The residential real estate market in Montenegro in 2025 is showing steady growth due to high demand from foreign investors, limited supply, and positive economic expectations related to the country’s possible accession to the European Union in 2026.
Current market situation
According to the Tranio portal, the average price of apartments in Montenegro is around €3,800 per square meter, and houses are around €3,600 per square meter. However, prices vary significantly depending on the region and type of property.
Coastal regions
Tivat: apartment prices range from €3,500 to €5,500 per square meter, especially in areas adjacent to Porto Montenegro.
Budva: the cost per square meter in new buildings ranges from €3,000 to €4,200, and in finished properties — from €2,800 to €3,800.
Kotor: housing prices range from €2,400 to €3,800 per square meter.
Herceg Novi: the cost per square meter reaches €5,800.
Other regions
Bar: house prices average €1,300 per square meter, making this region more affordable for investors.
Podgorica: in the country’s capital, apartments start at €800 per square meter, and houses start at €1,000 per square meter.
Factors influencing price growth
High demand from foreign investors: Montenegro attracts buyers from Europe, Russia, and the Middle East thanks to its favorable tax policy and attractive geographical location.
Limited supply: The construction of new properties is not keeping pace with growing demand, especially in coastal areas, leading to a housing shortage. Economic growth and prospects for EU accession: Montenegro’s expected accession to the European Union makes the region more stable for long-term investment, which has a positive impact on the real estate market.
Forecast for 2026
Experts predict that real estate prices in Montenegro will continue to rise in 2026. In the most sought-after regions, such as Budva and Tivat, growth could reach 15%. This makes investing in Montenegrin real estate promising, especially given the limited supply and stable demand.
In 2024, Nova Poshta, the leader of express shipments in Ukraine, increased its revenue by 22% to UAH 44.77 billion, while its net profit decreased by 36.9% to UAH 2.5 billion, according to its financial results, which were confirmed by the audit company Baker Tilly Ukraine LLC and published in the SMIDA information disclosure system.
“Despite the challenges of wartime and the shelling of branches and terminals, Nova Poshta operated as usual in 2024. The number of shipments in 2024 exceeded 480 million parcels and cargoes, or +16% year-on-year. The NPS (Consumer Loyalty Index) level for 2024 for the company was 80.8%,” the report says.
It is noted that due to the strategy of increasing customer accessibility points, the number of branches, delivery points and post offices in Ukraine amounted to more than 37 thousand at the end of December 2024.
As of December 31, 2024, the ratio of own and agency branches was 1,891 and 11,317, respectively, compared to 1,847 and 9,614 as of December 31, 2023.
The average number of full-time employees of the company, including part-time employees and those on maternity leave, was 27,509 at the end of 2024 compared to 26,327 at the end of 2023.
In 2024, despite the military aggression, Nova Poshta resumed investments in innovation, launching and testing of new technologies and services, amounting to UAH 7.3 billion, the report says.
According to information on SMIDA, the consolidated income of the group of companies, which includes the parent company Nova Poshta LLC and its subsidiaries, including NovaPay, NovaPay PL, NP Digital, NOVA Digital Sp. z o.o. (Poland), Nova-Energy, Novobox, Nova Place, Nova Post Europe, subsidiaries in Lithuania, Moldova, Poland, Slovakia, Hungary, Romania, Estonia, Latvia, Czech Republic, Canada, the United Kingdom, France, Italy, Poland, Belgium, Spain, and the Netherlands, in 2024 increased by 24% to UAH 54.2 billion. Consolidated profit decreased by 10.8% to UAH 3.81 billion.
Nova Poshta’s core business remains the express delivery of documents, parcels and palletized bulky cargo. The company is the leader in express delivery in Ukraine. Its ultimate beneficial owners are Volodymyr Popereshnyuk and Viacheslav Klymov.
In 2024, Naftogaz Group received almost UAH 38 billion of net consolidated profit, which is UAH 15 billion, or 64% more than in 2023.
“All key business areas have shown growth: gas production, transportation and storage, sales and distribution, and electricity and heat sales,” the company said on Thursday.
At the same time, the group’s gross profit for 2024 increased to UAH 89.1 billion compared to UAH 48.5 billion in 2023. At the same time, the operating profit for 2024 amounted to UAH 51.1 billion, which is almost UAH 13.3 billion, or 32% more than the same indicator for the previous period.
The results of Naftogaz’s operations were confirmed by an independent international audit by KPMG.
“Amidst the war, we guarantee energy stability and at the same time strengthen the country’s financial stability. I thank every employee of the group for this result,” said Roman Chumak, CEO of Naftogaz Group.
Ukraine’s second largest mobile operator, Vodafone Ukraine (VFU), has decided to pay its shareholders an annual dividend of UAH 702 million for 2024 on its ordinary shares.
The relevant decision was made by the shareholders of VF Ukraine at the annual general meeting on April 24, 2025, the company reported on its website.
The amount of dividends per ordinary share of the company is UAH 0.90 (ninety kopecks).
The payment will be made by October 24, 2025.
In 2023, the company paid UAH 1.81 billion in dividends to Telco Solutions and Investments LLC and UAH 18.28 million to PPT Telecom Kyiv.
The company’s financial report for 2024, published in early April, stated that it would not pay dividends to shareholders in 2024.
As reported, in 2024, Vodafone Ukraine increased its revenue by 13.1% to UAH 24.44 billion, while reducing its profit by 30.1% to UAH 3.54 billion.
“Vodafone Ukraine is Ukraine’s second largest mobile operator providing 4G broadband, fixed-line and internet services. Vodafone’s investments in the period of active construction of high-speed networks in 2015-2024 reached UAH 48.5 billion. Vodafone services are used by 15.8 million customers in Ukraine. Since December 2019, Vodafone Ukraine has been part of NEQSOL Holding.
INGO Insurance Company (Kyiv) has paid out an insurance indemnity of UAH 34.4 million under the insurance contract for the industrial complex of Ukrainian Ceramic Technologies LLC, a manufacturer of building ceramic blocks, the company reports.
It is noted that a large-scale fire destroyed a significant part of the company’s production facilities in the Kyiv region. The company’s preparation, molding, drying, firing, packaging, and warehouse facilities were damaged. Process equipment was also severely damaged. According to the investigation, the fire was caused by an unauthorized person. Compensation was paid in April 2025.
“For such a large-scale insurance event – with the involvement of experts, appraisers, as well as an investigation within criminal proceedings – the settlement of a little more than a year is actually very prompt,” said Oleg Suprunyuk, Head of the Loss Adjustment Department of Aston Brokerage, who accompanied the insurance process and whose words are quoted in the press release.
It is noted that after the incident, the insurance company, together with the broker and independent experts, promptly inspected the facility, recorded the circumstances of the incident, organized a technical examination of the damaged equipment and assessed the damage. Thanks to the coordinated work of all parties, we managed to agree on the amount of compensation and ensure its payment in full.
According to the National Bank of Ukraine, INGO holds the first place in terms of insurance premiums among legal entities in the property, cargo and health insurance segments.
In 2024, the volume of premiums raised by the insurer in this area increased by 24.6% to UAH 2.4 billion, while payments to corporate clients reached UAH 1.15 billion.
INGO Insurance Company holds licenses for 18 classes of insurance and has been providing insurance services to both individuals and companies for 30 years. Its network includes 25 branches, 5 offices and 9 customer service centers operating in all regions of the country. The company is one of the largest insurance companies in Ukraine in terms of premiums, own assets and insurance claims.
Since 2017, the main shareholder is the Ukrainian business group DCH.
