Montenegro’s real estate market continues to show strong growth, with rental and sale prices of residential units rising year after year, reaching impressive levels in some regions.
According to Stefan Mišković, Chairman of the Board of the Association of Real Estate Agencies of Montenegro (UANCG), rental prices in the capital Podgorica vary widely. Garages in neighborhoods like Zabjelo or Stari Aerodrom rent for 300 to 400 EUR monthly, while newer and better-equipped apartments can command up to 500 EUR. One-bedroom apartments in popular areas such as City Quarter and Preko Morače rent for 450 to 650 EUR, two-bedroom units range from 500 to 700 EUR, and luxury apartments can reach 1,000 EUR per month.
Prices on the Montenegrin coast are even higher, especially during the summer season. Rentals for studios and one-bedroom apartments in Budva, Kotor, and Herceg Novi can go up to 600–800 EUR, while larger apartments rent for around 1,200 EUR monthly.
In Podgorica, the most affordable rentals are found in the suburbs, whereas the highest prices are for luxury apartments near the Big Fashion Center and parts of Preko Morače.
When it comes to property purchases, the average price per square meter for new buildings in Podgorica is about 2,066 EUR, while coastal prices average 2,328 EUR per square meter. In luxury buildings and central locations in the capital, prices can reach 3,000–3,500 EUR per square meter. Popular neighborhoods include areas around the Big Fashion Center, Blocks 5 and 6, Preko Morače, and Gorica C.
On the coast, prices for apartments in first-line sea locations can go up to 5,000 EUR per square meter. In prestigious resorts such as Porto Montenegro, Porto Novi, and Luštica Bay, resale prices can reach as high as 15,000 EUR per square meter depending on location and level of furnishing.
More affordable options remain available in northern Montenegro, averaging around 1,200 EUR per square meter, while in central municipalities outside Podgorica prices are around 1,050 EUR per square meter.
Since 2020, real estate prices in Montenegro have nearly doubled. The price per square meter in new construction, which was about 1,100 EUR then, now exceeds 2,150 EUR. Rental prices have also steadily increased, especially since 2022, driven by growing demand from foreign citizens, digital nomads, and investors.
Despite warnings from analysts that this rapid growth may not be sustainable long-term, interest in Montenegrin real estate remains strong. Luxury locations continue to set the price trends, while the standard market faces pressure from high demand and a shrinking supply of available properties.
