Get all the data you need about the real estate market in Kotor
This article focuses on apartment purchase prices in Kotor, Montenegro, covering how much apartments cost across 12 neighborhoods as of 2026.
We constantly update this blog post so the data you see here always reflects the most current market conditions.
Prices vary a lot depending on where you look, from the historic Old Town all the way to quieter residential areas farther from the bay.
And if you're planning to buy a property in Kotor, you may want to download our real estate pack about Kotor.
A quick summary of apartment prices in Kotor
| Metric | Value |
|---|---|
| Most expensive Kotor neighborhood for apartments | Stari Grad (Old Town), at around €6,200/m² |
| Most affordable Kotor neighborhood for apartments | Sveti Stasije, at around €2,600/m² |
| Average price per square meter across all Kotor neighborhoods | Around €3,330/m² |
| Median apartment price in Kotor | Around €225,000 |
| Lowest realistic starting budget to buy in Kotor | Around €99,000 (Sveti Stasije) |
| Most expensive apartment type in Kotor (by bedroom count) | Two-bedroom apartments |
| Most affordable apartment type in Kotor (by bedroom count) | Studio apartments |
| Average price for a studio apartment in Kotor | Around €115,000 |
| Average price for a one-bedroom apartment in Kotor | Around €185,000 |
| Average price for a two-bedroom apartment in Kotor | Around €280,000 |
| Price gap between the most expensive and least expensive Kotor neighborhoods | €3,600/m² (from €6,200 down to €2,600) |
| Price spread across Kotor neighborhoods | Stari Grad costs about 2.4 times more per m² than Sveti Stasije |
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Kotor neighborhoods in 2026 ranked by apartment purchase price
This table ranks 12 neighborhoods in the Kotor apartment market by purchase price, from the most expensive to the most affordable.
For each Kotor neighborhood, the table includes the average price per square meter, the median property price, the starting budget, the average price for a studio apartment, a one-bedroom apartment, and a two-bedroom apartment, the typical buyer profile, the key advantages, the key drawbacks, and the market segment.
Finally, please note you'll find much more detailed data in our real estate pack about Kotor.
| Rank | Neighborhood | Average Price per Square Meter | Median Property Price | Starting Budget | Average Price for a Studio Apartment | Average Price for a One-Bedroom Apartment | Average Price for a Two-Bedroom Apartment | Typical Buyers | Key Pros | Key Cons | Market Segment |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Stari Grad (Old Town) | €6,200 | €350,000 | €175,000 | €180,000 | €305,000 | €430,000 | Heritage lifestyle buyers looking for a unique address inside a UNESCO-listed walled city | UNESCO World Heritage status, extreme scarcity of available apartments, walkable historic charm, and the strongest prestige in the Kotor apartment market | Parking is very difficult, apartment layouts can be irregular, and renovation works face strict heritage restrictions | Luxury |
| 2 | Muo | €3,900 | €275,000 | €145,000 | €135,000 | €210,000 | €315,000 | Bay-view buyers looking to upgrade their lifestyle while staying close to Kotor Old Town | Very close to Old Town, strong water views over the Bay of Kotor, and a quieter day-to-day feel than central Kotor | Limited flat land available, fewer everyday services nearby, and prices can vary a lot depending on how good the view is | Premium |
| 3 | Orahovac | €3,700 | €260,000 | €150,000 | €125,000 | €200,000 | €300,000 | Lifestyle second-home buyers who want calm waterfront living with a beautiful bay setting | Attractive position on the bay, a clean and relaxed atmosphere, and strong appeal for buyers who want quiet coastal living | Small market with few listings at any one time, and fewer year-round services compared to central Kotor areas | Premium |
| 4 | Dobrota | €3,350 | €240,000 | €125,000 | €115,000 | €185,000 | €278,000 | Investor-landlord buyers who want the broadest choice of Kotor apartments in one location | The deepest apartment market in Kotor by listing volume, popular seafront stretches, and easy access to schools and everyday services | The most sought-after pockets can feel busy, parking is not always easy, and weaker micro-locations within Dobrota vary significantly in quality | Premium |
| 5 | Prčanj | €3,300 | €235,000 | €135,000 | €120,000 | €182,000 | €273,000 | Seafront family buyers who want a charming waterfront feel without the density of Dobrota | Charming waterfront character, calmer daily life than Dobrota, and a good balance between lifestyle quality and price level | Narrow road access in places, thinner apartment stock than Dobrota, and some buildings need upkeep | Premium |
| 6 | Kostanjica | €3,200 | €245,000 | €160,000 | €125,000 | €190,000 | €285,000 | Scenic bay-home buyers drawn by open views toward Perast and a premium resort-style feel | Wide postcard views toward Perast, strong lifestyle appeal, and good inventory of premium resort-style apartments | Very small market overall, fewer local services, and prices can jump sharply for the best view-facing units | Premium |
| 7 | Stoliv | €3,040 | €220,000 | €130,000 | €110,000 | €175,000 | €265,000 | Quiet coastal households who want bayfront living at prices below Kotor's top-tier neighborhoods | Pleasant bay setting, lower prices than the premium Kotor waterfront spots, and a solid long-term residential feel | Limited apartment volume, steep terrain behind the waterfront strip, and less everyday convenience than Dobrota | Mid-Market |
