Elections affect the real estate market in Podgorica, Montenegro

Elections affect the real estate market in Podgorica, Montenegro

Supply exceeds demand on the real estate market in Podgorica, the capital of Montenegro, and the apartments are becoming more affordable for buyers, because prices are falling, according to the portal Montenegro today.

Some analysts believe that the lull in the property market in Podgorica, where since the beginning of 2013 significantly decreased the number of housing transactions, is caused by the elections. Others say that the apartment is still unreasonably high, despite the discounts.

1 m2 of luxury real estate in Podgorica costs €2,000 and above. Apartments for the middle class are from €1,100 to €1,300 per 1 m2. The cheapest apartments, which are often needed of repair, vary from €900 to €1,000 per 1 m2, but it’s not easy to find such options.