Budva Economic Profile 2026
Key macroeconomic and demographic indicators
Population
22,000
Montenegro Statistical Office, Census 2023
Average gross salary
€1,162
▼ 8.2% YoY
Ø Q2 '26 (Jun est.)
Tourist overnights Q2 '26
663,999
55.0% of coastal share
Budva Apartment Prices by Type — Q2 2026
Average for Q2 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 | 3,413 €/m² | 110,128 € | +14.0% | 239 |
| one-bedroom apartments | 3,275 €/m² | 164,266 € | +3.9% | 1,513 |
| two-bedroom apartments | 3,373 €/m² | 289,430 € | +5.8% | 1,455 |
| three-bedroom apartments | 3,218 €/m² | 475,323 € | -3.9% | 570 |
| four-bedroom apartments | 2,712 €/m² | 535,204 € | -15.3% | 64 |
📎 Listings = ads included in the average-price calculation; the sum may differ from total active listings.
Note: Average prices are calculated based on the prices of 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 3.4% over the last 12 months (from 3,199 €/m² to 3,309 €/m²).
| Period | Avg price/m² | Quarterly change | YoY change |
|---|---|---|---|
| Q2 2026 | 3,309 € | -1.0% | +3.4% |
| 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 Stable
Per m²: 3,242 €/m²
YoY change: +3.6%
Active listings: 1167
Centar Declining
Per m²: 3,436 €/m²
YoY change: -14.4%
Active listings: 325
Rafailovići Rising
Per m²: 4,393 €/m²
YoY change: +14.8%
Active listings: 209
Petrovac Stable
Per m²: 2,660 €/m²
YoY change: +4.1%
Active listings: 199
Rozino Rising
Per m²: 3,503 €/m²
YoY change: +12.7%
Active listings: 155
Pržno Declining
Per m²: 3,342 €/m²
YoY change: -1.1%
Active listings: 143
Dubovica Stable
Per m²: 3,237 €/m²
YoY change: +3.0%
Active listings: 118
Lazi Rising
Per m²: 2,987 €/m²
YoY change: +22.6%
Active listings: 90
Sveti Stefan Declining
Per m²: 3,370 €/m²
YoY change: -15.2%
Active listings: 76
Podkošljun Rising
Per m²: 2,979 €/m²
YoY change: +17.5%
Active listings: 55
Dukley Gardens —
Per m²: 6,715 €/m²
YoY change: —
Active listings: 50
Reževići Rising
Per m²: 5,100 €/m²
YoY change: +22.3%
Active listings: 35
📎 Listings = ads included in the average-price calculation; the sum may differ from total active listings.
Budva Investment Potential & Rental ROI
ROI analysis and investment opportunities
Rental yield by municipality / neighbourhood
| Municipality | Avg price/m2 | Avg rent/m² | Avg size | Gross yield |
|---|---|---|---|---|
| Bečići | 3,242 € | 15 € | 60 m² | 5.6% |
| Centar | 3,436 € | 16 € | 73 m² | 5.6% |
| Rafailovići | 4,393 € | 20 € | 69 m² | 5.5% |
| Petrovac | 2,660 € | 10 € | 83 m² | 4.5% |
| Rozino | 3,503 € | 13 € | 64 m² | 4.5% |
| Pržno | 3,342 € | 15 € | 77 m² | 5.4% |
| Dubovica | 3,237 € | 11 € | 59 m² | 4.1% |
| Lazi | 2,987 € | 11 € | 52 m² | 4.4% |
| Podkošljun | 2,979 € | 12 € | 60 m² | 4.8% |
| Dukley Gardens | 6,715 € | 27 € | 248 m² | 4.8% |
Investment Example Calculation
Average apartment of 70m² in Budva — based on current market data.
Purchase price
231,630 €
70m² x 3,309 €
Annual rental income
11,760 €
gross income
Gross yield
5.1%
annually
5-year projection
277,772 €
with 3.7% 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
~199salaries for a 70m² apartment
🔴 A coastal investment market — prices significantly exceed local purchasing power.
