In 2024, inflation in Montenegro remains high, but prices in the country are still lower than in most EU countries. The country offers a relatively affordable standard of living for those who want to move to the country. In this article, we have prepared for you the necessary information based on data from the Statistical Office, so that you can estimate the budget for moving and living in a new country.

The content of the article:

1. Housing rent and utilities
2. How much does it cost to open a company in 2024 in Montenegro for legalization?
3. Rent an office or workplace in Montenegro
4. Transport rental, fuel prices in Montenegro in 2024, car repairs
5. Public and intercity travel
6. Food prices in Montenegro in 2024
7. Alcohol, tobacco
8. Household chemicals
9. Average bill in a cafe or restaurant
10. Clothing and cosmetics
11. Children's products, stationery
12. Medicines
13. Household appliances
14. Services of medical clinics and laboratories
15. Beauty salons
16. Entertainment and leisure
17. Average cost of expenses per month per person

In 2023-2024, Montenegro faced rising inflation, like many other countries in the world. According to the Statistics Office, the average annual inflation rate in 2023 was 11.8%, the highest in the last 20 years. In 2024, inflation is expected to fall to 7.9%, but it will still remain above the average level over the past 11 years (1.5%).

The following goods and services have increased in price most noticeably:

• Food: Food prices rose 14.5% in 2023. The most expensive increases were for vegetables (22.5%), fruits (18.7%), meat (16.2%) and dairy products (15.8%).
• Energy: prices for electricity increased by 12.4%, for gas – by 20.1%, for gasoline – by 15.3%.
• Real estate: real estate prices in Montenegro increased by 20% in 2023. Sale of 1 m²: €1500 (national average)
• Apartment rental (1-room) - €300-400 per month
• House rental (3-room) - €600-800 per month
• Purchase of an apartment (1-room) - €100,000-150,000
• Buying a house (3-room) - €200,000-300,000

Long-term rental offers from our agency are pictured below. See the full catalog of rental properties in Budva, Becici, Przno, Tivat at the link: https://gomonte.me/en/search/rent/

The photo below shows prices for housing sales. You can study in more detail the prices for purchasing real estate in Montenegro, one-bedroom, two-bedroom apartments with panoramic views, houses by the sea, land plots, office premises, in our catalogue: https://gomonte.me/en/search/sale/

It is worth noting that price increases are uneven. In tourist areas, prices rise faster than in other regions of the country. Comparison of prices in Montenegro with other countries:

• Food prices here are comparable to prices in Russia and Ukraine, but lower than in the European Union.
• Prices for utilities are lower than in the European Union, but higher than in Russia and Ukraine.
• Prices for renting and purchasing real estate are lower than in neighboring countries, but higher than in Russia and Ukraine.

1. Housing rent and utilities

Prices in Montenegro for products, goods, tourism, recreation, entertainment, social services in 2024 are different and depend on the following factors:

• Tourist or non-tourist city
• Location on the coast or near the sea
• Accessibility to the first line of the sea
• How developed is the infrastructure
• City population
• Distance from the capital

Long-term rental housing in Montenegro in the tourist cities of Bar, Budva, Herceg Novi, Tivat, starts from € 300 / month, without utilities. In the cities remote from the sea Niksic, Cetinje, Zabljak in the north of Montenegro, you can find rent from €150/month.

Cost of parking: if parking is located in a multi-storey building, then the rent for it is usually separate from the cost of renting housing, approximately € 100 / month. If the parking is public, it will cost from €2/hour.

The cost of utilities in Montenegro depends on the season and also the location of the city. So in the summer for a family of three for electricity, at least €30 per month, depending on how often you use the air conditioner and where the settlement is located. Fares are higher in the touristic area. Also you pay for garbage collection, running water approximately €15/month.

If you have already decided on the city for moving and living, on our website you can rent and buy real estate in Montenegro online. Just choose an object, contact us in any way convenient for you, get a free consultation from our specialist. Read more about how to buy property in Montenegro online here. Payment is possible in dollars, USDT, Bitcoin, for citizens from Russia there is an opportunity to buy real estate for rubles.

2. Opening and support of a company in Montenegro

If you decide to move to Montenegro and open your own business or you are interested in business relocation, use our advice and study the detailed list of documents required for the legalization procedure on our website in this section. The cost of services is from €100. Obtaining a temporary residence permit from €150. 

3. Renting an office or workplace (coworking)

For those who work remotely in the IT field, developers, designers or other professions can use the services of coworking. The cost for 1 hour is approximately the same from €10. The rent includes a workplace, a relaxation area with coffee and tea, a meeting area. The most popular on the coast is located in Budva, 2 minutes from the sea - IT Branch House. Meeting rooms 10 €/hour or from 20-40 €/day, accommodate up to 10 people.

