Montenegro Real Estate Market News
Montenegro Real Estate Market News, Long-term Use of the Euro Boosts Confidence
Montenegro invested strategically in its infrastructure and tourism sector, making them more accessible and attractive. This development increased the demand for real estate, as more tourists came to enjoy the country’s natural beauty, cultural heritage, and warm hospitality.
Infrastructure and Tourism Propel Growth
Montenegro invested strategically in its infrastructure and tourism sector, making them more accessible and attractive. As a result, the demand for real estate increased, as more tourists came to enjoy the country’s natural beauty, cultural heritage, and warm hospitality.
Montenegro Real Estate Market News, Price Surge and Sales Uptick
The Montenegrin real estate market grew robustly in 2023. According to Global Property Guide, apartment prices increased by an impressive 8.7% year-on-year, reaching an average of €1,638 per square meter. Budva, Kotor, and Tivat had the highest prices, with €2,214, €2,052, and €1,971 per square meter respectively. Moreover, sales volume increased by 12.4% year-on-year, totaling €1.2 billion. The most popular choices were apartments (54%), houses (32%), and land plots (14%).
Montenegro Real Estate Market News,Outlook for 2024: Sustained Growth Expected
The same influential factors that boosted the Montenegrin real estate market will keep it growing in 2024. Moreover, the country’s enduring use of the euro, ongoing infrastructure enhancements, and the global economic recovery will support the continued demand for real estate in Montenegro.
Strategic Investment Considerations
For prospective investors eyeing Montenegro in 2024, the focus should be on coastal regions and established tourist destinations. These areas are poised to experience the most robust demand and price appreciation. Additionally, investing in land plots presents a strategic opportunity, given the escalating demand for development space.
Connect with Montenegro Real Estate
For comprehensive assistance in navigating the Montenegro real estate market, consider reaching out to Montenegro Real Estate. Our team is dedicated to helping you find the ideal property within your specified budget, offering a range of investment services to optimize your real estate venture.
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