New Year Forecast from ADRIOM — Your Montenegro Real Estate Expert
As the year ends, many investors are asking: should we expect property prices in Montenegro to fall in 2026?
Our answer: No. Here’s why.
🇪🇺 Montenegro on the Doorstep of the EU
December 2025 was historic for Montenegro. At the 24th EU Accession Conference, 5 negotiating chapters were closed, bringing the total to 12 out of 33.
What does this mean for investors?
- EU Enlargement Commissioner Marta Kos called Montenegro “the frontrunner with the best results among candidates”
- Target: complete all negotiations by end of 2026
- Expected EU membership: 2027-2028
Historical data shows: countries joining the EU see property price increases of 20-40% around accession. Croatia, Poland, Slovenia — all went through this.
📊 2024 Statistics: Who’s Buying Property?
Total foreign investment in Montenegro real estate in 2024: €455 million — only 1.7% below the record-breaking 2023.
TOP 5 Investor Countries:
| Country |
Investment (Q1 2024) |
| 🇷🇸 Serbia |
€19.2M |
| 🇹🇷 Turkey |
€16M |
| 🇺🇸 USA |
€13.8M |
| 🇩🇪 Germany |
€11.5M |
| 🇷🇺 Russia |
€4.7M |
Key trend: Serbia firmly holds first place, overtaking Russia which long dominated the market. Turkish investors increased their investments by 21% year-over-year.
💰 Price Growth: Facts & Figures
New-build price growth in 2024: +21%
EU average for the same period: +3.6%
Montenegro is growing almost 6 times faster than the European average!
Current prices by region (end of 2025):
| Region |
Price per m² |
| Budva |
€2,000 — €4,200 |
| Kotor |
€2,400 — €3,800 |
| Tivat (Porto Montenegro) |
€3,500 — €14,000+ |
| Bar |
€1,100 — €2,500 |
| Podgorica |
€1,500 — €2,250 |
🏗️ New Law: 21% VAT on Construction Land
Attention developers and investors!
Montenegro plans to introduce 21% VAT on construction plot transactions. Experts estimate this will add at least €50 per square meter to new housing costs.
The draft amendments have already been submitted for public consultation.
What this means:
- Construction costs will increase
- New-build prices will continue rising
- Waiting for “cheap” property is pointless
Remember: when buying new construction, 21% VAT is already included in the price (paid by developer). Resales are subject to progressive tax of 3-5-6% (introduced January 2024).
🚫 “Russians Are Leaving — Prices Will Fall” — A Myth
Yes, Russian investor share dropped 32% in 2024. But:
- Others took their place: Turks (+21%), Americans (+11%)
- Buyers from 40+ countries: the market is more diversified than ever
- First 8 months of 2025: foreign real estate investment grew 8.4% to €308.86M
Russian capital is just part of the picture. The market has become truly international.
📈 2026 Forecast
Coastal areas (Budva, Kotor, Tivat):
Growth of 5-7% annually, premium properties higher
Inland regions (Podgorica, Nikšić):
Growth of 3-5% annually
Growth catalysts:
- Progress in EU accession negotiations
- Tourism growth: 2.6M+ tourists annually
- Infrastructure projects
- Limited coastal supply (building permits down 32%)
- New land taxes for developers
✅ Key Takeaways for Investors
| Factor |
Impact on Prices |
| EU Accession |
⬆️ +20-40% growth |
| 21% VAT on land |
⬆️ Higher construction costs |
| Supply shortage |
⬆️ Price support |
| Buyer diversification |
⬆️ Stable demand |
| Tourism growth |
⬆️ Rental potential |
The window of opportunity is narrowing. Those who buy now will benefit most from the upcoming EU membership.
🎄 Happy New Year 2026!
The ADRIOM team wishes you successful investments, smart decisions, and all your plans fulfilled in the new year!
Ready to discuss your investment goals?
📞 +382 68 752 559
📧 info@adriom.me
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