The average price per square meter of newly built apartments in Montenegro reached €2,230 in the third quarter of the year, according to data published by the national statistics office, Monstat.
Statisticians reported that the average price of new-build apartments in Podgorica stood at €2,150 per square meter, while prices in the coastal region were significantly higher at €2,460. In the northern region, the average price reached €1,580, whereas in the central region no new-build apartment sales were recorded during the quarter.
Monstat noted that the average price of newly built apartments is strongly influenced by the share of units classified under the solidarity housing construction program.
“If the share of such apartments is higher, the average price of new-build housing will be considerably lower. Conversely, if the share is smaller, the average price will be higher,” the statement said.
In the enterprise category, the average price per square meter of new construction was €2,230 in the third quarter, while no sales were recorded in the solidarity housing segment.
Monstat clarified that its calculation of average prices includes only apartments sold for the first time on the market, meaning units for which a purchase agreement has been concluded for the first time.
The scope of the survey excludes apartments from the existing housing stock, as well as other types of real estate such as commercial properties, land, and similar assets. The research does not reflect general supply and demand trends for new apartments, but rather prices derived strictly from completed sales contracts.
