NewsMontenegro, Real estate prices in Budva have reached their highest point

Montenegro, Real estate prices in Budva have reached their highest point

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Real estate prices in Budva have reached their highest point, real estate agent Tomislav Ranković told RTV Budva. He points out that the current situation is chaotic, that prices are enormous and that there are no longer any rules, and nobody knows the answer to the question of whether the rise in real estate prices is in sight.

There are no longer rules by which prices can be formed when it comes to real estate, everyone is trying to earn as much as possible regardless of what they have offered. Lower prices can only be expected if the real estate papers are not complete, real estate agent Tomislav Ranković said.

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– The current state of real estate is simply chaotic. There are no rules, real estate is sold, prices for new construction are extremely expensive, and there is a big difference for old construction. The most common question is what we can buy for EUR 65,000, and the answer to us is that they currently don’t have anything with clean papers for that price. Possibly, these are all properties without a civil license or some small properties on the third, fourth floor without an elevator. Real estate has reached the highest point in price – said Ranković.

When it comes to the prices for renting apartments, they have also reached their peak, which mostly affects fellow citizens who do not have a roof over their heads, and salaries are not high enough to cover asking for a deposit or paying rent in advance, said Ranković.

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– Two months ago, we witnessed that a one-room apartment reached a price of up to 600 EUR, and now it goes up to 800, 900 EUR in new buildings, and I think that the most affected are people who are looking for a rental and a roof over their heads, because large deposits are required and rents in advance, and our local people do not have the ability to pay that. We also understand people who are in the business of letting and who have their own properties and who take advantage of that situation. The situation is critical – he said.

The trend of rising prices has not only affected real estate, but also all other life segments, and the end is not in sight, added Ranković.

– That’s an everyday question, and I don’t have an answer to it. Everything has changed in every sphere of life, from restaurants, markets, taxi services to real estate. Probably all this follows the economic crisis, until how long it will last, we don’t have an answer – he said.

It Is certain, he states, that they are in a worse situation compared to other cities in Montenegro, because Budva is attractive for foreigners who have the ability to pay for real estate.

– We will probably have a situation for those who came from the north of our country, that they will be forced to return because they will not be able to cover everything with their salary, which is not at a satisfactory level – concluded Ranković.

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