The average price per square meter of newly built apartments in Montenegro stood at €2,206 in the fourth quarter of 2025, according to preliminary data from Monstat. Although this marks a slight decline compared to the third quarter (€2,228), it remains among the highest levels recorded since statistics have been tracked.
The figures refer exclusively to apartments sold for the first time — meaning units under their initial sales contracts — and do not include older housing stock or commercial properties.
Coast Leads, Capital Close Behind
Regional differences remain significant. In Podgorica, the capital, the average price reached €2,141 per square meter, slightly below the national average. However, the coastal region continues to command the highest prices, climbing to €2,570 per square meter.
By contrast, the central region – including Nikšić, Cetinje, Danilovgrad, Tuzi and Zeta – recorded a much lower average of €1,363 per square meter. In the northern region, no new-build apartment sales were registered during the fourth quarter.
Market Structure Influences the Average
Monstat highlights the importance of distinguishing between the overall average price and market-based pricing. Apartments sold by commercial developers reached an average of €2,415 per square meter, while units built under cooperative or joint residential construction schemes averaged just €705 per square meter.
This difference shows how the sales structure significantly affects the final statistical average. A higher share of cooperative housing lowers the overall figure, while dominance by commercial market sales pushes the average upward. In the fourth quarter, market-driven sales clearly prevailed.
Strong but Uneven Market
Montenegro’s new-build housing market remains robust but highly regionally fragmented. The coast continues to set the pace; Podgorica follows, while inland and northern areas lag.
Despite the modest quarterly dip, prices for newly built apartments have entered a range that would have seemed unrealistic just three years ago. If limited supply and steady demand persist, 2026 is likely to bring a period of stabilization or consolidation – though without any sharp correction in prices.
