Montenegro’s real estate market was stable before the onset of the coronavirus epidemic, with rising buyer interest and slight rises in prices. But sales have been hit by measures restricting movement between cities, by hesitant buyers and by the drying up of the foreign buyer market. Milovan Novakovic, head of Colliers International in the country, said that while his office is constantly monitoring the the market, it’s still too early to make predictions about what the pandemic’s impact will be. So far, the country has simply slowed down but if the economic crisis continues to deepen, serious drops in demand, turnover and in prices can be expected. Not that there was much life left in the country’s real estate boom. Colliers’ residential report for 2019, which came out just before the crisis hit, showed that prices hadn’t even risen 1 percent since 2018.
