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NewsMontenegro, The average price per square meter in a new building is...

Montenegro, The average price per square meter in a new building is EUR 1,319

The average price per square meter of a newly built apartment in Montenegro in the third quarter was EUR 1,319 and was 4% lower compared to the previous quarter, Monstat data show. These prices are slightly lower compared to the second quarter, when the average price per square meter was EUR 1,375.
The most expensive apartments were in Podgorica, where the average price per square meter was EUR 1,462. The north follows, where the average price per square meter in a new building was EUR 1,279, while that figure on the coast was EUR 1,079. Apartments are still the cheapest in the central region, where the average price per square meter is estimated at EUR 612.
If we compare with the previous quarter, we will notice that prices have jumped in the capital, from EUR 1,393 to EUR 1,462 per square meter. Growth was also recorded in the north, where in the last quarter apartments were 915 EUR/m 2 , while in the central region the price remained almost unchanged – in the third quarter it was 611 EUR. The drop in the monthly price of apartments in new construction occurred on the coast, from EUR 1,473 to EUR 1,079.

– The average price per square meter of an apartment in a new building depends to a significant extent on the share of apartments that belong to the category of solidary housing construction. 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 – explained Monstat.

As they stated, the average prices per square meter of an apartment in a new building are shown according to the categories of commercial companies and solidary housing construction.

– The average price per square meter of an apartment in a new building in Montenegro in the category of commercial companies, that is, the average market price per square meter was EUR 1,446, while it was EUR 600 in the category of solidary housing construction – they stated from Monstat.
The Directorate of Statistics explained that, according to the methodology of the research “Prices of apartments in new buildings”, only apartments that were sold for the first time on the market, i.e. for which a purchase contract was concluded for the first time, are taken into account in the calculation of the average price per square meter of an apartment in a new building. 
– The subject of this research is not the apartments of the old housing stock, nor other types of immovable property – business buildings, land, etc. 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 – Monstat concluded, local media reports.
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