Property prices in Montenegro in 2023
The Bay of Kotor in Montenegro is popular among tourists for its natural beauty, historic sites and ancient cities of Kotor, Herceg Novi and Tivat. Real estate in these towns is much more expensive than the national average and a three-bedroom house costs about €300,000 – 400,000.
Meanwhile, the bulk of tourists head to the Budva Riviera where property prices in the towns of Budva, Bečići, Petrovac are similar to those in Kotor.
Bar, the largest coastal town, business hub and seaport has regular ferry connections to the Italian city of Bari. The Bar Riviera is as popular as the Budva Riviera for tourism.
Sveti Stefan is a famous resort and island favoured by international celebrities who buy prime villas and houses. It is considered the most expensive area in Montenegro with real estate valued at €3,000–6,000/sq.m.
The picturesque settlements of Dobrá Voda, Misici and Sutomore offer a quieter atmosphere and much lower prices. A nice 150 square meter house overlooking the coast might cost €150,000 – 200,000.
Ulcinj Riviera spreads from Bušat to the border with Albania and has cheaper property than the Bay of Kotor and the Budva Riviera. For instance, a stone house right on the coast starts at €230,000.
| Budva Riviera | Bar Riviera | Kotor | |
|---|---|---|---|
| Apartments (flats) | 1,700 – 3,500 | 1,400 – 3,000 | 2,000 – 3,500 |
| Luxury apartments | 3,500 – 6,000 | 1,400 – 3,000 | 3,500 – 8,000 |
| Houses, cottages | 3,000 – 8,000 | 1,200 – 3,000 | 2,500 – 3,000 |
| Villas | 3,500 – 10,000 | 2,000 – 3,500 | 4,000 – 7,000 |
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