Research
Montenegro real estate market snapshot
What is on offer, where, and at what asking price — with the methodology, the sample size, and what was left out of it.
This is a snapshot of the current offer of the agency nekretnina.me (LUXURY HOMES d.o.o.) on the date shown with each table — not statistics for the Montenegrin market. Every price is an asking price taken from the listing; no achieved sale price is known to us. Listings priced “on request” are counted separately and never enter a median.
LUXURY HOMES d.o.o. ·
What this snapshot is, and what it is not
This is one agency's offer. We cannot see what sells outside our books, we have no access to the register of concluded contracts, and we do not know what share of total turnover this offer represents. That is why the word “market” appears in none of the conclusions below.
What this dataset is: 599 listings migrated from the source, checked line by line across seven rounds of audit, and for which we can show where every field comes from. It is a narrower set, but a verifiable one — and verifiability is the only thing that separates a figure from an estimate.
The snapshot has no time axis. Listings in our data carry no reliable publication date, so there is no claim about price movement over time. This document describes a single day and nothing beyond it.
Active offer by city
Listing count, how many carry a numeric price, the median of that price, and the median price per square metre. A city only enters the median column at twenty listings in the sample; below that it shows a dash.
- Cut-off date:
- Sample size:
- 437
| City | Listings | With a known price | Median asking price | Median €/m² |
|---|---|---|---|---|
| Budva | 140 | 117 | €550,000 | €4,342/m² |
| Tivat | 129 | 106 | €632,750 | €7,040/m² |
| Kotor | 72 | 64 | €665,000 | €4,467/m² |
| Herceg Novi | 47 | 36 | €1,045,000 | €5,335/m² |
| Bar | 18 | 14 | — | — |
| Podgorica | 16 | 12 | — | — |
| Kolašin | 9 | 7 | — | — |
| Ulcinj | 4 | 4 | — | — |
| Žabljak | 1 | 1 | — | — |
“—” means the sample is under 20 listings, so a median would describe a handful of listings rather than the city or type.
Tivat and Budva carry most of the offer, but not in the same way: Budva has more listings across a wider range, while Tivat has the highest median price per square metre, driven by two large developments.
Offer by property type
Apartments, villas, houses, land and hotels are counted separately. Villa and house are not merged — they are two different offers for two different buyers.
- Cut-off date:
- Sample size:
- 437
| Property type | Listings | With a known price | Median asking price |
|---|---|---|---|
| Apartments | 253 | 224 | €454,500 |
| Villas | 116 | 85 | €1,300,000 |
| Houses | 42 | 33 | €750,000 |
| Land | 16 | 12 | — |
| Hotels | 9 | 7 | — |
“—” means the sample is under 20 listings, so a median would describe a handful of listings rather than the city or type.
Apartments are the most numerous, but the median villa price is several times higher, so one type carries the listing count and another carries the value of the offer.
Known prices versus “on request”
A listing without a numeric price is not a listing with a low price. It is counted separately here and never enters a median as zero — that would drag every median down and make it unusable.
- Cut-off date:
- Sample size:
- 437
| City | Listings | On request | Share |
|---|---|---|---|
| Budva | 140 | 23 | 16.4% |
| Tivat | 129 | 23 | 17.8% |
| Kotor | 72 | 8 | 11.1% |
| Herceg Novi | 47 | 11 | 23.4% |
| Bar | 18 | 4 | 22.2% |
| Podgorica | 16 | 4 | 25% |
| Kolašin | 9 | 2 | 22.2% |
| Ulcinj | 4 | 0 | 0% |
| Žabljak | 1 | 0 | 0% |
The share priced on request is uneven across cities, so a median should be read together with the number of listings that went into it.
Sale versus rent
Sale prices and monthly rents are never mixed in the same figure. €1,200 per month and €1,200 in total are not the same quantity, so they do not share a table.
- for sale
- 437
- for rent
- 28
The luxury segment under the documented classification
A listing enters the luxury segment under a published rule, not because its description uses the word “luxury”. At least two independent confirmed signals are required, plus a price at or above the median of its own city.
- Cut-off date:
- Sample size:
- 455
- Luxury real estate in Montenegro
- 139
- Carry the adjective, no confirmed signal
- 153
The number of listings carrying the adjective “luxury” with no confirmed signal at all is larger than the number actually in the segment — which is exactly why the adjective does not count.
