In Montenegro, the average price per square meter of newly built apartments in the third quarter was €1,854, as reported by Monstat. This marks a 1.81% increase compared to the previous quarter and a 13% rise compared to the same period last year. When compared to the third quarter of 2022, the price has surged by 41%.
In Podgorica, the average price per square meter in newly constructed buildings reached €1,824, reflecting a 3.46% rise from the second quarter. Compared to last year, the price has risen by 7%, and compared to the third quarter of 2022, it has increased by 25%.
The highest prices were recorded along Montenegro’s coast, where the average price per square meter stood at €1,995. Although this represents a slight decrease from the previous quarter (€2,107 per square meter), it reflects a 26% increase year-on-year and a 38% rise compared to the third quarter of 2022.
In the northern region, the average price per square meter was €1,316. Notably, no sales of newly built apartments were recorded in this area during the second quarter. The price in the north has decreased by 25% compared to the same period last year, and it has also dropped by 25% compared to the third quarter of 2022.
In the central region, the price per square meter of newly built apartments was €960, which remained unchanged from the second quarter. Compared to last year, there was a 45% increase, and compared to 2022, the price rose by 57%.
Monstat also reported that the overall market price for newly built apartments averaged €1,854, while no sales were recorded in the category of social housing.
Monstat clarified that the average price calculation only includes newly sold apartments, specifically those for which a purchase agreement was concluded for the first time.
The study does not account for older apartments or other types of real estate such as commercial properties or land. The data reflects prices based on concluded purchase agreements rather than market demand or supply.
