There are no signs that housing prices will fall, according to the Montenegrin RTCG channel, which spoke with realtors. Moreover, apartment rentals have also risen in price over the year, with rates rising up to 50%.
In the housing market of Montenegro, demand exceeds supply, so prices per square meter are rising. In 2 years, up to and including the 1st quarter of 2024, apartments and houses have risen in price by 40%. Over the year, according to Monstat, the increase was 21.4%.
In Podgorica, a square meter costs 1,700 euros and above, on the coast the price depends on the area ... and it varies from 5,000 to 10,000 euros, in luxury homes it can reach up to 20,000 euros," says Goran Popovich, a real estate agent.
"Due to the specific situation with the arrival of Russians and Ukrainians, apartment rental prices rose sharply, in some cases up to 50%, so people [Montenegrins] realized that it was better to take out loans and make loan payments..."raquo;," says Popovich.
Agents predict that real estate prices will not fall in the foreseeable future.
Despite lower mortgage interest rates, buying real estate is often unaffordable for citizens, especially for young people.
