also from other countries whose residents recognize Budva as an international environment with beautiful nature and beaches, yet enough other content that gives them the feeling of an urban environment they are used to.
For all those who are interested in real estate and square footage prices in Budva, in the following text we have answered questions related to the price depending on the location of the real estate, as well as which real estates are most in demand in Budva.
Buying real estate in Budva as a safe investment
In the last year, the demand for apartments as an investment has been very frequent. For many, such a variant is ideal if the property is located within a complex that offers maintenance and rental services. This type of real estate gives buyers the freedom to choose the dates when they stay and when they want to offer their stay on various rental platforms.
Among other things, houses that are slightly separated from the crowds but still close to all the facilities needed for everyday life are also in demand. In addition to living, some clients are also looking for real estate in Budva where they plan to move permanently.
The price of a square meter In Budva depends on the microlocation
The offer of the Budva region can be divided into several micro-locations that differ from each other in terms of geography, price and infrastructure.
Which locations have the highest square footage prices in Budva?
Stari Grad is most attractive in the warmer months of the year, however, it also ranks well in winter. Although Budva is the most popular apartment for sale, its offer also includes a large selection of business premises, and the price per square meter of these properties ranges from EUR 3,200/m2 to EUR 3,700/m2, depending on the condition of the property, i.e. whether it needs renovation.
The Inner center of Budva, which includes the zone along the main boulevard, also has a price of around 3,500 EUR/m2 for old buildings, while the price for new buildings ranges from 4,000 EUR/m2 to 4,500 EUR/m2. More exclusive new buildings closer to the promenade, such as condo-hotels, reach with their price up to 7,000 EUR/m2 and offer a return of profit on the investment or a vacation spot that is always at their disposal.
When it comes to the first line, as for other real estate on the sea in Montenegro, there are really no rules for the price because the value of the location and the convenience it allows – not to use a car and avoid all the traffic at the same time. Also, there are very few such offers, so the price is high due to the limited selection.
Bečići and Rafailovići have become almost an extension of Budva, as they offer all the city amenities, but with slightly less crowds than in the center of Budva. We can say that they are a combination of residential and tourist zones, where there is a mix of tourists and those who live there permanently.
Prices start from 1,900 EUR/m2 for old buildings, up to 4,000 EUR/m2 for new buildings. The location can be divided into Ivanovići and the part along the main road, i.e. the beach. This area is often the choice of people who want a quieter location, but not to give up the proximity to the beach.
Real estate on the stretch Pržno – Sveti Stefan – Reževići is mostly chosen by clients who prefer the countryside and peace, as it offers proximity to Miločerski Park, attractive beaches, and at the same time a lively location in the summer with all the restaurants, cafes and sports activities on offer. The offer here includes apartments and houses, a little more authentic style of construction. Prices range from 2,000 EUR/m2 to 3,500 EUR/m2.
Locations with the best prices per square meter in Budva
Currently, the most favorable zone in the Budva region is above the Jaz beach, which includes the Seoce – Prijevor zone. At this location, you can find offers of houses and apartments whose price ranges from 1,000 EUR/m2 to 2,500 EUR/m2. The reason for the still low price is the fact that the DUP – a detailed urban plan – has not yet been adopted for the zone. Despite this, some buyers opt for a property there because of the distance from direct traffic and the panoramic views that are not yet obscured by other constructions.
The area Petrovac – Buljarica is currently preferred more as a summer destination for a family/peaceful holiday, although it also has its permanent residents. Also, this location is a frequent choice of people who love nature and less traffic than Budva. The offer includes apartments and houses, and the prices range from 1,600 EUR/m2 to 2,500 EUR/m2. An additional plus is that Petrovac offers most of the facilities, residents do not depend on the proximity of Budva, but can also count on Bar as the first city center.
The zone along the ring road is somewhat more favorable, so in the locations of Dubovice, Golubovina, Rozina, Gospoština, Mainski put and Adok, we can find prices ranging from 2,500 EUR/m2 to 3,500 EUR/m2. For older and less accessible buildings, you can find a price for 1,500 EUR/m2, however, often with an incorrect use or construction permit. A more favorable price is expected for the settlements of Lazi and Podkošljun.
All listed prices for real estate in Montenegro naturally vary depending on the year of construction, state of documents in the cadastre, views, access, privacy, parking possibilities and the potential of the real estate. In the end, the decision and choice always comes down to the preferences of the individual, since everyone has a different vision of their ideal real estate.
