From Q1 2013 to Q1 2014 new apartments in Montenegro went up in price by 21.7%. Price of square meter increased by €219 - to €1,227, reports ee24.com citing MonStat. When compared to the previous quarter, the cost of housing increased by 0.7%.
Demand for apartments in Montenegro, on the contrary, decreased by 34.9%, and only 168 transactions were conducted: 148 in Podgorica, and 20 in other parts of the country. Experts say that the present increase in average prices is due to the structure of demand in the first quarter of last year: more apartments were bought, and most of them (except those in Podgorica) were purchased in areas where property prices are usually low.
The most expensive apartments in Montenegro are still in Budva, where a cost of sq.m is €1,752 (by €220 less than in the previous year). Apartments in the city of Bar in early 2014 were sold for €1,212 per sq.m, in Podgorica - for €1,122 per sq.m, in other cities - for €687 per sq.m.