Prices for building materials began to fall at the end of last year, but the cost of apartments did not fully follow this trend. The average price per square meter of an apartment in a new building in the first quarter of this year was 1,389 euros. In Podgorica, the average price per square meter in a new building in the first quarter of this year was 1,409 euros. This is the lowest price in the last four quarters. In the northern region, the average price was 1,201 euros, which is the third quarter in a row that they have decreased. In the north, apartment prices at the end of 2021 were higher than in the second half of last year and now.
On the coast, the average price per square meter is now 1,392 euros, which is slightly higher than at the end of last year, when it was 1,387 euros. Apartment prices in the six coastal municipalities were significantly higher in the first half of 2022 – €1,445 and €1,473. Thus, it is the coastal regions that continue to show an upward trend. The demand for housing here is stimulated by the arrival of foreigners from Russia, Ukraine and Turkey.