In Q2 2025 (April–June), the average price of a new-build apartment in Montenegro reached €2,201 per square meter in commercial sales, with Podgorica averaging €2,108, according to Monstat. Prices rose around 2% from Q1 and 20% compared to the same period last year, marking a 50% increase since early 2023.
On the coast, the average was €2,333, in the central region (excluding Podgorica) €1,068, and in the north €1,547. Construction costs in Podgorica are reported to be roughly double those in Nikšić.
Foreign buyers continue to support high prices, with €228 million spent on real estate in the first half of 2025 — led by Serbia (€41.3M), Turkey (€29.5M), the U.S. (€24M), and Germany (€20.6M). Foreign sellers offloaded €59 million worth of property in the same period, with most sales by Serbian, Croatian, and Russian nationals.
Domestic housing demand is also growing, supported by €109 million in approved home loans in H1 2025 — €26 million more than last year — at an average interest rate of 5.06%, the lowest in two years.
Montenegrin citizens purchased €28.8 million worth of property abroad in the first six months, mostly in Serbia (€13.6M), Italy, and Georgia.
