Odlazak stranaca uticao na korekciju cijena zakupnine stanova: kirije pale do 20 odsto

The article published by the Montenegrin daily Dan and authored by journalist Ana Ostojić examines the recent correction in rental prices across Montenegro following a substantial outflow of foreign tenants, particularly from Russia and Ukraine. It highlights how the departure of these residents has led to a 15‑20 % decline in rents in Podgorica and up to 20 % on the coastal region, while noting that overall housing costs remain high relative to local incomes.

Data from the Association of Tenants of Montenegro (UPCG) indicate that average one‑bedroom apartments in Podgorica, previously rented for around €500, are now commonly offered at €400‑€450, with some listings as low as €350. Similar trends are observed in Budva, where rents have fallen by approximately 20 %, reflecting a broader market correction after the peak demand created by foreign newcomers.

The article provides detailed price brackets for different property types: studio apartments now range from €300‑€350 in Podgorica, one‑bedroom units €350‑€550, two‑bedroom flats €550‑€800, and three‑bedroom units start at €700. In coastal towns, studios are €250‑€350, one‑bedrooms €500‑€600, and two‑bedrooms €700‑€850. Luxury houses continue to command several thousand euros per month, though they also experience modest price adjustments.

The decline in foreign demand is identified as the primary driver of lower rents. While Turkish tenants temporarily filled part of the gap, their presence was short‑lived. The market is now dominated by domestic renters, whose purchasing power is considerably lower than that of the earlier foreign occupants, contributing to the downward pressure on prices.

The article notes an increase in available rental units as previously occupied apartments re-enter the market, further intensifying competition and supporting price corrections. Despite the rent decline, a significant share of household income—up to 40 %—still goes to housing costs, indicating persistent affordability challenges for Montenegrin residents.

In the northern interior, rents are notably lower, typically €200‑€400, due to limited demand and supply. Coastal areas experience seasonal fluctuations linked to tourism, with higher rents during peak periods but an overall downward trend following the foreign exodus.

Quotes from local agents Stefan Mišković (Multitask Real Estate, Podgorica) and Mirko Vujović (Adria Stone, Budva) underscore that reduced foreign demand and increased supply are the main factors behind the rent corrections. Both stress that while prices have softened, they remain relatively high compared to local income levels.

The article contrasts the rental market with the property sales sector, which remains stable and retains price levels from the previous year. This divergence suggests that while rental affordability is under pressure, the overall real‑estate market retains resilience.

For a pan‑European audience focused on sustainable housing, the Montenegrin case illustrates how external migration flows can rapidly alter rental dynamics, affecting affordability and the viability of long‑term tenancy. The data underscore the importance of monitoring demographic trends and supply changes to inform housing policies that promote stability and sustainability.