Real estate attracted €319.01 million in foreign investment in Montenegro during the first eight months of 2026, accounting for slightly more than half of total gross foreign direct investment inflows.
By comparison, investment in domestic companies and banks amounted to €89.06 million, despite increasing by 31.38% year on year. Intercompany debt contributed another €202.11 million.
The distribution shows that property investment continues to represent a substantially larger share of incoming foreign capital than direct investment in domestic businesses. The real-estate sector also overlaps with Montenegro’s tourism market. Individual accommodation recorded 8.73 million tourist nights during the first eight months, more than twice the 4.07 million nights registered by collective accommodation.
The figures do not establish whether properties financed through foreign investment were used for tourist accommodation. They show the scale of individual accommodation within the tourism sector and its connection to the wider property market.
Foreign demand for real estate supports investment in the property sector, while the relatively smaller volume directed towards domestic companies, equipment and productive capacity highlights the different composition of Montenegro’s FDI inflows. Investment in domestic companies and banks has increased, but real estate remains the largest recipient of foreign capital.
