A square meter by the sea for up to 8,000 euros: apartments in Montenegro like in Monaco in prestigious locations, affordable prices for everyone.

The price per square meter in the elite port of Montenegro is around 8,000 euros, and according to experts, everything is sold even before construction begins. The demand, which has not been shaken by the economic crisis, is the reason for the further expansion of this settlement, and in addition to luxury properties, buildings are also being constructed for half that amount.

Although many countries are experiencing a slowdown in the real estate market, it is believed that prices in Montenegro are still "holding steady." On the coast, the price per square meter has increased by more than 40 percent, so, for example, a studio apartment of 35 square meters averages around 250,000 euros. Coastal cities like Budva, Herceg Novi, and Tivat are among the most expensive and sought-after places to buyreal estate in this country.

The real estate agent we spoke to says for "Blic Biznis" that everything that has already been built or is still under construction in these settlements has been sold, and the demand for real estate is not decreasing despite the constant rise in prices. - The average price per square meter in an elite settlement on the coast is around 8,000 euros, and despite such a high price, everything is selling and demand is not decreasing. Currently, other, less luxurious properties are being built that will be half the price and more affordable for locals, considering that until now the most frequent buyers have been our guest workers, as well as people from the region and foreigners, - says the agent. In other less attractive areas of Montenegro and places not quite by the sea, apartments are much cheaper despite the price increases. In Podgorica, the price per square meter of an apartment ranges from 1,600 to 2,000 euros.

It is expected that current real estate prices in Montenegro will be maintained. Eurostat recently reported that property prices in Europe have decreased for the first time since 2015, mainly due to rising interest rates and inflation. In the fourth quarter of 2022, property prices on average fell by 1.5 percent compared to the previous quarter. This is also confirmed by the International Monetary Fund, which states that this trend is particularly noticeable in some European markets, citing the Czech Republic, Denmark, and Sweden as examples where home prices have dropped by 6 percent. Despite this, experts in Montenegro expect that current real estate sale prices in the country will remain at this level for the next one or two years.