ON
← Back to feed
Turks and Russians are fleeing the Montenegrin pearl and selling off real estate en masse, rents are dropping dramatically!
Croatia🏛️ PoliticsCenter4 hr. ago

Turks and Russians are fleeing the Montenegrin pearl and selling off real estate en masse, rents are dropping dramatically!

The real estate market in Montenegro, particularly in Budva, has seen a decline in buyers and a rise in property sales, especially by foreign owners. Prices have dropped significantly, with rental prices in areas like Rozino and near the university falling from around 700–750 euros per month to 500–550 euros. This trend is attributed to uncertainty surrounding visa regulations, leading many Turkish and Russian nationals to leave the country. Agents report that approximately 15% of Turks have already departed, reducing demand and increasing supply. While there is growing interest in residential properties among locals seeking homes rather than tourist rentals, the market lacks sufficient traditional family-style houses, which are mostly replaced by apartments built for tourism.

Turks and Russians are mass-selling properties in our neighboring area, with rental prices in the tourist gem of Budva dropping dramatically. The real estate market in Montenegro has seen an increasing supply of properties but a declining number of buyers. Prices have either stagnated or fallen, particularly noticeable in Budva, where foreign owners are selling their properties and leaving the country, according to reports from Blic. One of the main reasons for these changes is uncertainty surrounding the introduction of a visa regime, leading some foreign investors and residents to decide to leave Montenegro. According to real estate agent Tomislav Ranković, there has been a significant exodus of Turkish and Russian nationals, who have been among the largest buyers in Budva in recent years. “Everyone is somewhere in the zone of uncertainty because they don’t know whether visas will officially be introduced. They still hope they won’t, but according to our information, this is 100 percent certain. Many of them have already left Budva. Based on the announcements we have, around 15 percent of Turks have already left Montenegro, which clearly reflected on the Budva municipality. As a result, there’s no interest from Turks in buying, while on the other hand, properties that were previously rented out are now being sold,” says Ranković. This exodus has further increased the supply of properties and started reducing prices. The drop is especially visible in rentals, where prices have reached record highs in recent years. Single-room apartments in the neighborhood of Rozino and near the faculty, which previously cost around 700 to 750 euros per month, can now be found for 500 to 550 euros. At the same time, there is demand for houses in calmer areas, especially among buyers seeking property for living rather than for tourism. However, such properties are scarce. Decades of construction focused primarily on tourism have left Budva with many apartments but few classical family homes. “Around Budva, there is demand for houses, a more peaceful variant. However, Budva is specific. The houses built were not intended for living, mostly they were apartment-style buildings. Whoever could, built an apartment. When someone today wants to buy a serious house for living in Budva, it is very small percentage of objects that have a classic layout, with a living room and bedrooms. The majority of the market still consists of apartments, since land is almost nonexistent, and houses suitable for traditional living are practically non-existent,” emphasizes Ranković.

How this report was made. Objective News wrote this report from 2 source articles, using AI-assisted synthesis under our methodology. It is our own text, not a copy of any single outlet. Read our methodology.

Responsible editor: Matej BašaSpotted an error? Report it

Go to the primary sources (2)

The official sources this coverage is built on. Read them directly to bypass framing.

2 reports

Jutarnji list logoJutarnji listIndependentCenterFactual 90Objective 555 hr. ago
Turks and Russians are fleeing the Montenegrin pearl and selling off real estate en masse, rents are dropping dramatically!

The real estate market in Montenegro, particularly in Budva, has seen a decline in buyers and a rise in property sales, especially by foreign owners. Prices have dropped significantly, with rental prices in areas like Rozino and near the university falling from around 700–750 euros per month to 500–550 euros. This trend is attributed to uncertainty surrounding visa regulations, leading many Turkish and Russian nationals to leave the country. Agents report that approximately 15% of Turks have already departed, reducing demand and increasing supply. While there is growing interest in residential properties among locals seeking homes rather than tourist rentals, the market lacks sufficient traditional family-style houses, which are mostly replaced by apartments built for tourism.

Bias read (Center): The article presents a balanced account of the real estate market changes, citing expert opinions and data without overtly favoring any political stance. It discusses the impact of visa uncertainties on foreign investors but does not take a clear ideological position on immigration policies or the '

Why factuality (90): This article closely follows the primary source document, accurately reporting the exodus of Turkish and Russian citizens, the impact on property markets, and the drop in rental prices. The details about Tomislav Ranković’s statements are faithfully represented.

Why objectivity (55): The article uses strong emotive language such as 'fleeing' and 'dramatic' price drops, which can be seen as biased. It emphasizes the negative aspects of the situation more than it presents a balanced view.

Slobodna Dalmacija logoSlobodna DalmacijaIndependentCenterFactual 85Objective 604 hr. ago
The Turks and Russians are selling out our neighborhood in droves: rents in the tourist pearl are dropping dramatically!

The article reports on the declining property market in Montenegro, particularly in Budva, where foreign investors, mainly Turks and Russians, are selling their properties due to uncertainty around visa regulations. According to real estate agent Tomislav Ranković, this exodus has led to a surplus of properties and a significant drop in rental prices, especially in areas like Rozino and near the university. While there is growing demand for family homes in quieter zones, such properties are scarce, as most construction in the area was focused on tourism rather than residential living. The situation reflects broader concerns among foreign investors about future stability and legal requirements.

Bias read (Center): The article presents a balanced account of the property market changes, citing both the impact of visa uncertainties and the structural issues in housing supply. It does not overtly favor any political stance but highlights economic and regulatory factors affecting foreign investment. The framing is

Why factuality (85): The article accurately reports the primary source's information about the exodus of Turkish and Russian citizens due to uncertainty around visa regulations, the drop in rental prices by up to 200 euros per month, and the increase in property supply. However, it adds some minor embellishments like 'd

Why objectivity (60): The article uses emotionally charged language such as 'dramatic' and 'fleeing,' which introduces bias and sensationalism. It also frames the situation as a crisis rather than presenting the facts neutrally.

How each side covered it

The same event, grouped by the political lean of the outlets covering it.

How each side covered it

Support independent, bias-aware news and unlock the social pulse, community voting, and every other Supporter feature.

Become a Supporter

Covered around the world

The same event as reported in other countries.

Covered around the world

Support independent, bias-aware news and unlock the social pulse, community voting, and every other Supporter feature.

Become a Supporter

Claims check

Key factual claims, and how many sources assert vs dispute each.

Claims check

Support independent, bias-aware news and unlock the social pulse, community voting, and every other Supporter feature.

Become a Supporter

Keep the news honest.

ObjectiveNews is reader-funded and ad-free — we show you the bias instead of hiding it. Support independent journalism for €4/month.

Become a Supporter

Related stories