Budva Economic Profile 2026
Key macroeconomic and demographic indicators
Population
22,000
Montenegro Statistical Office, Census 2023
Average gross salary
€1,420
▲ 2.5% YoY
Ø Jan–Feb '26
Tourist overnights Jan–Feb
~45,000
59.1% of coastal share
Budva Apartment Prices by Type — Q1 2026
Average for Q1 2026
Below are the average apartment prices in Budva by type, based on active listings on Estitor.
| Property type | Avg price/m2 | Avg total price | Annual trend | Listings |
|---|---|---|---|---|
| studios | 3,289 €/m² | 101,906 € | +10.6% | 192 |
| one-bedroom apartments | 3,418 €/m² | 166,555 € | +13.0% | 1428 |
| two-bedroom apartments | 3,395 €/m² | 279,198 € | +12.4% | 1314 |
| three-bedroom apartments | 3,179 €/m² | 409,351 € | -5.5% | 534 |
| four-bedroom apartments | 3,296 €/m² | 498,709 € | -1.4% | 56 |
Note: Average prices are calculated based on the median asking prices from active listings on the Estitor platform and do not include negotiation discounts, which average 5-10%.
Budva Property Price History
Avg price/m² trend for apartments
Avg price/m² apartments in Budva (EUR)
Quarterly Price Change Trend in Budva:
Price per m² in Budva has increased by 9.9% over the last 12 months (from 3,043 €/m² to 3,344 €/m²).
| Period | Avg price/m² | Quarterly change | YoY change |
|---|---|---|---|
| Q1 2026 | 3,344 € | +1.2% | +9.9% |
| Q4 2025 | 3,303 € | -3.0% | — |
| Q3 2025 | 3,405 € | +6.4% | — |
| Q2 2025 | 3,199 € | +5.1% | — |
| Q1 2025 | 3,043 € | — | — |
Budva Neighborhood & Location Analysis
Prices and trends by location
Budva rivijera obuhvata više atraktivnih lokacija, od istorijskog Starog Grada do popularnih plaža Bečića i Rafailovića. Svaka zona ima specifičnu dinamiku cijena i ciljnu grupu kupaca.
Bečići Rising
Per m²: 3,351 €/m²
YoY change: +10.2%
Active listings: 1165
Centar Rising
Per m²: 3,854 €/m²
YoY change: +6.9%
Active listings: 267
Petrovac Rising
Per m²: 2,809 €/m²
YoY change: +18.3%
Active listings: 228
Rafailovići Rising
Per m²: 4,216 €/m²
YoY change: +22.4%
Active listings: 194
Rozino Rising
Per m²: 3,543 €/m²
YoY change: +21.2%
Active listings: 149
Pržno Declining
Per m²: 3,209 €/m²
YoY change: -1.0%
Active listings: 144
Dubovica Declining
Per m²: 2,954 €/m²
YoY change: -4.9%
Active listings: 88
Sveti Stefan Declining
Per m²: 3,327 €/m²
YoY change: -2.8%
Active listings: 85
Lazi Rising
Per m²: 2,936 €/m²
YoY change: +23.8%
Active listings: 57
Podkošljun Rising
Per m²: 3,191 €/m²
YoY change: +23.4%
Active listings: 45
Zavala Stable
Per m²: 5,288 €/m²
YoY change: +0.5%
Active listings: 29
Velji Vinogradi Stable
Per m²: 2,919 €/m²
YoY change: +0.8%
Active listings: 28
Budva Investment Potential & Rental ROI
ROI analysis and investment opportunities
Rental yield by municipality / neighbourhood
| Municipality | Avg price/m2 | Avg rent | Avg size | Gross yield |
|---|---|---|---|---|
| Bečići | 3,351 € | 607 € | 63 m² | 3.5% |
| Centar | 3,854 € | 833 € | 66 m² | 3.9% |
| Petrovac | 2,809 € | — | 70 m² | — |
| Rafailovići | 4,216 € | 759 € | 72 m² | 3.0% |
| Rozino | 3,543 € | 599 € | 71 m² | 2.9% |
| Pržno | 3,209 € | 660 € | 76 m² | 3.2% |
Investment Example Calculation
Average apartment of 68m² in Budva — based on current market data.
