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NewsMontenegro, The average market price of a square meter apartment last year...

Montenegro, The average market price of a square meter apartment last year increased by 15% compared to 2021.

The average market price of a square meter apartment in a new building last year was EUR 1,402 and increased by 15% compared to 2021, according to Monstat data. If we talk about the average price per square meter, it was EUR 1,339, which is 12% more than the year before.

As announced by Monstat, in 2022 the most expensive apartments were in Podgorica, where a square meter cost EUR 1,383. Compared to 2021, the square footage of an apartment in the capital has increased by as much as 14%.

The average price of a square meter in a new building on the coast was EUR 1,315, and in the north it was EUR 1,025. The cheapest apartments are still in the central region, where the average price per square meter was EUR 647. Monstat stated that the average price per square meter of an apartment in a new building depends to a significant extent on the number of apartments that belong to the category of solidary housing construction.

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– If the share of these apartments is higher, the average price of an apartment in a new building will be significantly lower, that is, if the share is less, the average price will be higher – they explained.

According to their data, as we have already mentioned, the average market price per square meter, that is, the price in the category of commercial companies, was EUR 1,402. A square meter in joint construction cost EUR 598.

– According to the methodology of the research of the price of apartments in new buildings, in the calculation of the average price per square meter of an apartment in new buildings, only apartments that were sold for the first time on the market, i.e. for which a sales contract was concluded for the first time, are taken into account. The object of observation of this research is not apartments of the old housing stock, nor other types of immovable property: business buildings, land and others – Monstat explained.

Also, as they added, the research does not reflect the supply and demand of new apartments on the market, but prices calculated on the basis of concluded sales contracts.

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