Land Prices and Construction Costs in Montenegro
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Land Prices and Construction Costs in Montenegro
Montenegro attracts the attention of many Turkish citizens and construction companies because it grants residence rights and citizenship through real estate investment. For this reason, Turkish construction companies have started construction in Montenegro. Land prices and construction costs in Montenegro will be examined in this article.
What are the Land Prices in Montenegro?
In the land price ranking for the first half of 2021, Montenegro ranks 36th in the world index with a land price-to-income ratio of 14.36%. The country with the most expensive prices per m² in Europe is Monaco.
According to Monstat (Statistical Office of Montenegro), the cities with the highest land prices in Montenegro are Bar, Nikşic, Podgorica and Budva; the cities with the cheapest land prices are Zabljak, Taşlıca and Kolašin. In the cities with the highest land prices, the average price per m² is 1,194 Euros.
The northern regions of Montenegro are more expensive than the southern part of the country, especially due to winter tourism and the preference for mountainous areas for land purchases. The cities located on the coast of Montenegro are more expensive than the cities in the center due to tourism.
What are the Land Prices in Podgorica, Montenegro?
Podgorica, the capital of Montenegro, has high rents despite being in the south of the country. It is especially preferred by people who want to start a business. Due to the presence of administrative authorities, different workplaces and offices, land prices in Podgorica are higher than other southern cities. In the third quarter of 2021, land prices in Podgorica were an average of 1,182 Euros per m².
What are the Prices of Land for Sale in Budva?
In Budva, one of the touristic settlements of Montenegro, land prices are an average of 650 Euros per m². The coastal areas of Budva facing the Adriatic Sea are more expensive than the center, but since it is a small city, it is cheaper than other cities on the coast.
What are the Prices of Land for Sale in Kotor?
Kotor is a city built on the coast. The prices of land near the coast are higher than those in the center. The average land price in Kotor is 1,385 Euros per m².
Where to List Land for Sale in Montenegro?
Websites offering land for sale in Montenegro are listed below.
- https://www.montenegroprospects.com
- http://www.karadagdaemlak.com/en/montenegro-real-estate
- https://luxestate-montenegro.com/tr
- https://www.estateinmontenegro.com
Can I Apply for Montenegrin Citizenship by Buying Land in Montenegro?
You cannot apply for Montenegrin citizenship by purchasing land in Montenegro.
Can Foreign Nationals Buy Land in Montenegro?
Yes, foreign citizens can purchase land through real estate investment or inheritance.
Can a Construction Company Be Established in Montenegro?
Yes, a construction company can be established in Montenegro. According to 2018 data, the construction cost was measured at 669,000 Euros.
The city that receives the most investment in Montenegro is the capital Podgorica. Some European countries such as Ukraine, Slovenia and Italy are investing in Montenegro in the construction sector.
Consultancy services are provided in Montenegro to inform about investment in the construction sector of Montenegro .
How Much Does It Cost to Build in Montenegro?
According to 2018 data, the average cost of building in Montenegro was measured at 669,000 Euros. The lowest cost of building in Montenegro was 2016 with 610,000 Euros, and the highest cost of building in Montenegro was 2011 with 968,000 Euros.