| 8 | Škaljari | €3,000 | €215,000 | €120,000 | €105,000 | €170,000 | €255,000 | Local upgraders who want proximity to Old Town without paying Old Town prices | Close to Kotor Old Town without the Stari Grad premium, practical year-round living conditions, and newer apartment stock available | Less postcard character than bayfront neighborhoods, some traffic pressure, and best new complexes still carry relatively high prices | Mid-Market |
| 9 | Risan | €2,950 | €205,000 | €130,000 | €100,000 | €165,000 | €248,000 | Value-seeking buyers who want real town services at a lower entry price than core Kotor | Better entry pricing than central Kotor, a growing supply of new-build apartments, and access to genuine local town amenities | Product quality varies widely between projects, and the presence of branded luxury stock can make average prices misleading | Mid-Market |
| 10 | Morinj | €2,900 | €210,000 | €135,000 | €98,000 | €160,000 | €244,000 | Resort-oriented buyers who prefer a polished lifestyle complex over an urban neighborhood setting | Spa-complex and lifestyle inventory give Morinj a polished feel that suits buyers who do not need a city environment | Less urban convenience than central Kotor, heavy reliance on resort complexes, and weaker resale liquidity outside the best projects | Mid-Market |
| 11 | Kavač | €2,800 | €195,000 | €115,000 | €95,000 | €155,000 | €235,000 | Airport-commuter buyers who split their time between Kotor and Tivat and want practical access to both | Good road access to both Tivat and Kotor, newer apartment projects available, and better value than prime waterfront zones | Not true bayfront living, and some buyers find the setting less atmospheric than the coast-hugging neighborhoods | Affordable |
| 12 | Sveti Stasije | €2,600 | €170,000 | €99,000 | €85,000 | €145,000 | €220,000 | Budget coastal buyers looking for the lowest realistic entry point into the Kotor bay apartment market | The most accessible price level for Kotor bay living, with simpler apartment stock and a straightforward buying process | Thin market with few listings at any one time, fewer standout projects, and weaker name recognition than Dobrota or Prčanj | Budget |
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Key insights about apartment purchase prices in Kotor
Insights
- Stari Grad apartments in Kotor cost about 2.4 times more per square meter than the cheapest neighborhood, Sveti Stasije, meaning the same budget buys you roughly half the space if you choose the Old Town.
- A studio apartment in Kotor Old Town starts at around €180,000, which is already higher than the average one-bedroom apartment price in six other Kotor neighborhoods.
- Dobrota has by far the largest apartment market in Kotor, with around 173 active listings, giving buyers more choice and more negotiating room than anywhere else on the bay.
- Even Kotor's most affordable neighborhood, Sveti Stasije, starts at around €99,000, which means there is no truly cheap entry point into the Kotor apartment market.
- Muo and Orahovac sit in a clear premium gap above mainstream bayfront areas, despite being less well-known than Dobrota or Prčanj, largely because of their view quality and proximity to Old Town.
- Kostanjica apartment prices are supported more by postcard-quality views toward Perast than by everyday convenience, making it a lifestyle bet rather than a practical first home.
- The gap between a two-bedroom apartment in Stari Grad (€430,000) and one in Sveti Stasije (€220,000) is €210,000, which is roughly the full price of an entire Sveti Stasije apartment.
- Official Montenegro coastal new-build prices reached €2,570 per square meter in late 2025, but active Kotor apartment listings were already averaging around €3,330 per square meter by early 2026, meaning Kotor trades at a significant premium to the official coastal benchmark.
- Škaljari offers near-center access to Kotor Old Town without paying the Muo or Stari Grad premium, making it one of the better value-for-location options for practical year-round living.
- Micro-location matters more in Kotor than in most other markets because two apartments with similar headline prices can differ enormously based on sea view, slope, parking availability, and whether the building is a modern complex or an older stone structure.
- Risan apartment prices look attractive on paper, but branded luxury developments in the area push the average upward, so buyers need to look carefully at what they are actually comparing.
- Kavac is the most practical compromise for buyers who need easy access to both Kotor and Tivat Airport, and it offers newer apartment stock at prices around 55% below Stari Grad.
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About our methodology
Kotor does not have a publicly accessible, official neighborhood-by-neighborhood apartment sales register. The figures in this article are therefore carefully triangulated market estimates, not notarized transaction records. We built them from official Montenegro statistics on coastal residential prices, Central Bank of Montenegro macro data on real-estate investment flows, and current apartment-only listing evidence from transparent listing portals covering Kotor neighborhoods.
We also believe it is important to show our reasoning. It is one of the ways we make our work solid, transparent, and rigorous, just as you will see in our real estate pack about Kotor.
