Real estate in Podgorica: options, prices and advantages
The capital of Montenegro is quite attractive for foreigners who want to buy property. In just 8 years, the number of foreign citizens who have bought properties in Podgorica increased by 45%.
What you should know about Podgorica?
Located 30 km from the Adriatic coast, Podgorica is not only the main political and economic center of the country but also the largest city with about a quarter of the Montenegro population. The progressing city is constantly developing and constructing both with residential and office complexes. At the same time, the capital has a well-established infrastructure: large shopping centers, coffee shops, restaurants, universities, schools, hospitals and banks.
How much do property in Podgorica cost?
Apartment prices in Podgorica vary greatly. The cheapest 35 sq. m one-room flat costs €45,000, while the most expensive penthouse is about €1 million. However, real estate in Podgorica is significantly cheaper than in Budva and other popular resort cities, where a same-size studio apartment price starts from €50,000-55,000. An average price of one-bedroom apartments of standard layout in the capital is €110,000-130,000, and two-bedroom apartments sum up to €140,000-170,000. House prices vary from €60,000-80,000 to €500,000.
What are the advantages of buying property in Podgorica?
Primarily, businessmen and those who plan to work in Montenegro are advised to buy housing here, as the capital is home to offices of the largest local and foreign companies. Nevertheless, apartments in Podgorica are also of interest to investors, due to the future increase in property costs. It is worth noticing other benefits, such as:
- a wide choice of recently constructed to modern standards homes, apartments and villas;
- high liquidity. If necessary, it will be easy to sell a property;
- long-term rental possibility.