Purchase prices of apartments in Montenegro
Montenegro, a small country on the Adriatic Sea, has become a popular destination for real estate investments in recent years. The breathtaking landscape, rich culture and growing economy make it an attractive place to buy a home. In this article, we will examine price trends over the last ten years and compare current prices for 1-bedroom, 2-bedroom and 3-bedroom apartments in various cities on the coast and inland. We will also provide you with a clear table to help you decide.
Price development over the last 10 years
Montenegro has experienced remarkable development in the real estate sector over the last ten years. A decade ago, real estate prices were relatively low as the country had not yet attracted the attention of international investors. However, several factors have contributed to an increase in prices since 2010:
- Economic growth: Montenegro’s economy has grown steadily, which has led to increased interest in real estate investments.
- Tourism boom: Tourism has developed into an important economic sector. Tourists from all over the world are discovering Montenegro, which has increased the demand for vacation apartments.
- Infrastructure projects: Investments in infrastructure, such as the construction of new roads and airports, have improved the country’s accessibility and attractiveness.
Price trend
In 2010, the average price per square meter for apartments in Montenegro was around EUR 1,200. Prices rose steadily until 2020, reaching an average of EUR 1,700 per square meter. This price increase is due to the factors mentioned above as well as the country’s growing popularity as a residential and vacation destination.
Current apartment prices in Montenegro
Prices for apartments vary greatly depending on the location. The coastal towns such as Budva, Kotor, Tivat and Bar are particularly popular and therefore more expensive, while the interior offers cheaper options. Below you will find an overview of current prices for 1-bedroom, 2-bedroom and 3-bedroom apartments in the most important cities.
Prices on the coast
The coastal region of Montenegro is known for its picturesque beaches and historic towns. Properties in Budva, Kotor, Tivat and Bar are particularly popular. These cities not only offer a high quality of life, but also a good infrastructure and numerous leisure opportunities.
Domestic prices
Compared to the coastal towns, real estate prices in inland Montenegro are lower. Cities such as Podgorica, Nikšić and Cetinje offer a more affordable alternative for those who prefer urban life but still want to live close to nature.
Clear price table
| City | Apartment type | Price/m² (min) | Price/m² (max) |
|---|---|---|---|
| Budva | 1-room | 2.000 € | 2.500 € |
| 2-room | 2.200 € | 2.700 € | |
| 3-room | 2.500 € | 3.000 € | |
| Kotor | 1-room | 1.800 € | 2.300 € |
| 2-room | 2.000 € | 2.500 € | |
| 3-room | 2.200 € | 2.800 € | |
| Tivat | 1-room | 1.900 € | 2.400 € |
| 2-room | 2.100 € | 2.600 € | |
| 3-room | 2.300 € | 2.900 € | |
| Bar | 1-room | 1.600 € | 2.000 € |
| 2-room | 1.800 € | 2.200 € | |
| 3-room | 2.000 € | 2.500 € | |
| Podgorica | 1-room | 1.300 € | 1.700 € |
| 2-room | 1.500 € | 1.900 € | |
| 3-room | 1.700 € | 2.100 € | |
| Nikšić | 1-room | 1.000 € | 1.400 € |
| 2-room | 1.200 € | 1.600 € | |
| 3-room | 1.400 € | 1.800 € | |
| Cetinje | 1-room | 1.100 € | 1.500 € |
| 2-room | 1.300 € | 1.700 € | |
| 3-room | 1.500 € | 1.900 € |
Why are apartment prices in Montenegro so attractive?
There are many reasons why buying an apartment in Montenegro could be a wise decision:
- Quality of life: Montenegro offers a high quality of life with a Mediterranean climate, beautiful beaches and breathtaking nature.
Economic stability: The country’s economy is growing steadily and the government is encouraging foreign investment. - Tourism potential: With increasing numbers of tourists, investing in a vacation apartment can be a lucrative source of income.
- Cultural diversity: Montenegro has a rich history and culture, which makes life there varied and interesting.
- Simple immigration rules: The country has relatively simple immigration rules, which makes it easier for foreign buyers to settle there.
The town of Bar on the coast of Montenegro
Bar is another important town on the Montenegrin coast that is often overlooked but offers many advantages. The city is known for its large harbor, historical sites and a lively cultural scene. Prices for apartments in Bar are somewhat lower compared to the better-known coastal towns, but offer excellent value for money.
Current prices in cash
- 1-room apartment: 1,600 – 2,000 €/m²
- 2-room apartment: 1,800 – 2,200 €/m²
- 3-room apartment: 2,000 – 2,500 €/m²
Investing in an apartment in Bar can be particularly attractive, as the city has a lot to offer both tourists and locals. The proximity to major transport links and the picturesque surroundings make Bar an ideal location for buying a property.
Conclusion
The decision to buy an apartment in Montenegro can be a worthwhile investment, especially when you consider price developments and current market trends. The coastal cities offer attractive, albeit more expensive, options, while the interior offers cheaper alternatives. Whether for personal use or as an investment, the variety of properties in Montenegro can meet different needs and budgets. If you are interested in buying an apartment in Montenegro, now is the right time to fulfill your dream of owning a home in this beautiful country.
Thanks to the precise analysis of price trends and current market prices, you are now well prepared to make an informed decision. Remember, prices can vary depending on the specific location and features of the apartment, so it is advisable to obtain comprehensive information and possibly seek professional advice.
When buying an apartment in Montenegro, you should consider all the factors that could affect your investment. Good luck in your search for the perfect apartment in Montenegro!
