Podgorica – in the capital city of Montenegro at this moment there is a deficit of apartments, and it is estimated that the prices of a square meter will continue to grow. The apartments are now being sold even before the foundation of a building is laid.
The best indicators of the changes on the market is the fact that the prices of a square meter in suburbia lodgments, such as in Zagoric, area around the factory Radoje Dakic and Stari aerodrom under construction are between 800 up to 1.100€. Closer to the center the square meter goes over 1.500€. The prices of apartments which are considered to be old construction also went up, so for example the apartments across Moraca are around 1.500€ per meter square.
The main reason of the growth of prices the representatives of the market of real estates see in the invasion of the buyers from the coast, who by selling the real estates to foreigners got rich, and the further growth of the prices is expected because of the announced openings of the embassies and consular missions in Montenegro.
The owner of the real estate agency Interspar, Sasa Dedeic claims that in Montenegro we have a deficit of the apartments and that “never in his carrier which has been lasting for 30 years he saw that the demand is bigger than the offer”.
– The prices have hugely gone up, and they are the consequence of the current demand and offer in Montenegro. I haven’t seen that in Slovenia where I worked for 20 years, nor in the other countries of former Yugoslavia, or in Australia or Italy – said Dedeic.
He thinks that this kind of situation is the result of two circumstances of which the less important is the factor of Government’s project of 1.000 apartments, where the cheaper apartments were bought by people less means of payments, and, the more important, entrance of the Irish, English, Scots and Russians on the Montenegrin coast.
– People from the coast have raised their prices, and the foreigners are not asking what the price of anything is, and that is how it started. There was a case that a man came from the coast who has sold to foreigners real estates for 1, 8 millions of euros. He came in Podgorica to buy for cash of 800.000€ 7 luxurious apartments, whose value goes between 70.000 and 120.000€. He has bought two luxurious apartments in Podgorica, and the rest, because of the deficit of apartments in Podgorica, he bought in Belgrade, and all 12 of the apartments are in the same building – says Dedeic.
He warned that because of the deficit of the apartments at the moment a huge amount of money goes from Montenegro to Serbia.
– Now the apartments are being sold before the foundations are laid. People should be warned to be sure from who they are buying the apartment in the building under construction, but even before the construction starts. The prices of the apartments under construction are between 1.350 to 1.500€ and there are some cases that the price of a square meter is 2.000€ – says Dedeic.
According to his words, on Stari aerodrome the price of the apartments under construction is from 900 to 1.100€, as well as on Zabjelo.
– When we are talking about old buildings in Podgorica, in that case we can apply the old saying “The frog saw horses plating…” Now the old buildings in the lodgments across Moraca, depending on the street go from 1.350 to 1.500€, with a tendency of growth. The cheapest houses are in the suburbs, because the price for them did not change – said Dedeic.
He notes that the prices of apartments in Podgorica will further grow, and the reasons, among other things are the fact that Podgorica is the capital city and that Montenegro is a small country so the real estates should be valorizes here, especially land, and in time we will be closer to EU.
– Beside that, in Montenegro 60 or 70 embassies and consular missions will come, and they have a lot of employees. They do not just have charge d’affairs, everyone has deputies, attaches.., and they have to live somewhere. They will be rented apartments or they will buy them – reminded Dedeic.
The president of the board for construction of the Chamber of the economy and the director of the firm “Gradjevinar” (CONSTRUCTOR), Milos Sukovic claims that majority of people invests their money in real estates, buying the apartments which are under construction in stead of investing that money in banks, and later they are selling them at a larger price, even 30% larger.
– Based on some records we can say that the demand of a housing space is bigger than at the moment we have here, and that has led to the growth of prices. Unfortunately, the prices went up also in the suburbs where mostly young married couples and people with more modest abilities buy apartments – said Sukovic. He especially pointed out that the banks have influenced on the large purchase of the apartments by providing favorable credits.
THERE IS STILL MORE AT ZETAGRADNJA
The owner of “Zetagradnja”, Blagota Radovic claims that this company has in apartments in offer, especially those smaller ones.
We still have the apartments for sale on the location of Stari aerodrome, and their price in the first phase of the construction is from 900 to 1.000€ per meter square – said Radovic.
He thinks that the for the price of the apartments, the price of the apartments across Moraca is not referential, stating the examples in Zagoric, the part of the town around Radoje Dakic, and on Stari aerodrome where the prices of apartments under construction go between 800 to 1.000€. Radovic said that he doesn’t expect “too big growth of prices” on the market of the real estates.