Over time, a growing number of clients have been looking for plots on the outskirts of cities.
Real estate agent Jovana Jaramaz believes that the main reason for this trend is the rise in property prices in urban areas.
“However, suburban areas are increasingly being seen as an attractive option for foreign buyers, not only because of lower prices, but also due to greater privacy and more space,” she explains.
When it comes to the relationship between supply and demand, Jaramaz points out that the market is currently imbalanced, with demand for land plots and properties continuing to grow, while supply is not increasing fast enough to meet that demand.
“This is particularly evident in coastal areas and popular tourist destinations, where demand for land is high and often exceeds supply.”
At the same time, land prices are also on the rise, especially in attractive locations such as the coastal region and the area of Podgorica.
“Although in some cases prices have remained stable or increased more slowly, the growing interest from investors and local buyers is contributing to their continuous rise. Prices can vary depending on the type of land (urbanized or agricultural) and its proximity to key points such as beaches, infrastructure connections, and city centers,” Jaramaz noted.
Why is buying land a good idea?
“The main advantages of owning a plot of land and a house are more space, privacy, and the ability to customize the property according to your needs. Houses often offer greater flexibility for expansion or additional structures, which is not the case with apartments,” Jaramaz said.
However, this does not mean that land is sought exclusively for residential purposes. A large number of clients are also looking for plots for business activities, especially in larger cities and tourist areas, where there is a demand for space for hotels, restaurants, and other service-oriented businesses.
“The most sought-after locations for both private and commercial purposes include coastal regions such as Budva, Kotor, and Herceg Novi, as well as areas around the capital Podgorica due to developed infrastructure and easier access. In addition, locations near transport hubs and major road routes are also very popular for business activities,” she concluded.
