Factors influencing real estate prices in Montenegro

The purchase or rental of real estate in Montenegro depends on several key factors. Distance from the sea, developed infrastructure, the condition of the property, and the building's construction technology are all elements that shape the overall price.

Below, we will consider each of these factors so you can make profitable decisions when buying or renting properties for permanent or temporary residence.

Location assessment

The distance from the sea plays a crucial role in determining the price of real estate. Properties near the coast and popular tourist destinations such as Budva, Kotor, Tivat, Sveti Stefan, and Pržno usually have higher prices per square meter compared to less-known places. If you're willing to forego a sea view but want proximity, you can save up to 10% on purchasing an apartment. Considering these aspects is essential in making your decision.

Infrastructure

More developed infrastructure typically results in higher real estate costs. Purchasing property in smaller towns with less developed infrastructure can be a more cost-effective option if you are mobile and willing to make compromises. This also helps avoid challenges such as limited parking and crowds during the tourist season. The price of property with developed infrastructure will vary according to the additional amenities it offers, such as landscaped yards, playgrounds, and parking.

Property condition

Before deciding to purchase, be sure to inspect the rooms, utility systems, and the condition of the finishes. If you notice any defects, consider the options for repairing them, as well as the causes that led to these issues. Discuss these matters during negotiations and before signing the contract to avoid potential problems in the future.

Construction technology

The building's construction technology can also influence the price of the property. Prefabricated monolithic structures or panels are usually more budget-friendly. Brick construction, though rarely used in Montenegro, can significantly increase the price. Consider this factor when choosing a property.

Facade finish

The type of facade finish can also impact the price of the property. Facades covered with decorative brick typically increase the value of the real estate.