Montenegro real estate market — prices, rental yield and trend
- Average price: $2,964 / m²
- 12-month price change (USD): 9.5%
- Transaction cost: 9.6%
- Bubble-risk band: elevated
- Price basis: national average
Residential property in Montenegro averages $2,964 per square metre, +9.5% in dollar terms over the last twelve months. That makes it the 45th most expensive of the 83 markets in the set.
What a buyer pays in Montenegro
The $2,964 figure is a national average across all residential property types, which flattens a wide spread — the capital typically runs far above it and small towns far below. Buying costs — transfer tax or stamp duty, notary, registration and agency — come to about 9.6% of the price here. On a 100 m² apartment at the average price that is roughly $28,455 on top of the $296,409 purchase price. That is close to the 10.2% median across the set.
What it earns
We publish a price for Montenegro but no rental yield. No public rent figure exists for this market at the same geographic level and from the same source as the price, and we do not estimate one: a yield built from two unrelated sources would describe no real property.
How the tax works. 11.87% effective: 15% income tax on 70% of the gross rent (30% standard expense allowance) gives 10.5%, plus the municipal surtax charged on the tax — 13% in most municipalities, 10% in Budva (11.55%), 15% in Podgorica and Cetinje (12.08%). If the surtax does not apply to a passive non-resident landlord the rate is 10.5%, the lower end of the band. Independent of the rent level. Source: PwC / eporezi.me.
Where the price sits against its own history
Prices are +101.4% over five years and +154.1% over ten in local terms. Glopra’s bubble-risk score for Montenegro is 76 out of 100 — elevated risk. Of the 58 markets scored, 5 read higher. It combines the deviation from trend, price-to-income and the pace of recent growth — a warning light, not a forecast. This is a simplified reading: fewer than three index components are available for this market, so treat it as indicative rather than comparable with fully scored markets.
Montenegro house price index, 2016–2026 (2016 = 100)
| Year | Index |
|---|---|
| 2016 | 100 |
| 2017 | 109.9 |
| 2018 | 111 |
| 2019 | 110.1 |
| 2020 | 94.1 |
| 2021 | 118.1 |
| 2022 | 132.4 |
| 2023 | 151.5 |
| 2024 | 182.4 |
| 2025 | 217.6 |
| 2026 | 241.8 |
Rebased to 100 in 2016, the index stands at 241.8 in 2026. The series is in local currency, and the twelve-month numbers above show how much of that a dollar buyer actually keeps.
Who can buy in Montenegro
Freehold; agricultural and forest land not permitted. That is the rule a foreign buyer meets first, not legal advice — check the current position locally before you commit.
How this figure is built
The price figure for Montenegro is built from recorded transaction prices. It was last refreshed on 2026-09-28. We rate our confidence in this market’s data medium: the series is usable, but thinner or less current than our best-covered markets. We recompute every market the same way; a figure that fails our checks is suppressed, not guessed.
Sources: Monstat via SeeNews · seenews.com · globalpropertyguide.com. Snapshot: 2026-09-28.
Latest Montenegro market analysis
- Montenegro Property Taxes and Buying Costs for Foreign Buyers (2026) — 2026-08-03
- Montenegro Property Market 2026: Prices That Doubled in Five Years — 2026-07-03
- Montenegro's Property Market in 2026: Coast, Capital, and the EU Question — 2026-07-03
- Buying Property in Montenegro as a Foreigner: Your Rights and the Purchase Process — 2026-07-03
Related markets: Montenegrin Coast (Budva / Tivat / Kotor)