Purchase price
227,392 €
68m² x 3,344 €
Annual rental income
10,608 €
gross income
Gross yield
4.7%
annually
5-year projection
317,000 €
with 5.2% annual growth
Disclaimer: These projections are based on historical trends and do not guarantee future results.
Purchase Costs in Budva
| Item | Amount | Note |
|---|---|---|
| Property transfer tax | 3% – 6% | Progressive scale for values above €150,000 |
| VAT (new build) | 21% | Already included in price; 3% transfer tax does not apply |
| Notary fees | ~€400 – €700 | Mandatory, set by notary tariff |
| Land registry fee | €50 – €200 | Administrative fees for title registration |
| Agency commission | 3% – 6% | Not fixed; paid by buyer, seller, or both |
| Legal fees | €500 – €2,000+ | Recommended for legal security |
🎯
Purchasing power and apartment prices
Can local salaries keep up with apartment prices?
Affordability Index
How far does a local salary go toward buying an apartment
Very Low
~123salaries for a 50m² apartment
🔴 A 50m² apartment costs ~123 average gross salaries. Budva is primarily an investment market.
Gross Salary Trend (€)
Quarterly overview — Budva
📎 Montenegro Statistical Office — MSP 3/2026 (Jan–Feb 2026)
Ø salary Jan–Feb '26
€1,420
Annual change
+2.5%
Average gross salary in Budva shows 2.5% annual growth (Ø Jan–Feb '26 vs. Q1 '25): Jan €1,416, Feb €1,424. Local purchasing power remains well below property prices.
Gross Salary — Budva 2026
| Period | Salary | Source |
|---|---|---|
| January '26 | €1,416 | 📎 |
| February '26 | €1,424 | 📎 |
| Q1 '26 avg | €1,420 | 📊 |
📎 Montenegro Statistical Office data · 📊 Prediction based on official data for January and February, based on historical earnings trends.
Budva Property Buying Guide
Step-by-step process for domestic and foreign buyers
Purchase Process
- 1 Property search & selection — Browse listings via agencies and platforms, analyse location and prices, schedule viewings.
- 2 Negotiation & offer — Agree on price, timeline and conditions with the seller.
- 3 Legal check (due diligence) — Verify ownership at the land registry, any liens or mortgages, building and occupancy permits, and potential legal restrictions or disputes.
- 4 Preliminary contract (optional) — Sign a preliminary contract with a deposit (typically ~10%) while final checks are completed.
- 5 Foreign buyer registration number — Foreign buyers must obtain a registration number from the Tax Authority, required for the transaction and tax obligations.
- 6 Notarisation of the purchase agreement — The contract is signed before a notary. For foreign nationals who do not speak the official language, a licensed court interpreter is legally required.
- 7 Payment & land registry — Payment is made exclusively via bank transfer, after which the notary submits the title registration request.
Required Documentation
- Identity document (ID card or passport)
- Registration number (for foreign buyers)
- Proof of address (if required)
- Proof of source of funds (required by the bank for the transaction)
- Property sheet (land registry extract)
- Building and occupancy permit (if applicable)
- Energy certificate (if available)
- Marriage certificate (if applicable, with translation)
- Power of attorney (if one party is not present)
- Court interpreter (for foreign buyers)
- Confirmation of local bank account (from which the transfer is made)
Important notes:
- Payment is made via bank transfer, with mandatory proof of source of funds in line with anti-money laundering regulations.
- Foreign buyers can freely purchase property, except for certain categories of land (e.g. agricultural land).
- The notary plays a key role in validating the transaction and initiating the registration process.
The property purchase process in Montenegro is well-defined and relatively standardised, but requires careful legal verification and compliance with banking and tax procedures, especially for foreign investors.
Budva Real Estate Forecast 2026
What to expect in the real estate market
Based on current trends, macroeconomic indicators and development plans, we expect continued moderate price growth in Budva real estate during 2026. Average asking price: <strong class="text-gray-700">3,344 €/m²</strong>, with variations by location and property type.
