Drastic drop in apartments sales in Montenegro

Number of newly built apartments sold in Montenegro in the second quarter this year declined by 69.3 percent in comparation with the first quarter of this year.The highest average price of newly built flats observed quarter was contracted in the municipality of Bar, and has amount 1,600 euros, according to the Montenegro’s agency for statistic’s, “Monstat” .Price of newly built flats in Montenegro in the second quarter this year increased by 4.6 percent in comparation with the  first quarter of this year.In Montenegro, the average price of square feet of living space is 1260 Euro. In Bar square meter is 1600 Euro, in Budva 1574 euros , while in Niksic is 805 euros.Price of construction land in Montenegro amounted to 243 euros, in Podgorica, 120 euros, in Bar  480 euros, in Budva 372 euros, and in  Niksic 126 euros.In the second quarter of this year, Montenegro has sold 121 newly built apartment, of which most of it in Podgorica, 65, and Niksic, 38.In the first quarter of this year's average housing price in the new building amounted to 1205 euros.The total price includes the price of an apartment building, the cost of construction land and other costs.Source: Monstat/MINA Business