Montenegro residential property prices down by 1.9%, according to the latest report from statistics office.
The average price of dwellings in a new residential building in Montenegro in II quarter of 2018 was €1081 which decreased by 1.9% compared with the II quarter of 2017, while it is 7.0% decrease compared with the I quarter of 2018.
Average prices
The average price of residential properties per square metre
- New residential building in Podgorica in II quarter of 2018 was 1,021 EUR
- Coastal region was 1,433 EUR,
- In Central region 560 EUR,
- Dwellings in a new residential building in northern region was 900 EUR.
The prices in the capital Podgorica, is less than the national average.
Regions
- Coastal region: Bar, Budva, Herceg Novi, Kotor, Tivat and Ulcinj.
- Central region: Cetinje, Danilovgrad and Nikšić.
- Northern region: Andrijevica, Berane, Bijelo Polje, Gusinje, Kolašin, Mojkovac, Petnjica, Plav, Pljevlja, Plužine, Rožaje, Šavnik and Žabljak.
| Average prices of dwellings in new residential buildings by region², in EUR, II quarter of 2018 (p) | ||||
| Prices per 1m² in EUR | Price for arranging construction land | Price of construction works | Other costs | |
| (1)=(2)+(3)+(4) | (2) | (3) | (4) | |
| Montenegro (average) | 1,081 | 202 | 722 | 157 |
| Enterprises (average market) | 1,219 | 261 | 760 | 198 |
| Solidarity housing development 1 | 602 | 0 | 592 | 10 |
| The capital city of Podgorica (average) | 1,021 | 204 | 623 | 194 |
| Enterprises (average market) | 1,038 | 214 | 621 | 203 |
| Solidarity housing development | 674 | 0 | 674 | 0 |
| Coastal region (average) | 1,433 | 298 | 952 | 183 |
| Enterprises (average market) | 1,492 | 329 | 969 | 194 |
| Solidarity housing development | 850 | 0 | 790 | 60 |
| Central region (average) | 560 | 7 | 547 | 6 |
| Enterprises (average market) | 825 | 153 | 583 | 89 |
| Solidarity housing development | 547 | 0 | 545 | 2 |
| Northern region (average) | 900 | 315 | 414 | 171 |
| Enterprises (average market) | 900 | 315 | 414 | 171 |
| Solidarity housing development | – | – | – | – |
Construction activity
The value of finalised construction works in the II quarter of 2018 is higher for 35.7% compared with the same quarter of previous year, while it is 27.3% higher compared with the I quarter of 2018.
Building permits
In the fourth quarter of 2017, in Montenegro were issued 275 building permits. Of the total number of building permits issued, 171 building permits refer to natural persons, while 104 building permits were issued for legal persons.
Source: Statistics office
