According to the Central Bank of Montenegro (CBCG), the total debt of citizens for housing loans is approximately 600 million euros.

Bankers have informed the RTCG portal that the expansion of housing loans last year was facilitated by salaries and slightly reduced interest rates. Conversely, real estate prices reached record lows during the same period, as reported by Mina.

It has been announced by the CBM that as of the end of November last year, the overall debt of citizens to banks reached a historic high of around 1.9 billion euros, with housing loans being the third largest category.

“Housing loans account for a significant portion of dedicated loans, representing 33.5 percent of all approved loans,” stated the CBCG.

Despite being heavily indebted, citizens continue to pursue new loans, particularly for purchasing apartments. Leading banks in the Montenegrin market report that interest in housing loans not only persists but was at an all-time high last year.

The average net salary reported in November last year was 993 euros.

Bank offers indicate that for a loan of 100,000 euros over a 20-year period, the monthly installment is approximately 700 euros, while for a loan of 60,000 euros with the same repayment period, the installment amounts to about 400 euros. Additionally, banks provide benefits for young singles and couples, along with extended repayment periods of up to 25 years, which reduces the monthly installment amount.