The construction industry in Montenegro showed steady growth last year, with total construction output reaching €672 million—a 2.7% increase compared to 2023, according to the Statistical Office of Montenegro (Monstat).
Residential vs. Non-Residential Construction
Out of the total amount, €345 million was allocated to residential buildings, while €327 million was spent on non-residential structures, including infrastructure and industrial projects. This split highlights the balanced development focus between housing and broader infrastructure.
Housing Developments and Availability
In 2024, Montenegrin construction companies completed 1,676 apartments, covering a usable floor area of 98,000 square meters. At the same time, 2,498 apartments remain unfinished, representing 190,000 square meters of housing still under development. These figures are crucial in evaluating housing supply and demand, especially in urban planning and real estate investment.
How the Data Was Collected
Monstat clarified that the data was gathered through a construction and materials consumption survey, targeting companies operating within the country. The survey used a sample-based method and included:
- All medium and large enterprises (classes 2 and 3)
- A randomly selected group of small enterprises (class 1)
Only companies with five or more employees and registered under Sector F – Construction in the Statistical Business Register were included.
What Does the Construction Value Include?
The reported construction value includes:
- All construction materials used
- Labor costs, whether paid or unpaid
These values apply to both completed and ongoing projects during the reporting year.
Definition of an Apartment
According to Monstat, an apartment refers to any structurally connected unit intended for living, which may consist of one or more rooms, with or without additional facilities like kitchens, bathrooms, hallways, or storage areas. The usable area is measured within the walls of the unit.
Material Consumption Reporting
Construction companies must report their total material usage, including energy and fuel consumed for shared operations. On the other hand, non-construction firms only report materials used by their construction units and for internal operational needs.
These reports are based on inventory records, regardless of whether the materials were purchased or produced internally.
