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How much do properties in Montenegro really cost - Price register and mass valuation system are being prepared

Source: eKapija

Wednesday, 14.10.2026.

22:27

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The Real Estate Administration plans to establish a register of prices of real estate traded in the period until 2030 and a system of mass evaluation of their value, which should bring more systematic monitoring of the market, more available data on realized prices and a more standardized way of determining property values. 5.815 million EUR is planned for the establishment of the mass assessment system, while another EUR 422,250 is planned for the Register of Real Estate Prices.

According to the Real Estate Administration`s Work Program for the period 2026-2030, Montenegro currently does not have an established system of mass assessment of real estate values, nor a register that would enable continuous monitoring of market values. Valuations are now done individually and for specific needs, including in expropriation procedures.

The Administration assesses that the introduction of mass assessment would represent an important step in the modernization of land administration, with a higher level of market transparency, fairer taxation and more efficient asset management.

Mass assessment through multiple phases

It is planned to prepare amendments to the Law on the State Survey and Real Estate Cadastre in 2026, which would precisely define the mass valuation procedure.

The program envisages the creation of a national methodological framework based on international standards, the definition of real estate types, criteria, models and assessment parameters.

A special part of the project refers to the collection and preparation of data, which is marked in the document as the most extensive and financially demanding phase. Data from cadastral records, market data on sales, rent and construction costs, spatial and urban data, as well as field data on the condition of buildings, quality of construction and purpose will be used.

- About 618,000 plots are currently registered on the territory of Montenegro, while the total land area is about 13,000 km² - the document states.

It is also planned to implement pilot projects in selected municipalities, in order to test the methodology and IT solutions, after which the model would be adjusted before being implemented at the level of the entire country.

- At the same time, the Register of Real Estate Values would be developed as part of the unique information system of the Real Estate Administration, while enabling access to data for state bodies, local self-governments and the public, in accordance with the law - it was indicated.

According to the plan, after the pilot phase the system would be implemented at the level of the whole country, with regular updating of data and models in accordance with market trends.

For the realization of the project of mass assessment in the period 2026-2030. a total of EUR 5.815 million is foreseen. The largest item refers to the preparation of data - one million euros in 2026, 1.5 million in 2027 and 2028, and 500,000 euros in 2029 and 2030.

Register of actual real estate prices

Another project directly important for the real estate market is the Register/Record of the prices of real estate traded.

- The goal is to establish a centralized database that will enable systematic monitoring and analysis of real estate prices, as well as the availability of data on real estate, rights to them, spatial components, realized prices and other characteristics of real estate for a certain period - it was clarified.

The document states that such a register would be important for strategic decision-making, the tax system, the banking sector, appraisers, investors and other users.

In order to establish it, it is first necessary to arrange the regulatory framework, since there is currently no regulation that prescribes the jurisdiction and the way of keeping such a register.

- During 2026, an analysis of the existing regulations and development of new solutions is planned, while for 2026 and 2027, an analysis of the available data and the method of establishing a central database are planned - the document states.

This is followed by the preparation of technical specifications, the public procurement procedure and the development of a new system, including the data model, data migration, development of application solutions and web services.

During 2028, system testing and installation, as well as user training, are planned, while 2029 and 2030 would be dedicated to system maintenance and improvement.

A total of EUR 422,250 - EUR 30,000 in 2026, EUR 150,000 in 2027 and 2028, and EUR 45,000 and EUR 47,250 in 2029 and 2030 have been allocated for this project.

What will be the basis for the assessment of value

It is particularly important that the two projects are connected to each other. The real estate price register should provide data on real market transactions, while mass assessment would use various cadastral, market, spatial and field data to form value models.

- The program envisages continuous quality control and data validation, in order to preserve the reliability of the register - the document says.

The administration cites greater efficiency and transparency of the real estate management system, fairer assessment of property values, better quality data for spatial planning and investment decision-making, as well as better conditions for fiscal policy as the expected effects of the mass assessment.

Wider digitalization of the system

These two projects are part of the wider modernization of the Real Estate Administration system. The program envisages the development of a new integrated system for managing cadastral records, which would combine alphanumeric and graphic cadastral data and enable their integration with other systems of the Administration.

The improvement of the Administration`s Geoportal, the development of digital services and integration with e-Administration are also planned, with the aim of moving to the concept of "paperless cadastre" - electronic submission of requests, processing of cases and issuance of documents in digital form.

The establishment of a single information platform of the Real Estate Administration is also planned, which would connect existing applications and enable standardized and safer data access.

For the real estate market, the fact that the Program envisages further improvement of records of spatial units and the Address Register, as well as other activities on the quality of cadastral and spatial data, can be significant.

The essence of the document for the real estate market is, therefore, the transition from the data that are today scattered through various records and individual assessments to a system in which the state would have centralized data on realized market prices and a standardized model for determining the value of real estate.

- At the same time, this would represent a basis for better assessments, tax records, lending, investment decision-making and monitoring of market trends - it was concluded.

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