Preliminary data published by Statistical Office of Montenegro shows that average price of an apartment in Montenegro is higher by 11,6% compared with the same period last year. Economic analyst and professor in the Faculty of Management Herceg Novi, Mr Vasilije Kostić, cites reasons why the price of real estate has gone up so drastically.
He points out that number of residential units in Montenegro exceeds the need for them. Besides, real estate purchase is a form of investing that offers specific advantages in comparison to other possibilities.
“By this I mean poorly-developed securities market”, said Mr Kostić.
In his opinion, increase in the price of an apartment square meter in Montenegro is impacted by the fact that our country is very attractive tourist destination.
“As it is becoming even more attractive, the interest in real estate in Montenegro grows simultaneously”, explains Mr Kostić.
Increase in the real estate price is followed by increase in economic activity, i.e. economic dynamics.
According to data published by Statistical Office of Montenegro, average price per square meter in new construction in Podgorica was €1204 in the second quarter of 2019. At coast, it amounted to €1368, in the central region €677, whereas in the north it was €880.
