According to data from Monstat, the average price per square meter of a new construction apartment in Montenegro in the fourth quarter of 2023 was 1,790 euros. In Podgorica, the price per square meter was 1,862 euros.
On the coast, the price was 1,771 euros, and in the central region of the country, it was 915 euros. In the north, the average price per square meter of a new construction apartment was 1,091 euros.
Monstat emphasizes that the average price per square meter of a new construction apartment significantly depends on the participation of apartments in the category of solidarity housing construction. They state that if the participation of these apartments is higher, the average price of an apartment in new construction will be significantly lower; conversely, if the participation is lower, the average price will be higher.
The average price per square meter of a new construction apartment in Montenegro in the category of economic companies in the fourth quarter of the previous year was 1,795 euros. In the category of solidarity housing construction, it was 589 euros.
According to the methodology of the “Apartment Prices in New Construction” survey, only apartments that are first sold on the market, i.e., for which the first sales contract is concluded, are taken into account. The focus of this research is not on apartments from the old housing stock, nor on other types of real estate such as business premises, land, and the like.
The study does not reflect the supply and demand for new apartments on the market but rather prices calculated based on concluded sales contracts, as stated in Monstat’s press release.
