Apartment rental prices have reached infamous heights. Last year shook the budgets of domicile population that lives in rented apartments, because the prices for a rented studio apartment in Podgorica range up to an incredible €350, and a rented one-room apartment, believe it or not, up to €900. This is happening in a country where the average salary is slightly above €700. However, expectations are that there will be a drop in rental prices, and the real “cooling off” of “obscenely” high prices will only take place in 2024.
Stefan Miskovic from Podgorica agency Multitask Nekretnine tells CdM that the average price of a studio apartment is around €250. In the less attractive parts of the city, that range is from €200 to €250, while in the more sought-after parts of the city, these prices range from around €280 up to as much as €350. An average one-room apartment is rented for around €420.
“There we have the largest range of prices from €250 to €900, depending on the location, the level of equipment of the apartment and the building in which the apartment is located. So, apartments near Capital Plaza, below Gorica, and the area around the BIG Fashion mall have a slightly higher price, and it is difficult to find a one-bedroom apartment under €500, while the more luxuriously equipped one are rented for the prices ranging from €600 to €700. A two-bedroom apartment ranges from €450 to €1,000, depending on the location and level of equipment. On average, they cost around €700”, Miskovic points out.
Miskovic notes that the current situation on the market in terms of renting apartments has reached a certain zenith and he does not expect further growth in rental prices.
He announces that, given that there are several large construction projects underway in Podgorica in several locations, covering several thousand square meters, the market is expected to calm down after their completion.