First, please note that this data is updated regularly, so what you see here reflects the current values as of today.
In order to get reliable data, we applied a strict source filter. We only used authoritative, verifiable sources, not random listings or unsupported figures. More on that point below.
For each Kotor neighborhood, we aggregated the freshest apartment purchase price data available. When possible, we cross-checked multiple sources to confirm the same price range.
This allowed us to estimate the average price per square meter and the median property price for each Kotor neighborhood.
We also calculated the starting budget, which represents the lowest realistic entry point to buy an apartment in that neighborhood. This is not the cheapest possible listing, but a real, achievable floor for a standard apartment purchase in Kotor.
For each apartment category, we estimated an average purchase price based on local market conventions in Kotor. Studio apartments are assumed to be around 30 m², one-bedroom apartments around 55 m², and two-bedroom apartments around 83 m². These size assumptions were applied consistently across all 12 neighborhoods.
These estimates were not applied as one flat number across the city. They were adjusted by neighborhood and apartment type to better reflect local ownership conditions and price levels in the Kotor market.
This table should therefore be read as a structured market estimate, not as an exact guarantee of transaction prices. Honesty, quality, and rigor are at the core of our work, and they are also what you will find in our real estate pack about Kotor.
What sources have we used to write this article about Kotor apartment prices?
Whether it's in our blog articles or the market analyses included in our real estate pack about Kotor, we rely on verifiable sources and a transparent methodology.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it is authoritative | How we used it |
|---|---|---|
| MONSTAT Q1 2025 New Residential Dwelling Prices | MONSTAT is Montenegro's official national statistics office, making this an authoritative primary source for residential price data. | We used it to establish the early-2025 coastal price baseline for Montenegro. We then compared Kotor neighborhood asking prices against that official benchmark to understand how much of a premium the Kotor market carries. |
| MONSTAT Q2 2025 New Residential Dwelling Prices | This is an official quarterly government dataset with a transparent regional breakdown covering Montenegro's coastal areas. | We used it to track how coastal apartment prices evolved through mid-2025. We also used it to confirm that the Montenegrin coast remained the most expensive broad region in the country. |
| MONSTAT Q3 2025 New Residential Dwelling Prices | This is a timely, official quarterly release focused directly on residential dwelling prices across Montenegro. | We used it to check whether the coastal price trend continued rising into the second half of 2025. We also used it to confirm that Kotor's pricing premium was not a short-term anomaly limited to one quarter. |
| MONSTAT Q4 2025 New Residential Dwelling Prices | This is the most recent official quarterly release available, covering the period closest to April 2026. | We used it as the primary official benchmark before layering in neighborhood-level listing data. We also used it to anchor all Kotor neighborhood price estimates against a verified national coastal figure. |
| Central Bank of Montenegro / IMF 2025 Article IV Mission Statement | The Central Bank of Montenegro is a primary institutional source for the country's macro-financial context and investment flows. | We used it to confirm that foreign investment in Montenegro remains heavily concentrated in real estate. We also used it to explain why coastal Kotor stays expensive relative to local income levels. |
| Central Bank of Montenegro Bulletin 12/2025 | This is an official central bank publication with current macroeconomic and balance-of-payments data for Montenegro. | We used it to cross-check the broader real-estate and foreign direct investment backdrop. We also used it to support the demand-side explanation behind the strong and sustained pricing on the Kotor coast. |
| Estitor Kotor Apartments Overview | Estitor is a live listing portal with apartment-only filters and transparent asking-price data for Kotor and its neighborhoods. | We used it as the city-level market snapshot for Kotor apartments in April 2026. We also used it to sanity-check that our neighborhood ranking stayed consistent with the overall Kotor apartment average. |
| Estitor Dobrota Apartments | This is a neighborhood-level apartment listing source with live asking-price data specific to Dobrota in Kotor. | We used it to benchmark Dobrota directly rather than treating it as a generic part of the wider Kotor area. We also used it to calibrate price levels for other nearby bayfront neighborhoods. |
| Estitor Muo Apartments | This is one of the clearest live apartment sources for the premium Muo micro-market within Kotor. | We used it to place Muo near the top of the price ranking and to understand the specific premium that waterfront scarcity commands there. We also used it to compare Muo directly against more inland alternatives at lower price points. |
| Estitor Prčanj Apartments | This is a current neighborhood-level listing source with visible unit examples for Prčanj in Kotor. | We used it to estimate the Prčanj price band and realistic entry budget for buyers. We also used it to compare this family-oriented seafront area against more tourism-driven Kotor micro-markets. |
| Realitica Kostanjica Apartments | Realitica is a well-known regional property listing portal with active apartment listings for smaller Kotor neighborhoods like Kostanjica. | We used it to fill the gap where Estitor coverage of Kostanjica was thin. We also used it to cross-check that Kostanjica pricing was consistent with nearby premium bay neighborhoods. |
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