In the second quarter of the year, the average price per square meter for newly built apartments in Montenegro was €1,820, as reported by Monstat.
The data reveals that in Podgorica, the average price for new apartments was €1,760 per square meter. In the coastal region, it was higher at €2,110 per square meter, while the central region saw an average of €960 per square meter. There were no recorded sales of new apartments in the northern region.
The average price of new apartments is notably influenced by the proportion of units categorized under social housing.
“When the share of social housing apartments is higher, the average price of new apartments tends to be lower. Conversely, a lower share of social housing results in a higher average price,” the report states.
For the second quarter, the average price for new apartments in the private construction category was €1,820 per square meter. However, no sales were recorded for social housing construction during this period.
Monstat clarified that the average price calculation includes only apartments sold for the first time, with a purchase agreement finalized for the first time. The study does not cover old housing stock, commercial properties, land, or other types of real estate. The reported prices are based on completed sales agreements and do not necessarily reflect overall market supply and demand for new apartments.