Key Factors Affecting the Budva Market
Tourism traffic ↑ Positive
Budva recorded ~45,000 tourist overnight stays in Jan–Feb 2026, with a 59.1% share of total coastal overnight stays — the highest visitor count on the Montenegrin coast.
MSR 3/2026 (Jan–Feb 2026)
Limited supply ↑ Positive
In premium zones (Old Town, Sveti Stefan) there are virtually no new projects, driving up prices of existing properties.
Budva Municipality Spatial Plan
EU integration ↑ Positive
Montenegro's progress toward EU membership is attracting more international investors to the Budva market.
77% of imports from EU countries (Jan 2026)
Seasonality → Neutral
Strong price seasonality — summer brings a 10-15% premium versus winter, especially in tourist zones.
Historical price trend 2023-2026
Price Projections for 2026
Starting price: 3,344 €/m² (Q1 2026, average). Projections based on historical trend and Montenegro Statistical Office indicators.
| Scenario | Expected annual growth | Avg price/m² end of 2026 | Probability |
|---|---|---|---|
| Optimistic | +8-10% | 3,645 €/m² | 25% |
| Base BASE | +5-7% | 3,545 €/m² | 55% |
| Conservative | +2-4% | 3,444 €/m² | 20% |
Disclaimer: Based on official Montenegro Statistical Office data (Monthly Statistical Review 3/2026). They do not constitute financial advice and do not guarantee future results. Actual price growth depends on global macroeconomic conditions, geopolitical situation and local regulatory changes.
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Frequently Asked Questions
Frequently asked questions about real estate in Budva
Based on analysis of 3932 active listings, the average price for an apartment in the city of Budva is 3,344 €/m².
Analyzing data from the last 3 years, property prices in the city of Budva show steady growth of 9.9% annually.
Sales velocity: A listing of an apartment stays on the market for 45-60 days before it is removed.
The average monthly rent is 632 €. The estimated average annual gross return on investment (ROI) is 3.3%, excluding property value appreciation.
Prosječna cijena stana u Budvi u februaru 2026. iznosi oko 3.500 EUR/m², dok kuće u prosjeku koštaju oko 2.800 EUR/m². Cijene variraju značajno po lokaciji — Stari Grad bilježi i do 8.000 EUR/m², dok Petrovac nudi cijene od 2.200 EUR/m².
Cijene nekretnina u Budvi bilježe stabilan rast od 7,7% na godišnjem nivou (Q1 2026). Budva je najtraženija turistička destinacija u Crnoj Gori sa 40,2% udjela u ukupnim primorskim noćenjima (feb 2026), što pokreće snažnu investicionu potražnju.
Stari Grad nudi najviši ROI za kratkoročno iznajmljivanje (8-11% godišnje) zahvaljujući premium poziciji i turističkoj atraktivnosti. Bečići i Petrovac nude odličan balans između cijene i potencijala rasta. Okolina Svetog Stefana je premium segment sa rastućim cijenama.
Da, stranci mogu kupiti nekretninu u Crnoj Gori sa istim pravima kao i državljani. Potrebno je pribaviti evidencioni broj stranca u Poreskoj upravi, koji je neophodan za realizaciju kupovine i poreske obaveze. Procedura se obično završi u roku od 30-60 dana.
Prosječan bruto prinos od najma u Budvi kreće se od 6% do 11% godišnje, zavisno od lokacije i tipa nekretnine. Budva ima najdužu turističku sezonu na crnogorskom primorju (maj-oktobar), a u Starom Gradu dnevne cijene najma dostižu 150-350 EUR u špicu sezone.
Methodology: Data in this report is based on analysis of active and sold listings on the Estitor platform, publicly available data from the Real Estate Directorate of Montenegro, and aggregated data from partner agencies. Prices represent the median asking price and may differ from final transaction prices. The report is automatically updated at the beginning of each quarter.
Last updated: Q1 2026 | Next update: July 2026
Last updated: Q1 2026 | Next update: July 2026