The average price per square meter of a newly constructed apartment in Montenegro during the last quarter of the previous year was 1,940 euros, according to data from Monstat.

According to the statisticians, the average price per square meter for newly built apartments in Podgorica stood at 1,940 euros, while in the coastal region it was 2,080 euros. In the central region, the average was 935 euros, and no sales of new apartments were recorded in the northern region.

The average price per square meter of a new apartment significantly hinges on the proportion of apartments categorized as social housing.

“A higher share of social housing will lead to a considerably lower average price for newly constructed apartments and vice versa,” the announcement explains.

Last year’s fourth quarter saw the average price per square meter of new apartments in Montenegro at 1,940 euros for corporate housing, while the social housing category averaged 589 euros.

Monstat clarified that the calculation of the average price per square meter for newly built apartments includes only those units sold for the first time, meaning those for which a sales contract was executed for the first time.

This research does not consider units from the older housing stock or any other property types, such as commercial buildings or land. It does not represent the market’s supply and demand for new apartments, but rather prices determined by executed sales contracts.

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