Montenegro, The average price per square meter of an apartment was about five percent higher compared to earlier

Published on 21. February 2023., News

The average price per square meter of an apartment in a new building in Montenegro in the fourth quarter of last year was 1,399 euros and was about five percent higher compared to the previous quarter, according to Monstat’s preliminary data.

The most expensive apartments In new construction were in Podgorica, where the price per square meter reached EUR 1,477.

– The price per square meter in the coastal region was EUR 1,387, and in the central part of the country EUR 673. One square meter of an apartment in the north cost EUR 1,268 in the fourth quarter – they stated from Monstat.

The announcement states that the average price per square meter of an apartment in a new building depends to a significant extent on the participation 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 – they clarified.

Monstat also adds that the announcement shows the average prices per square meter of apartments in new buildings according to the categories of companies, that is, the average market price and solidary housing construction.

– The average market price per square meter of an apartment in a new building was 1,409 euros, while it was 589 euros in the category of solidary housing construction – concludes Monstat.

According to the research methodology “Prices of apartments in new construction”, only apartments that were first sold on the market, i.e. for which a sales 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 new construction.

– The object of observation of this research is not the apartments of the old housing stock, nor other types of immovable property: commercial buildings, land and others. The survey does not reflect the supply and demand of new apartments on the market, but prices calculated on the basis of concluded sales contracts – the statement of the Directorate of Statistics states.