The average price of a square meter of a newly built apartment in Montenegro in the fourth quarter of last year was €1,940, according to data from the Statistical Office of Montenegro (Monstat).
Statisticians reported that the average price per square meter of a new apartment in Podgorica was €1,940, €2,080 in the coastal region, €935 in the central region, while no sales of new apartments were recorded in the northern region.
The average price of a square meter of a new apartment is significantly influenced by the proportion of apartments that belong to the category of social housing.
“If the proportion of these apartments is higher, the average price of new apartments will be significantly lower, and if the proportion is smaller, the average price will be higher,” the statement said.
In the fourth quarter of last year, the average price of a square meter of a new apartment in the enterprise category was €1,940, while in the social housing category it was €589.
Monstat explained that the calculation of the average price per square meter only includes apartments that have been sold for the first time on the market, or for which the first sales contract was concluded.
The survey does not include apartments from the old housing stock, nor other types of real estate such as commercial properties, land, or others. This research does not reflect the supply and demand for new apartments on the market, but rather the prices based on concluded sales contracts.
