NewsMontenegro, "Real estate prices can only rise"

Montenegro, “Real estate prices can only rise”

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The average price per square meter of a newly built apartment in Montenegro jumped to 1,300 euros in the second quarter, according to Monstat data, 11.5 percent more than in the same period last year. Given that demand has not decreased, real estate prices can only rise, real estate agent Božidar Raičević is convinced.

For the purchase of a new building in Montenegro, in the previous 8 months, it is necessary, on average, to pay a minimum of 1,350 euros per square meter. When it comes to old buildings, depending on the location, the price ranges from 900 to 1,250 euros per square meter.

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“At the moment, the most expensive properties are across Morača and in the City quarter. There, apartments went up for between 2,000 and 2,500 euros per square meter. The best sellers, at 1,350 euros per square meter, are Stari Aerodrom, Ljubović, Zabjelo, everything else is going up”, said Raičević for Gradska TV.

As he points out, compared to last year, a square meter costs 300 euros more, due to the increase in the price of construction materials, as well as high demand. He says that the prices will not decrease in the next six months, but may only increase.

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“Properties are mostly bought by citizens of Montenegro, while foreigners are the most frequent tenants”, Raičević concluded, local media reports.

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