Kolashin has become a serious target for investment real estate: the price per square meter of an apartment ranges from 2,000 to 10,000 euros.

The current situation in the international real estate market varies by country; however, many nations are experiencing a slowdown in the market and a decline in transaction volumes. In Montenegro, there has been a decrease in the number of real estate transactions, but no significant drop in prices has been observed. Real estate agencies in Kolasin emphasize that the cost of housing in this city is currently extremely high, and they consider it one of the most significant in the region. As they mentioned in an interview with the newspaper "Pobjeda," this price increase is particularly noticeable in the new construction segment and properties located near ski resorts.

The price per square meter in newly built apartments does not drop below2000 euros...which indicates a high interest from investors in the real estate of Kolašin. Moreover, the cost per square meter in apartments at ski resorts sometimes reaches...10,000 eurosThis further emphasizes the popularity of this region among buyers. The high cost per square meter is a testament to the growing status of Kolašin as a popular ski resort; however, it also creates challenges for those looking to purchase or invest in local real estate. Interestingly, prices for properties in Kolašin even exceed those on the coast, signaling a shift in buyer preferences towards mountain resorts.

The situation in the real estate market has developed as a result of the construction of nine so-called condominiums in Kolašin for buyers with Montenegrin citizenship. Foreigners interested in obtaining our citizenship prefer Kolašin over the coast, as property prices in the north start from250,000 euros, while in the south at least is required450,000 eurosOver the past six months, sources report a traditional interest in properties in exceptional locations, as well as in real estate outside of cities."Due to the crisis, the number of buyers from the EU has significantly decreased."The market has reached a stalemate – buyers are not making purchases, and sellers are not lowering prices, comments the situation the president of the Real Estate Trading Group, Veselin Dragash, who is also the director of the Forte Mare agency.

Currently, according to him, the selection of real estate in popular locations is extremely limited, despite active new construction, as many investors are not keeping up with global and regional news."Moreover, in Montenegro, only a few projects are financed through loans."In the fourth quarter of 2023, demand was also lower compared to the same period in 2022; however, this did not have a significant impact on real estate prices, noted Dragash.

As for the forecasts, he believes that prices may still decrease somewhat, but this won't happen suddenly.“If we analyze the situation within the European Union and in regional real estate markets, we can expect a decrease in the overall volume of transactions compared to 2023.”A decrease in transaction volumes, however, will not lead to a sharp drop in prices if buyer interest significantly declines. In the long term, a gradual decrease in real estate prices can be expected, Dragash concluded.

The decrease in transaction volumes in the region and Europe has significantly impacted Serbia, where sales have dropped by30%...and in Croatia, where the rate has dropped by...20%Dragash also noted that the German real estate market is experiencing a sharp decline, with property values dropping by half compared to 2022, as the country is currently in a state of recession. Banks are becoming more cautious in approving loans for both clients and developers, which poses a threat to the construction sector.“Real estate prices are volatile, but it will take a long time for them to decrease.”Statistics show that70%The buyers of real estate on the coast, which is the most important market after the capital, are foreigners. If significant economic changes occur in their home countries, this will undoubtedly affect our real estate market as well," asserts Dragash.