Ana Djukic from one of the real estate agencies in Budva, who was interviewed by RTV, expects prices to continue to rise on the market, given that the Law on Legalization adopted last year directly restricts the supply of properties.
Property prices in Budva at the beginning of this year remained at the level of last year, says Mirko Vujovic from an agency engaged in the sale of real estate in Budva.
"We don't see prices falling. In the center of Budva, prices range from 4,000 to 6,000 euros per square meter, in the second zone from 3,000 to 4,000 euros, and in the third zone the average price is about 3,000 euros. There are very few properties on the market for less than 3,000 euros per square meter. I don't include luxury complexes and condo hotels on the first line by the sea, where prices are much higher," says Vujovic.
He notes that the comparison of the Montenegrin market with foreign ones is often simplified.
Spain has about 48 million inhabitants, and its territory is about 37 times larger than Montenegro. Of course, in some parts of the Spanish coast there are properties at lower prices than ours, especially in less developed or remote regions, where you can find apartments ranging from 1,500 to 2,000 euros per square meter. However, in the most famous resorts such as Marbella, Ibiza or some areas of Barcelona, prices range from 7,000 to 12,000 euros per square meter, and in exclusive areas and above, he says.He emphasizes that it is therefore important to make realistic and relevant comparisons.
He notes, however, that there are certain systemic problems in Montenegro, primarily infrastructural deficiencies and the slowness of the administration, but other European countries face similar problems.
The fact that investors and buyers from the (Balkan) region, Russia, Ukraine, Turkey, Germany, France, Great Britain and other countries invariably choose Montenegro for investment or residence speaks for itself.Economic analyst Davor Dokic believes that the cancellation of direct flights from Moscow is causing great damage to Montenegro, as Russian citizens are traditionally actively buying real estate.
"Russian tourists were the second in terms of the number of overnight stays, right after Serbian ones, while Russians are the most solvent guests," Dokic notes.
Results of the Montenegro real estate market in 2025
Source: RTV
