Kind of like Montenegrin Vračar: New apartments at 3,000 euros per square, demand is decreasing.

Title: Real estate prices on the Montenegrin coast remain stable despite a decrease in demand

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Despite the decline in demand for apartments and houses on the Montenegrin coast, property prices remain unchanged. There is a surge in property prices across the region, including the Balkans and other countries with a low standard of living. While the situation in Serbia and Croatia is still developing, Slovenia has already seen a turnaround in the real estate market. In Montenegro, changes are both present and absent at the same time. Demand for real estate in some cities, even on the coast, is decreasing, but prices remain at the same level.

There is a reported decrease in demand for coastal real estate by up to 30%, but prices remain unchanged, according to the newspaper "Pobjeda." The exception is the capital, where, according to the owner of a real estate agency, there are currently not enough available apartments to meet the growing demand. The average price of new buildings in Podgorica is 1500 euros per square meter. Prices are even higher, around 2000 euros per square meter, in the area of the large shopping center and in the Preko Morače area. It is noted that this is commercial construction, and prices vary depending on the project and quality of construction, so in the same location, you can find apartments at different prices.

The conclusion is that a slight decrease in prices is only expected by the end of 2024. As for other cities in Montenegro, it is clear that high interest rates and the perception of a global recession have led to a postponement of plans to purchase real estate abroad. In Kotor and Tivat, the minimum price for old properties is 2000 euros per square meter, while the price for new builds reaches 2800-3000 euros per square meter. On the other hand, Herceg Novi is more affordable, and apartments on the Budva Riviera are following a growth trend. Prices there start at 1900 euros for old apartments and from 2400 euros for new builds. (Telegraf Biznis).