Sea view, first line and waterfront — three separate categories
These are three different claims and they are not added together here. “Sea view” means the sea is visible; “first line” is a claim about standing on the shore itself; “waterfront” is a derived label covering first line, direct sea access, a pier and a boat berth. A view and mere proximity do not enter it.
- Cut-off date:
- Sample size:
- 455
| Category | Listings | Share |
|---|---|---|
| Sea view | 334 | 73.4% |
| Stated distance to the sea | 43 | 9.5% |
| Walking distance | 36 | 7.9% |
| First line to the sea | 67 | 14.7% |
| Direct sea access | 20 | 4.4% |
| Pier or boat berth | 32 | 7% |
| Waterfront (derived) | 83 | 18.2% |
The gap between the number of listings with a view and the number with a confirmed position on the shore is the single largest gap in this snapshot — and the most common source of buyer confusion.
Developments with an active offer
Listing count per development, with a median where the sample allows one. A development with fewer than twenty listings shows a dash instead of a median.
- Cut-off date:
- Sample size:
- 437
| Development | Listings | With a known price | Median asking price |
|---|---|---|---|
| Porto Montenegro | 40 | 27 | €752,782 |
| Luštica Bay | 28 | 26 | €630,250 |
| Portonovi | 10 | 9 | — |
| Capital Plaza | 4 | 4 | — |
| Tre Canne | 3 | 3 | — |
| Old Bakery | 2 | 1 | — |
| Royal Gardens | 1 | 1 | — |
| K16 Resort | 1 | 0 | — |
“—” means the sample is under 20 listings, so a median would describe a handful of listings rather than the city or type.
Inclusion criteria
- oglas je objavljen (izvor mu navodi vrstu posla)
- status je „dostupno“ na dan presjeka
- za cjenovne metrike: cijena je brojčana, ne „Na upit“
- za €/m²: potvrđene su i cijena i površina objekta; zemljište je isključeno
- prodaja i izdavanje se broje odvojeno i nikad ne ulaze u istu medijanu
Excluded records
| unpublished — the source does not state the deal type | 77 |
|---|---|
| sold — they keep their page but are not active offer | 67 |
| rentals — outside the sale price tables | 28 |
| “on request” — outside every price median | 76 |
| land — outside €/m², as the price refers to the plot | 16 |
| no confirmed floor area — outside €/m² | 3 |
Methodology
- izvor: src/lib/listings.json, izvučen sa nekretnina.me i provjeren u BATCH-u 4–7
- aktivna ponuda = objavljen oglas sa statusom „dostupno“
- klasifikacija mora i luksuza: audit/seo-final/classify.mjs, dokaz po oglasu u dva CSV-a
- medijana, ne prosjek — jedan hotel od 6.000.000 € pomjera prosjek, medijanu ne
Limitations
- uzorak je ponuda jedne agencije na dan presjeka, ne tržište Crne Gore
- sve cijene su TRAŽENE cijene iz oglasa; nijedna postignuta cijena nam nije poznata
- oglasi „Na upit“ se broje odvojeno i ne ulaze ni u jednu medijanu
- €/m² se računa samo gdje su potvrđene i cijena i površina; zemljište je isključeno jer mu se cijena odnosi na parcelu
- grad ili tip ulazi u tabelu medijana tek sa 20 oglasa u uzorku
- oglasi nemaju pouzdan datum objave u našim podacima, pa nema nijedne tvrdnje o kretanju kroz vrijeme
Frequently asked questions
Do these figures describe the Montenegrin property market?
No. They describe the current offer of the agency nekretnina.me on the cut-off date. We have no visibility into transactions outside our books and no access to the register of concluded contracts, so nothing here claims a market share or a national average.
Are these asking prices or achieved prices?
Asking prices, taken from the listings. No achieved sale price is known to us, so the gap between asking and achieved price is not estimated here.
Why do some cities have no median?
Because they hold fewer than twenty listings in the sample. With a smaller sample a median describes a handful of listings while the reader takes it as a statement about the city. A dash is more honest than a number that does not mean what it appears to mean.
Why the median rather than the average?
Because a few extremely expensive listings move an average and do not move a median. In an offer running from ninety thousand to six million euro, the average would describe the range rather than a typical listing.
Published by
nekretnina.me — the portal of LUXURY HOMES d.o.o., Budva. The data and text on this page are prepared and checked by the agency editorial team.
Last reviewed: · an expert reviewer has not yet been confirmed