The average price per square meter of an apartment in a new building in Montenegro in the first quarter of this year was EUR 1,341, Monstat data show. This means that compared to the same period last year, prices have increased by around 6%, while compared to the last quarter of 2022, they are lower by around 4%. The average market value per square meter was EUR 1,389.
Apartments were the most expensive in Podgorica, where the average price per square meter in a new building is EUR 1,407. A square meter in a new building on the coast cost 1,392 EUR on average, and 1,201 EUR in the north – it is stated in the data published by Monstat. Apartments are still the cheapest in the central region, where the projected price per square meter in a new building was EUR 611.
The average price per square meter of an apartment in a new building depends to a significant extent on the share of apartments that belong to the category of solidary housing construction. If the share of these apartments is higher, the average price of an apartment in a new building will be significantly lower, that is, if the share is less, the average price will be higher – explained Monstat.
As they stated, the analysis shows the average prices per square meter of an apartment in a new building according to the following categories of companies, that is, the average market price and solidary housing construction.
The average market price of a square meter in new construction was EUR 1,389, while in the category of solidary housing construction, a square meter cost EUR 589 – it was stated.
Monstat explained that according to the methodology of researching the prices of apartments in new buildings, only apartments that were sold for the first time on the market, ie for which a sales contract was concluded for the first time, are taken into account in the calculation of the average price per square meter of an apartment in a new building.
The object of observation of this research is not the apartments of the old housing stock, nor other types of immovable property: business buildings, land and others. The survey does not reflect the supply and demand of new apartments on the market, but rather the prices calculated on the basis of concluded sales contracts – explained the Statistics Directorate.
