Rental prices in Montenegro: an overview

Montenegro, a small but charming country on the Adriatic coast, has established itself as a popular travel destination and place to live in recent years. The country not only offers breathtaking landscapes and a pleasant climate, but also a relatively low cost of living compared to many Western European countries. In this article, we take a look at the current rental prices in various cities in Montenegro, both on the coast and inland, and provide a detailed overview table of rental prices for different apartment sizes and single-family homes.

Rental prices on the coast

The coastal region of Montenegro is known for its picturesque beaches, historic towns and lively tourist activity. Cities such as Kotor, Budva, Herceg Novi, Bar, Ulcinj and Tivat are particularly popular.

Kotor
Kotor, a UNESCO World Heritage city, attracts many foreigners and tourists. Demand for rental properties is high, which is reflected in rental prices.

• 1-room apartment: 400-600 € per month
• 2-room apartment: 600-900 € per month
• 3-room apartment: 800-1200 € per month
• Single-family house: 1200-2000 € per month

Budva

Budva is known as the tourist center of Montenegro and offers a lively atmosphere with many restaurants, bars and clubs. The rental prices are the same as in Kotor.

• 1-room apartment: 400-600 € per month
• 2-room apartment: 600-900 € per month
• 3-room apartment: 800-1200 € per month
• Single-family house: 1200-2000 € per month

Herceg Novi

Herceg Novi, near the Croatian border, is known for its fortresses and thermal springs. Until a few years ago, the rental prices from Herceg Novi via Kotor to Ulcinj were getting cheaper and cheaper. Today, however, prices are quite similar and relatively expensive everywhere.

• 1-room apartment: 300-500 € per month
• 2-room apartment: 450-700 € per month
• 3-room apartment: 600-900 € per month
• Single-family house: 900-1500 € per month

Bar

Bar is an important port and trading center. The city offers a mixture of modern and historical elements. The rental prices are the same as in Kotor.

• 1-room apartment: 400-600 € per month
• 2-room apartment: 600-900 € per month
• 3-room apartment: 800-1200 € per month
• Single-family house: 1200-2000 € per month

Ulcinj

Ulcinj, known for its long sandy beaches and a large Albanian community, is a less touristy but culturally rich area. Here, too, prices have now been harmonized and are relatively expensive.

• 1-room apartment: 200-400 € per month
• 2-room apartment: 350-550 € per month
• 3-room apartment: 450-700 € per month
• Single-family house: 600-1100 € per month

Tivat

Tivat has become famous for Porto Montenegro, a luxurious marina. Rental prices are higher here due to the upmarket lifestyle, but are also the same as in Kotor.

• 1-room apartment: 400-600 € per month
• 2-room apartment: 600-900 € per month
• 3-room apartment: 800-1200 € per month
• Single-family house: 1200-2000 € per month

Rental prices in Germany

Compared to the coast, rental prices in inland Montenegro are generally lower. Cities such as Podgorica, the capital, and Nikšić, the second largest city, offer more affordable rental options.

Podgorica

Podgorica is the economic and political center of Montenegro. Despite the increasing popularity, the rent level remains relatively moderate.

• 1-room apartment: 250-400 € per month
• 2-room apartment: 350-550 € per month
• 3-room apartment: 500-750 € per month
• Single-family house: €800-1200 per month

Nikšić

Nikšić, known for its industry and universities, has even lower rental prices than Podgorica.

• 1-room apartment: 200-350 € per month
• 2-room apartment: 300-450 € per month
• 3-room apartment: 400-600 € per month
• Single-family house: 600-1000 € per month

Cetinje

Cetinje, the historic capital of Montenegro, offers a quiet and traditional environment with low rental costs.

• 1-room apartment: 200-300 € per month
• 2-room apartment: 300-400 € per month
• 3-room apartment: 400-550 € per month
• Single-family house: 500-900 € per month

Overview table of rental prices

To make the information clearer, we have put together a table showing the average rental prices in various cities in Montenegro.

Long-term rents: A new development

It is important to emphasize that long-term renting is not common for locals in Montenegro. Traditionally, most locals own property in which they live within extended families. Houses and apartments are often passed down through generations, so there is little need for long-term tenancies.

Until a few years ago, the concept of long-term rental was almost unknown in Montenegro. Apartments and houses were mainly rented out to tourists during the season, either on a daily or weekly basis. This model dominated coastal towns in particular, where the summer months brought a high demand for short-term accommodation. Until a few years ago, the rental prices from Herceg Novi via Kotor to Ulcinj were getting cheaper and cheaper. Today, however, prices are quite similar and relatively expensive everywhere.

However, a change has taken place in recent years. With the increase in international attention and the influx of expats, digital nomads and foreign investors, the market for long-term rentals has developed strongly. Today, there are a variety of offers for long-term rentals, both in the coastal regions and inland. This development enables more people to settle permanently in Montenegro and enjoy the benefits of this beautiful country.

Factors that influence rental prices

Several factors influence rental prices in Montenegro. The most important of these include:

1. Location:
   Coastal cities and tourist hotspots have higher rents due to high demand.
2. Equipment and condition:
   Newly renovated or modern apartments are more expensive.
3. Seasonal fluctuations:
   Particularly in coastal towns, rental prices can rise in the high season (summer).
4. Neighborhood and infrastructure:
   Areas with good infrastructure, proximity to schools, hospitals and public transportation are more desirable and more expensive.

Conclusion

Montenegro offers a variety of rental options that vary greatly depending on the city and region. While the coastal cities have higher rental prices, you will find more affordable options inland. For expats and locals who want to live in Montenegro long-term, it is worth comparing rental prices and carefully selecting the desired residential location.

The low cost of living and high quality of life make Montenegro an attractive place to live, both for young professionals and retirees. Due to recent developments in the real estate market, there are now many opportunities for long-term rentals that were not available a few years ago. This enables both locals and newcomers to enjoy the beauties and amenities of Montenegro to the full.

An important point is that until a few years ago the rental prices from Herceg Novi via Kotor to Ulcinj were getting cheaper and cheaper. Today, however, prices are quite similar and relatively expensive everywhere. This convergence in prices reflects the increasing attractiveness of the entire coastal strip and the growing demand for housing.

With increasing international attention and the influx of expats, Montenegro has proven that it is not only a tourist gem, but also a place worth living in for long-term stays. Thanks to the wide range of rental options, both in the vibrant coastal cities and in the quieter inland regions, the country offers a suitable housing solution for every taste and every living situation.

Whether you prefer the historic atmosphere of Kotor, the hustle and bustle of Budva, the tranquillity of Herceg Novi or the modern infrastructure of Tivat, Montenegro has something for everyone. Domestic cities such as Podgorica and Nikšić also offer attractive alternatives with lower rents and a good quality of life.

Ultimately, Montenegro remains a country in transition, adapting to modern living needs while preserving its traditional values and natural beauty. Anyone looking for a home here can look forward to a rich culture, warm hospitality and a diverse landscape. The growing variety of rental offers makes it possible to find a suitable home in this beautiful country and enjoy life in Montenegro to the full.