Montenegro: property sales increased by 29%

Montenegro: property sales increased by 29%

Sales of real estate in Montenegro has increased, while prices fell significantly in the first quarter of 2013, according to the Statistical Office of Montenegro. The number of completed projects in the market of a new real estate increased by 29% compared to the first quarter of 2012 and by 27% compared to the fourth quarter of 2012.

Along with the increase in sales volumes, new property in Montenegro fell by 16.6% compared to the first quarter of 2012 and by 13% in the quarterly ratio. Average price in the country amounted to €1,008 per sq.m.

The most expensive buildings in Montenegro in the first quarter of 2013 were located in the municipalities of Budva (€1,972 per sq.m.), Podgorica (€1,071), Bar (€1,007) and Niksic (€722).