Finding affordable housing is becoming increasingly difficult for the average citizen in Montenegro. Nearly 20,000 households currently rent, with one-bedroom apartments in Podgorica reaching rents of up to €544, while prices on the coast are even higher.
Housing prices and rents have never been higher, driven in part by a recent influx of foreign residents, making apartments increasingly unaffordable for local citizens. Dragan Živković of the Tenants’ Association highlights the lack of government support, noting that only 140 out of nearly 15,000 tenant families in Podgorica received subsidies.
Foreign demand heavily influences prices: a one-bedroom apartment that once rented for €315 now costs up to €544. The situation is similar in southern regions, where mortgage payments and rent are increasingly comparable.
Real estate agencies cite multiple global factors for the price surge, including the COVID-19 pandemic, inflation, increased demand, growth in the construction sector, and the Ukraine crisis, all contributing to a rapid rise in housing costs.
The future of Montenegro’s rental market remains uncertain, but tenants are currently bearing the heaviest burden in the escalating housing crisis.
