The average price per square meter of an apartment in new construction in Montenegro in the second quarter amounted to 2,200 euros, according to data from Monstat.
Statisticians stated that the average price per square meter of an apartment in new construction was 2,110 euros in Podgorica, 2,330 euros in the coastal region, 1,070 euros in the central region, and 1,550 euros in the northern region.
The average price per square meter of an apartment in new construction largely depends on the share of apartments belonging to the category of social housing construction.
If the share of these apartments is higher, the average price of an apartment in new construction will be significantly lower, while if the share is lower, the average price will be higher, the statement said.
The average price per square meter of an apartment in new construction in Montenegro in the business sector category in the second quarter was 2,200 euros, while in the social housing construction category there were no recorded sales of new apartments.
Monstat explained that the calculation of the average price per square meter of an apartment in new construction only includes apartments sold for the first time on the market, meaning those for which a purchase agreement was signed for the first time.
The study does not include apartments from the existing housing stock or other types of real estate such as commercial buildings, land, and others. It is not a reflection of the supply and demand for new apartments on the market, but rather prices calculated based on concluded purchase agreements.