Gross Salary Trend (€)
Quarterly overview — Budva
📎 Montenegro Statistical Office — MSP 6/2026 (Apr–May 2026)
Ø salary Q2 '26
€1,162
Annual change
-8.2%
Average gross salary (Budva) is €1,162 (Ø Q2 '26), an 8.2% decline (Apr+May vs 2025). April: €1,201, May: €1,205, June (est.): €1,081.
Gross Salary — Budva 2026
| Period | Salary | Source |
|---|---|---|
| April '26 | €1,201 | 📎 |
| May '26 | €1,205 | 📎 |
| June '26 * | €1,081 | est. |
| Q2 '26 avg | €1,162 | 📊 |
📎 Montenegro Statistical Office data. Q2 Ø = Apr & May actual + Jun estimate (Jun '25 × Apr+May YoY).
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 moderate price growth in Budva real estate during 2026. Average asking price: <strong class="text-gray-700">3,309 €/m²</strong>, with variations by location and property type.
Key Factors Affecting the Budva Market — Backed by Data
Coastal tourism leader ↑ Positive
Budva leads with 663,999 coastal overnight stays (55.0% share, Q2 '26, June estimated) — by far the highest visitor count on the Montenegrin coast.
MSR 6/2026
Strong short-term rental ↑ Positive
The longest tourist season (May–October) and high daily rates make Budva the strongest short-term rental market on the coast.
Coastal seasonal pattern
Limited premium supply ↑ Positive
In premium zones (Old Town, Sveti Stefan, Rafailovići) there are virtually no new projects, driving up prices of existing properties.
Budva Municipality Spatial Plan
Seasonality & salaries → Neutral
Average gross salary €1,162 (-8.2% YoY) with strong seasonality — prices and yields largely depend on the summer peak.
MSR 6/2026
Price Projections for 2026
Starting price: 3,309 €/m² (Q2 2026, average). Projections based on historical trend and Montenegro Statistical Office indicators.
| Scenario | Expected annual growth | Avg price/m² end of 2026 | Probability |
|---|---|---|---|
| Optimistic | +7-9% | 3,574 €/m² | 25% |
| Base BASE | +2-4% | 3,408 €/m² | 55% |
| Conservative | +0-1% | 3,326 €/m² | 20% |
Disclaimer: Based on official Montenegro Statistical Office data (Monthly Statistical Review 6/2026). 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.
❓
Frequently Asked Questions
Frequently asked questions about real estate in Budva
Based on analysis of 4129 active listings, the average price for an apartment in the city of Budva is 3,309 €/m².
Analyzing current market data, property prices in the city of Budva show steady growth of 3.4% 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 980 €. The estimated average annual gross return on investment (ROI) is 5.1%, excluding property value appreciation.
According to Estitor data for Q2 2026 (incl. June est.), the average apartment price in Budva is about 3,309 €/m². Prices vary by location — Dukley Gardens records the highest prices (~6,715 €/m²), while Petrovac offers more affordable options (~2,660 €/m²).
Prices in Budva remain the highest on the Montenegrin coast and keep an upward trend through 2026. Budva clearly leads in tourist traffic — 55.0% of all coastal overnight stays (Q2 '26, June estimated) — which sustains strong investment demand.
The highest gross rental yield is currently recorded in Centar (~5.6%), based on the displayed rental data. A detailed yield-by-neighborhood breakdown is shown in the rental-yield table above.
Yes, foreigners can buy property in Montenegro with the same rights as citizens. A foreigner's registration number from the Tax Administration is required for the purchase and tax obligations. The procedure usually takes 30-60 days.
The average gross rental yield in Budva is approximately 5.1% per year, based on the ratio of average rent to sale price (see the rental-yield table above). Budva has the longest tourist season on the Montenegrin coast (May–October), which supports short-term rental.
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 asking prices from active listings and may differ from final transaction prices. The report is automatically updated at the beginning of each quarter.
Last updated: Q2 2026 | Next update: October 2026
Last updated: Q2 2026 | Next update: October 2026