90% new flats are for rent in Podgorica
More than 90 percent of the owners of apartments bought in the city of Podgorica rent their real estate rather than living in it. This has helped drive up prices by 18 percent since the beginning of the year, according to the Montenegrin stats agency Monstat. Local real estate agencies report that prices are rising the highest in the capital city but also in the country's coastal areas. They claim that most of the customers are local buyers looking to make a return on renting out their properties. There are growing numbers of foreigners investing, however, including Turks and more recently Russians, Ukrainians, and the French.