Property in Montenegro: the Russians occupy the coast

Property in Montenegro: the Russians occupy the coast

Russian buyers accounted to 90% of the total number of buyers on the coast of Montenegro. This is facilitated by a sharp fall in prices by 15-50% depending on the supply and fall in demand (50%) on the Montenegrin real estate, which was observed after the crisis in 2008.

The Russians have made a considerable contribution to the stabilization of the Montenegrin real estate market in recent years. Now apartments on the Adriatic coast of Montenegro (in Kotor and other cities of Kotor Bay) cost from €1,700 to €2,300 per sq.m. The cost of homes comes to €7,000-8,000 per sq.m. Urbanized areas of the coast cost from €50 to €1000 per sq.m.

Buyers from Russia prefer real estate on the coast, located in the Bar and Budva Riviera. They are attracted by the clear sea and developing infrastructure. Experts point out that in recent years agencies compete for clients from Russia, which are currently the most solvent in the resort real estate sector.