Gross rental yields in Montenegro: Podgorica and 2 other cities

The average gross rental yield in Montenegro stands at 5.61% (Q3, 2024). Previously, in Q3, 2023 the average gross rental yield stood at 5.95%.

  Last Updated: July 04, 2024
PODGORICA - Apartments COST (€) YIELD (p.a.)
Podgorica (all locations)  
Studio €52,000 €330 7.62%
1-Bedroom €93,000 €450 5.81%
2-Bedroom €124,000 €700 6.77%
3-Bedroom €185,000 €1,000 6.49%
Podgorica avg. Rental Yields 6.67%
TIVAT - Apartments COST (€) YIELD (p.a.)
Tivat (all locations)  
1-Bedroom €220,000 €1,000 5.45%
2-Bedroom €280,000 €1,100 4.71%
Tivat avg. Rental Yields 5.08%
BUDVA - Apartments COST (€) YIELD (p.a.)
Budva (all locations)  
1-Bedroom €154,000 €700 5.45%
2-Bedroom €240,485 €1,100 5.49%
3-Bedroom €335,000 €1,200 4.30%
Budva avg. Rental Yields 5.08%
All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you´ll really earn) are typically around 1.5% to 2% lower.
Source: Global Property Guide and Indomio
Montenegro´s Historic Rental Yield Data

Research Methodology: To conduct this research, we searched for studio, 1-bedroom, 2-bedroom, 3-bedroom, and 4-bedroom apartments in the largest cities of Montenegro. We used the local real estate listing website for both buying and renting prices to determine the average gross rental yields (Monthly Rent x 12 / Purchase Price).

For instance, if the monthly rent is €500 and the purchase price is €100,000, the calculation would be: €500 (Monthly Rent) x 12 / €100,000 (Purchase Price) = 6% (Gross Rental Yield).

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