The arena of an office space depends on the location in which part of the city you need an office, as well as the area and the availability of the Internet. On average, rental prices in Montenegro are €500 for a small office of 40 square meters.

Look in our "Commercial Real Estate" section for offers to purchase premises for your business on our website or leave us your application with a description of the requirements for office space, our specialists will select the premises for you.

4. Car rental, gasoline, car repair

The cost of renting a car in Montenegro also depends on the season. During the summer period, a long-term rental is more profitable than a two- or five-day rental. From September to May, prices drop and you can rent a small car for one passenger or the whole family for €15/day. Car wash services from €5.

The cost of fuel in October 2024, depending on the brand for 1 liter:

• Eurosuper 95 – €1.53
• Eurosuper 98 – €1.27
• Eurodiesel - €1.51

Car repair shops offer all the services necessary for motorists. Prices depending on the locality. Important for all drivers: from November to March inclusive, it is mandatory to use winter tires or winter chains in the country (required by local rules), for violation of the rule there is a fine for an individual from €100 and a legal entity from €300.

Some popular auto repair services for passenger cars, average price:

• Fitting or removing a tire €3
• Wheel installation and balancing €7
• Battery installation €10
• Seasonal storage of tires or wheels (6 months) €10

5. Public and intercity transport

From the cities of the coast, you can get to any point by public transport, which runs every hour, and the most popular directions to the capital, every 20 minutes. The fare to neighboring cities is from 2 euros. The cost of 1 bus ticket to Serbia is €20, to Croatia €25, Bosnia and Herzegovina €12.

6. Grocery stores and markets

The cost of products in shops and local markets is different and depends on how popular the city is among tourists. In local markets in Budva, the cost of products is higher than in supermarkets and higher compared to local markets in other cities far from the sea. In the market you can buy homemade products: cheeses, honey, cottage cheese, eggs, wine, fruits and vegetables grown in ecological conditions from farmers. Always available fresh meat and fish, mussels, shrimps caught in the Adriatic Sea by local fishermen.

In all settlements, home delivery of groceries works well. This is true if you forgot to buy groceries before the weekend or you don't have a car. On Sunday, shops are closed, but you can install a special application and order food from any cafe or order the necessary products from an online store.

Standard grocery basket, average bill, €:

• Bread – €0.4
• Flour 1 kilogram – €0.5
• Pasta and cereal products 1 kilogram – €0.90
• Vegetables – €2.0
• Fruit – €1.5
• Milk 1 liter – €1.45
• Cheese 1 kilo – €10
• Wine 1 liter – €4.7
• Tobacco products – €2
• Chicken meat 1 kilogram – €2
• Lamb meat 1 kilogram – €7
• Eggs 10 pieces – €2
• Seafood - €7
• Baby food in glass packaging – €3
• Cat food 1 kg - €6.50 or 0.80/100 grams

Almost all large retail chains support producers of healthy food without sugar, gluten and lactose. The prices for such goods are higher than for ordinary ones, but they are affordable and have a varied line for vegans, vegetarians, and athletes.

• Corn flour paste – €3.50
• Chocolate without sugar – €2.70
• Milk without lactose – €2
• Protein bars without palm oil – €2.50

7. Alcohol and tobacco products

Local producers, as well as Serbia, Bosnia, Macedonia, offer a large selection of wines at affordable prices starting from 4 euros per 0.5 liter. Italian, Croatian, French from 8 euros. Specialized markets have more offers from producers from all over the world, including craft beer and strong elite alcohol. In restaurants and bars, the atmosphere with a choice is more complicated and wines are mainly presented only from local producers, also local beer, from aperitifs herbal liqueurs at 3.5 euros per 0.30 ml, house wine from 4.0 euros per 200 ml, fortified alcohol from 4 euros for 0.30 ml. Very expensive tobacco products, on average from 3.0 euros.

See prices below from a specialty supermarket in February 2024.

8. Household goods

Home goods and household chemicals can be found in any large supermarket, there is everything you need to care for furniture, as well as hypoallergenic products for caring for children's things: powder, soap, wipes.

Average bill for goods per item in euros:

• Floor cleaners – €3
• Powder 2 kg – €6.50
• Crockery set for a family of 3 (mug, spoon, plates, pot/frying pan) – €35
• Bed linen 1 set – €40

9. The average order of prices for food (in catering establishments) for one person.

• Burek (small puff pastry bun with meat) - €2,5
• Shawarma – €2.5
• Confectionery to take away – €1
• Americano or espresso in a cafe – €2,0
• A glass of local wine - €4
• Water in a glass bottle 0.25 ml – €2
• Pizza in a cafe (for two) – €5
• Breakfast in a cafe (scrambled eggs, sausage or prush, mixed vegetables bread) – €4
• Dinner at a restaurant with a European menu with a good view (seafood or meat dish, glass of wine, salad) – €40
• Dinner at a local restaurant or cafe (hot dish, glass of wine, vegetables) – €25

10. Shopping and cosmetics

The choice of cosmetics and clothing in the country is represented by many popular brands from Germany, Korea, Israel, America, Serbia, Montenegro, Turkey, Italy. There are shopping centers in the capital and on the coast where you will find everything from home clothes to winter outerwear made of genuine leather, shoes for any season.

