Is real estate the safest asset in Montenegro during the upcoming crisis?

C rising inflation is noticeable as your daily life changes, from rising fuel prices to rising prices of groceries and other necessities. These rising costs may cause you to reconsider all the big purchases you've been planning to make sure they're still worth it.

In recent years, the topic of rising prices for apartments and other real estate has become an increasingly frequent topic of conversation. Rising prices are no secret and the urgency to buy real estate is becoming more and more significant. To have a more accurate picture of the situation in the world, a good example is the state of the European market.

The cost of real estate in Montenegro

How many years do people need to work to save to buy an apartment in the capital of their country, allocating their entire net salary. The table shows prices for a 50 sqm apartment in the city center and average monthly income.

photo: estitor.com

photo: estitor.com taking into account the information in the table above, statistics say that if we wanted to buy a 50 sqm apartment in Montenegro, we would need to work and save for almost 12 years, just allocating our full average salary to the apartment! No wonder most citizens prefer credit agreements.

In general, the reason for this rise in price is the extraordinary increase in the cost of building materials and labor. Unforeseen situations you may not have heard of. According to the data published by Trading Economics portal, a decline in iron ore price has been noticed in the last three weeks. The price is about $117 per ton and was $142.4 for the same quantity on June 8. According to experts, this will not affect the fall in real estate prices at present as construction companies have already procured the material at higher prices, but changes can be expected in the future. Some experts predict a drop of no more than 5%, and that's only by the end of 2023.

The best time for a mortgage loan

Yes, a European bank announces interest rate rises for the first time in more than 10 years, affecting loans indexed in euros. Therefore, people are wondering if the "train" for getting favorable loans has passed. There is no right time to buy real estate - it's when you are confident you can pay off the condo in the next 10, 15, 20 years.

On the other hand, the timing of inflation is ideal so that the money invested in assets grows with the rise in property values, so many recommend taking out a loan before the interest rate rises. If you're worried about a recession, data shows that recessions last an average of 15 months. In addition, when looking for the perfect solution for your current situation, you may consider real estate as a safe solution to earn money in the future and protect your capital, and in times of inflation, good property protection deals are offered. When a home becomes paid for, you have the security of your four walls without paying high rent. The best opportunities disappear quickly if you don't find them yourself! View the latest offer and current prices for real estate in Montenegro and the region on estitor.com Over 35,000 properties from all cities in Montenegro. Find the property you want and communicate directly with the sellers of the property. For a quick search, check out:

• Flat for sale Montenegro - over 10,000 ads
• Rent apartments Montenegro - over 6,000 ads
• Land for sale Montenegro - over 3,500 ads

After opening the above pages you can narrow the search by cities, settlements, prices, area, etc. The current turbulence in the real estate market does not negatively affect the supply of real estate, on the contrary, on the portal estitor.com you can find current real estate offers in Montenegro, where every day you can find several hundred new listings.

photo: estitor.com

Looking through estitor.com, the real estate portal that has the largest offer of parameters for sale and rent of apartments in Budva and Tivtu, as well as other cities in Montenegro and the region, we come to the conclusion that the prices of apartments in Budva reach 4,100,000 euros, how much you need to spend to buy a 309 sqm apartment in one of the well-known real estate companies.

• Budva real estate for sale
• Property for sale Tivat
• Property for sale Podgorica

Because of the construction of luxury settlements, in Tivtu over the past few years this range is becoming even more impressive. This is directly related to the building of marinas and the increasing number of expensive yachts that come in every day. Because of this, the price per square meter in Tivtu at certain locations can even reach 10,000 euros per square meter. The most expensive housing in the city of Tivat costs 5,100,000 euros, or 9020 euros per square meter. However, there is also affordable housing that you can find here!