The price per square meter of an apartment in Podgorica, the capital of Montenegro, averages about 1,350 euros, which is 13% higher than in the pre-pandemic period.
The average price per square meter of a new apartment in Montenegro in the 4th quarter of 2021 was 1,161 euros and was 2.8% lower compared to the 30th quarter of 2021 and 15.3% higher than in the 4th quarter of 2020, the statistical office said Monstat.
“Average price per square meter of a new apartment in Podgorica in the fourth quarter of 2021 was 1,232 euros, in the coastal region — 1,370 euros, in the central region — 610 euros, and in the northern region the average price per square meter in a new building was 1,399 euros,” reports MONSTAT.
Investors explain the price jump by rising construction material costs. The fact that real estate prices in the capital have risen over the past two years is also confirmed by various real estate agencies.