How global events affect the real estate market in Montenegro

We are witnessing daily changes on a global scale that shape social, political, and investment trends worldwide. Political events, wars, inflation, population migrations, and movements on international financial markets directly influence demand, prices, and investment flows in the real estate sector.
All of these factors also have a significant impact on the real estate market in Montenegro. In this article, we will briefly examine how these developments are affecting our local real estate market.

The impact of global trends on the real estate market in Montenegro

It is a fact that the Montenegrin real estate market is experiencing rapid growth and transformation, driven by increasing domestic and foreign demand. According to expert forecasts, in 2026 the likelihood of a significant drop in real estate prices in Montenegro is expected to remain low to moderate.

Buyers from Russia and Ukraine

Global developments have strongly influenced Montenegro’s real estate market in recent years. During periods of geopolitical uncertainty, demand was particularly boosted by buyers from Ukraine and Russia, which led to rising property prices, especially in Podgorica and coastal towns.

The economic crisis in Turkey and the real estate market in Montenegro

Montenegro is still considered a safe country, so it is not surprising that many Turkish citizens, due to current events in their home country, are choosing to start a new life here or launch their own business. According to the Ministry of Interior, as of 2025 there are around 13,000 Turkish nationals with temporary or permanent residence in Montenegro.
This influx of Turkish citizens further stimulates demand in the Montenegrin real estate market, particularly for residential and commercial properties. It has also contributed to higher prices for both rentals and property purchases, especially in the central and southern regions of the country.

Inflation and its impact on buyers’ purchasing power

Most property buyers in Montenegro are foreigners from more developed countries, who have significantly higher purchasing power than the local population. In the first half of 2025, the majority of properties were purchased by buyers from Serbia, followed by Turkey, the USA, and Germany, with additional buyers from Australia, Armenia, Kazakhstan, Egypt, and other countries, according to Vijesti.me.
While inflation has significantly reduced the purchasing power of local residents, foreigners view investing in Montenegrin real estate as a way to preserve their wealth. Prices remain relatively favorable compared to many European markets, so even though they may be high for domestic buyers, they represent an attractive opportunity for foreign investors.

No change in the real estate market happens overnight. It is important to note that in January, a new Law on Foreigners came into effect. The provisions of this law will directly influence the structure of foreign demand and investment dynamics in Montenegro’s real estate market. Amfora Real Estate will be there to monitor all these changes, ensuring that our clients always receive accurate, timely, and reliable information. Explore the real estate market in Montenegro with the support of an experienced partner - feel free to contact us with any questions you may have!