Montenegro’s economy is currently one of the most vibrant and dynamic in the whole Balkan region. Formerly ‘the poorest’ of all Yugoslav republics, the economy grew constantly since country's independence in 2006 and now has a GDP per capita surpassing those of Serbia, Macedonia, Bosnia and Herzegovina. Despite being small in land size, Montenegro has an impressive natural heritage, an open approach to economy within a business-friendly environment which has attracted a number of Foreign Direct Investments such as major real estate investments in the Adriatic region. Service industries, being the main driver for the economy, have generated minimal ecological impact and have complemented Montenegro’s natural
Podgorica – the business capital
Whilst the coast remains the most interesting area for investments in real estate and tourism, it is equally apparent that the capital city of Podgorica has become a business hub hosting the foreign companies coming into the region. Although not as beautiful, or historically attractive as the rest of the country, Podgorica used its position as the administrative and academic center of the country to develop into a buzzing business center. Easily accessible by air and enjoying good road connections with both the coast and mountains, it offers a superior standard of living that is very difficult to match in other European or World capitals.
In Podgorica it is very easy to picture finishing work at five, having a quick coffee with friends and still managing to catch a flight to Europe at 6.30 p.m. – this is possible since the airport is just 15 minutes away! Imagine during the winter, finishing your work and being able to go skiing on beautiful slopes after just a 30-minute drive. This will soon be realistic as the new highway that will connect Podgorica with the closest ski resort is to be ready by mid-2020. It is also possible to simply drive to one of the secluded beaches or to a heritage-protected serene lake where you can swim, go fishing, or just enjoy a fantastic meal at some of the local restaurants.
Finding a home
Although not the most appealing when it comes to the architecture and historical buildings, Podgorica is an amazing city to live in. Being the country's capital and the business hub, Podgorica is 'alive' throughout the whole year. Cozy bars and coffee shops,exceptional restaurants, theaters, music concerts, shopping malls, indoor &outdoor gyms - there is really something for everyone.
Prices of properties in Podgorica vary depending on the neighborhood you’re looking for. The new business area located around The Capital Plaza and City kvart is considered to be the most expensive due to its vicinity to companies, universities, shops,restaurants and other facilities. The demand for this area is high which is causing prices to increase. For example, for a relatively new, nicely furnished two-bedroom apartment in City kvart you would pay a monthly rent of approx. €600 + monthly bills (electricity, water, Wi-fi, building maintenance, etc.). So, in average, €750 - €800 per month all together. A monthly rent for a one-bedroom flat in the same area is around €350.
Other areas which are located further away from the city center are considered to be more affordable.
However, keep in mind the transportation costs and time you’ll eventually have to spend in traffic (but this still can’t be compared to traffic jams you see
in large European cities). If you are planning on making Podgorica your home for a longer period of time, then buying a property is worth considering as it could be an excellent investment option. Rental potential of properties in the capital city is huge since it is the business and educational center of Montenegro and it doesn’t have the seasonality issue like the southern and northern parts of the country. Therefore, properties are in most cases rented throughout the entire year.
Visit our office in Podgorica and talk to our agents – they will help you find a
home that fits you!