Montenegro Luxury Real Estate Market 2026: Asking Prices by Destination
Short answer: as of 28 September 2026, Montenegro Sotheby's International Realty lists 338 properties for sale in Montenegro. The median asking price is €810,000. Asking prices per square metre are highest in Portonovi (median €9,983/m²) and Luštica Bay (median €9,955/m²), and lowest in Bay of Kotor (€5,237/m²) and Budva Riviera (€4,984/m²). All figures are asking prices of listings on this site, not recorded sale prices.
Asking prices by destination
| Destination | Listings for sale | Median asking price | Median asking price per m² | Price range |
|---|---|---|---|---|
| Bay of Kotor | 131 | €1,100,000 | €5,237 (105 listings with floor area) | €277,000 – €6,000,000 |
| Budva Riviera | 80 | €850,000 | €4,984 (61 listings with floor area) | €230,000 – €8,900,000 |
| Porto Montenegro | 46 | €650,000 | €8,025 (31 listings with floor area) | €315,000 – €4,300,000 |
| Luštica Bay | 24 | €630,250 | €9,955 (24 listings with floor area) | €390,000 – €4,510,000 |
| Portonovi | 14 | €1,417,500 | €9,983 (12 listings with floor area) | €650,000 – €3,375,000 |
Bay of Kotor: 67 apartments and 50 villas; Budva Riviera: 40 apartments and 33 villas; Porto Montenegro: 46 apartments and 0 villas; Luštica Bay: 19 apartments and 3 villas; Portonovi: 12 apartments and 2 villas. The marina resorts are built mostly as apartments with hotel-style services, while the Bay of Kotor and the Budva Riviera offer most of the villas.
Where the market sits by price
| Asking price | Listings | Share |
|---|---|---|
| Under €500,000 | 65 | 24% |
| €500,000 – €1 million | 96 | 36% |
| €1 – 2 million | 62 | 23% |
| €2 – 5 million | 42 | 16% |
| €5 million and above | 4 | 1% |
69 of the 338 listings are offered with the price on request; they are not included in the price figures. Of all listings for sale, 188 are apartments, 120 are villas and 85 are waterfront properties.
What drives the top of the market
Niko Laković, Managing Partner of Montenegro Sotheby's International Realty, described the top of the market and the shift towards serviced resort living in an interview with The Collection:
“In Porto Montenegro, we achieved prices of up to EUR 12,000 per square meter for real estate, and in Portonovi, several One&Only villas were sold for more than EUR 10 million.”
— Niko Laković, The Collection, December 2022
“People are aware of the advantages of living by the seaside, especially in resorts, and I am quite convinced that, in the future, there will be fewer and fewer traditional buildings and more settlements and resorts with additional features.”
— Niko Laković, The Collection, December 2022
The current catalogue reflects the same pattern: the marina resorts lead on price per square metre, while the highest individual asking prices are for Villa Peninsula, Budva (€8,900,000), Villa Oasis (€6,000,000), Old Olive Villa (€5,000,000). See also: “Investors Ready to Pay up to EUR 10 Million for Luxury Villas and Historical Palaces on Montenegrin Coast” (eKapija interview with Niko Laković).
How these figures are calculated
- Source: every active listing for sale on sothebysrealty.me located in Montenegro. Sold properties, rentals (monthly prices) and listings abroad are excluded.
- Medians rather than averages, so a single trophy property does not move a whole destination.
- Price per square metre uses only listings that state both a price and a floor area; the number of such listings is shown next to each figure, and a figure is shown only when at least five listings qualify.
- Porto Montenegro, Luštica Bay and Portonovi lie on the Bay of Kotor, so a listing can be counted both under its resort and under the bay.
- The figures update with the catalogue. The same listings are available in machine-readable form at /api/market.json (which reports averages rather than medians).
Asking prices as of 28 September 2026. Asking prices are not transaction prices; for a valuation of a specific property, contact the office.
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Prepared by the Montenegro Sotheby's International Realty office in Porto Montenegro. Facts checked against the sources below on September 19, 2026. This guide is general information, not legal or tax advice.
