The average price per square meter of newly built apartments in Montenegro last year was 1,840 EUR, according to data from Monstat.
Statisticians reported that the average price per square meter of new apartments in Podgorica was 1,810 EUR, 2,030 EUR in the coastal region, 945 EUR in the central region, and 1,300 EUR in the northern region.
The average price per square meter of newly built apartments largely depends on the share of apartments in the category of social housing construction.
“If the share of these apartments is higher, the average price of newly built apartments will be significantly lower, whereas if the share is smaller, the average price will be higher,” the statement said.
The average price per square meter of newly built apartments in Montenegro in the category of enterprises last year was 1,850 EUR, while in the social housing construction category, it was 589 EUR.
Monstat explained that only apartments that were sold for the first time on the market, or for which the first purchase contract was signed, are included in the calculation of the average price per square meter of newly built apartments.
The study does not cover apartments from the old housing stock or other types of properties, such as commercial buildings, land, or other real estate. The research does not reflect the supply and demand for new apartments on the market but rather the prices based on concluded purchase contracts.
