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Montenegro residential property prices average €1021

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.

average property prices

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.

construction activity

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.

building permits

Source: Statistics office

Prabhu Balakrishnan
Prabhu Balakrishnan
Founder of Citizenship by Investment News. Chief Editor with over 15 years experience in PR and News publishing. He Loves writing about citizenship, residency and wealth migration. CIP Journal is a Leading publication founded in 2017 bringing latest news from CBI/RBI market.

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