The cost of clothes depends on the country of the manufacturer and the popularity of the brand. In any place you will find small markets where there are good prices for similar clothes. Men's and women's casual summer clothes from €10. Brand brands make sales every season and you can buy things with a discount of up to 70%. Look also for Outlet stores, which offer quality collections from previous years at affordable prices.

11. Children's products, clothing, school stationery

The cost of clothing for children is 10% lower than for adults, depending on the brand and location of the store. It is better to choose shopping centers outside the city, where you can dress your child, buy the necessary goods for school, toys, board educational games. Average cost of office supplies:

• Paperback notebooks – €0.50
• Pens – €0.50
• School backpack – from €30
• Children's books in Serbian or English – from €5
• Goods for creativity (sets of paints, felt-tip pens, etc.) – from €3           

12. Pharmaceuticals

In large network pharmacies in Montenegro, you can find not only medicines, but also medical and decorative eco-cosmetics, products for children, orthopedic shoes, products for diabetics and order what is not in the pharmacy, but is available from distributors. Usually, the order is completed within a week. Prices for goods depend on the name of the network and the population of the point. In small towns and the capital, pharmaceutical products are cheaper.

A standard set of medicines for colds that are dispensed without a doctor's prescription:

• Paracetamol 10 pieces – €2
• Coldrex 10 packs – €5
• Vitamin C - €2
• Immunobooster – €8

13. Household appliances, computers, telephones

In all chain stores of household appliances, phones and computers, you can buy goods with a 15% discount if you pay in cash. In the capital, you can find an automatic feeder for cats and dogs, phones of major brands, and electric scooters. Many stores operate online and will deliver goods to your home.

14. Medical centers, private clinics, laboratories

Each municipality has polyclinics where you can use the services for free if you have a residence permit in Montenegro and a special medical book, as well as private clinics and laboratories.

An appointment with a therapist in a private clinic is 30-50 euros, the same approximate cost of other specialists: gastroenterologist, endocrinologist, gynecologist, pediatrician. Standard laboratory tests cost per service per person:

• Complete blood count – €5
• Allergen testing – €40
• COVID tests – €10-15

15. Beauty services, Spa, massage, manicure, haircut

Beauty industry services are very developed in the country. Especially during the tourist season, a large selection of spas and various treatments. Manicure at home or manicure in the salon, this is everyone's preference, the cost is from €20. Men's haircut in the salon €5, women's from €8. Hairstyling prices for women start at €15.

A one-day guest pass to a 5-star hotel spa costs €20-30, depending on the season. This includes access to the pool, saunas and some of the hotels will offer access to the gym, a beach area with an umbrella and a sun lounger in this price.

Gyms provide not only exercise equipment, everywhere you will be offered a wide range of different group workouts, individual sessions with a trainer in the gym or outdoors in good weather. One-time training on simulators from €5. Personal training with a trainer plus gym membership from €15/ visit. Group yoga or zumba class from €10. Monthly subscription depending on the additional services of the sports center €30-150.

16. Entertainment and leisure

Entertainment facilities for adults and children, especially in the summer, will satisfy any need. Extreme types of recreation, yachting, fishing are very developed. Also in any tourist city you will find excursions with a private guide or boat trips. Parks, hiking in the mountains, zoos on private farms and the new aquarium in Kotor with Adriatic marine animals will delight all members of your family, they are open at any time of the year and on weekends. The cost of entry to water parks, museums, cinemas and zoos is from 5 euros per person.

Beaches in Montenegro are divided into public and private. Public beaches can be found in any municipality and are free, but there are no changing rooms or toilets. Private beaches are equipped with everything you need, including showers and changing rooms, there are bars where you can order food and drinks. Masseurs work in top places, who will take care of the health of your body to the sound of the waves. Entrance to such beaches starts from 20 euros per person.

17. Budget for 1 per month for one person

Thus, we can calculate the approximate average budget for monthly expenses in Montenegro per person, excluding legalization costs:

• Housing rental – €300
• Car rental – 300
• Utilities – €50
• Products – €300
• Entertainment and recreation – €150
• Total per month: €1100

If you have already decided to move to Montenegro and are looking for a property to buy or rent, use our search on the site and compare the cost by city. You can find out the cost of a residence permit in Montenegro and the list of documents for submitting an application on our website in the section: gomonte.me/services. Do you have any questions? Contact us in any convenient way: +382 69 777 680 Viber/WatsAap/Telegram