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The prices of renting apartments in Budva are significantly different in the season and out of it. What is noticeable in the last few years is that prices are constantly increasing, and the reasons for this are numerous. A large number of real estate in Montenegro are purchased by foreigners, so over a billion euros have been invested in the Montenegrin real estate market in the last three years. In addition, it is believed that there is a mismatch between supply and demand. This has also been caused by the increase in the number of inhabitants in some municipalities. Specifically, in Budva, according to the results of the last census, the population increased by 43%, which led to a greater demand for real estate in Budva.

The price of apartments for rent in Budva is influenced by a number of factors:
o the type of apartment (studio, one-bedroom, two-bedroom, three-bedroom, etc.),
o the location,
o the size,
o the level of equipment.

Apartment rental prices are significantly higher in the season, especially in June, July and August when the season is in full swing. The average monthly rental price for an apartment in Budva is from €350 to €550 for studios, and from €850 to €1500 for three-bedroom apartments. Of course, this all depends on the factors listed above. Apartments located in the center, or in its immediate vicinity, are more expensive than those on the outskirts of the city, while the prices of new, luxuriously furnished apartments are also high.

In 2022, wealthy Ukrainians came to Budva en masse, fleeing the war. However, according to data from the Budva Tourism Organization, due to the inability to find employment and start their own businesses, a high percentage of them left in 2023. Although a large part of Ukrainian citizens left Budva, there was an influx of Turks at the same time, who continue to maintain real estate prices in Budva.

Budva has many apartments for short-term rental, which are intended primarily for tourists. These are apartments that are often rented out by the day and are popular during the tourist season. At the same time, this leads to a reduced supply of apartments for long-term rental, so their prices are higher. After the season, prices drop by 30% to 50%. The drop in prices of apartments for rent in Budva comes as a result of their greater supply outside the season, and different prices are formed accordingly. This is especially important for the local population, for whom current prices on the real estate market in Montenegro significantly exceed their incomes.

To find a real estate in Budva that meets your criteria and budget, it is important to have a partner who will accurately and reliably inform you about everything you need. Therefore, Amfora real estate is the agency you should contact, and we will find a property that will meet your expectations! If you are looking for a real estate in Montenegro, contact us without delay!