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We are witnessing a sudden rise in real estate prices, both in Montenegro and in the region, especially after the outbreak of the war in Ukraine. The prices of square meters have increased in new buildings, but also in old buildings, depending on the location and other specific factors. Read below whether prices will continue to rise or fall in 2025.

What awaits us in 2025 on the real estate market

Many experts and real estate appraisers state that prices will remain at the same level, as well as that there will occasionally be small increases, which will be greatly influenced by inflation. Given that the prices of building materials are also on the rise, it is difficult to expect that prices will drop in the near future. The positive thing is that the real estate market is expected to stabilize in 2025 and that there will be no drastic jump in prices.

Old construction and new construction – which will be more affordable?

Real estate prices in new buildings are still higher than prices in old buildings, although this also depends on several factors. When it comes to new construction, only apartments that are sold on the market for the first time are included in the calculation of the price per square meter. According to Monstat data, the average price per square meter of new construction in Montenegro for the previous year was €1,936.00. You can read the entire report on the prices of apartments in new construction here: https://monstat.org/uploads/files/gradjevinarstvo/Cijene%20stanova%20u%20novogradnji/2024/1/Cijene%20stanova%20u%20novogradnji_I_kvartal_2024.pdf. 
On the other hand, the price of a square meter in an old building is influenced by the following factors: the location where the property is located, the age and the quality of the construction itself. Although prices in old buildings have also increased, they are still a more affordable option than new buildings. You can read more information about the advantages and disadvantages of old construction and new construction in our blog.

Real estate price trends in Montenegro in 2025

According to the Monstat report, the price of a square meter apartment in Montenegro increased by €207.00 in the third quarter of 2024, compared to the same period in 2023. For more details on the rise in real estate prices in Montenegro by city, read the link: https://rtnk.me/ekonomija/cijene-stanova-u-crnoj-gori-rastu-tri-puta-vise-nego-u-eu/. 
Please note that the data from Monstat refers to the average prices of apartments in new construction. So, the conclusion is that the market is stabilizing, but that a significant drop in prices cannot be expected due to short-term events, but a longer period of time is needed for larger price fluctuations to occur on the real estate market.
The vice-president of the Assembly of the Association of Real Estate Agencies (UANCG), Snežana Vlaović, in a statement for the RTCG portal, referred to the positive growth trend of the real estate market in Montenegro despite inflation and increased interest rates. She states that there has been a significant increase in employment and wages thanks to various government programs, which has led to an increase in demand for real estate.
The real estate market is dynamic and subject to cyclical changes, but what does not change is the quality of services that the Amfora real estate agency provides to all its clients. We are here to monitor all developments on the real estate market, inform you, and enable you to find your ideal property in the simplest possible way.

Contact us and find out how we can help you when buying, selling or renting real estate in Montenegro.