According to the methodology of survey ‘Prices of dwellings in new residential buildings’, the calculation of average price per square meter of dwellings in new residential building takes only dwellings that were sold on the market for the first time, or for which a purchase contract was concluded for the first time. The subject of this survey is neither the existing (old) dwellings, nor other types of real estate: business facilities, land, and others. The survey does not reflect supply and demand of new dwellings on the market, but prices calculated on the basis of concluded sales contracts.

The average price per square meter of dwellings in new residential building in the first quarter 2023 was: in Montenegro 1 341 EUR; in Podgorica 1 407 EUR; in coastal region 1 392 EUR; in central region 611 EUR, and in northern region 1 201 EUR.

The average price of dwellings in new residential building significantly depend on the share of solidarity housing development dwellings. If the share of these dwellings is higher, the average price of dwellings in new residential building will be significantly lower, or if this share is lower, the average price will be higher.

This release shows the average price per the square meter of dwelling in new residential building according to the following categories: enterprises (average market price), and solidarity housing development. The average price per square meter of dwellings in new residential building in Montenegro, in category enterprises, in the first quarter of 2023 is 1 389 EUR, while in category solidarity housing development is 589 EUR.

Release