Kotor Property Prices in 2026: What the Listings Actually Show, Area by Area

If you search for property in Kotor, most of what you will find is not in the town you have seen in photographs. Of the 27 listings on Fijaka in Kotor municipality on 9 October 2026, none is in the Old Town and only five are on the bay. The other 22 are in Grbalj, the valley on the open-sea side of the municipality between Budva and the Luštica peninsula, and in Kavač, inland between Kotor and Tivat. Asking prices follow that split: flats in Grbalj were advertised at a median of about €2,400 per m², against €3,800 and €5,000 for the two bay flats with a stated price.

This article sorts those listings by area, shows what each area costs per m² and how far it is from the Old Town, and sets the numbers against the only official price series. The listing data is our own; Fijaka is a marketplace and does not value property.

What people search for, and why "Kotor" is a loose label

We checked Google's search suggestions on 9 October 2026. In English (UK and Montenegro) "kotor property" completes to for sale, prices, kotor bay property and kotor old town property for sale; in Turkish "kotor satılık ev" completes to fiyatları and dobrota; in Serbian "prodaja stanova kotor" lists neighbourhoods: Dobrota, Rakite, Sveta Vrača, Stari grad, Zlatne njive, Škaljari, Muo, Radanovići. Search volume is not publicly available and we do not give it.

The people searching are thinking of the bay. The listings answer with the whole municipality, which reaches from Risan at the top of the bay down to the open sea at Bigova and Krimovica. In MONSTAT's 2011 census table by settlement, the most recent settlement-level table we could check, Kotor municipality had 22,601 residents, but the settlement called Kotor had only 961. Most people lived in Dobrota (8,189), Škaljari (3,807), Risan (2,034) and Prčanj (1,130). Kavač (671), Radanovići (752), Lastva Grbaljska (530) and Krimovica (73) are listed under Kotor in the same table.

The census also settles two labels that listings blur:

• Lastva Grbaljska is in Kotor municipality, even when an advert calls it "Budva District". Three of the 27 listings use "Budva" in the title for a property in Lastva.
• Gošići is in Tivat municipality, even when it is advertised as Kotor. We left the two Gošići flats out of the Kotor figures below.

The municipality matters for more than the address line: the municipality where the property sits sets the property tax rate within the legal range and issues the assessment. Check the location on the cadastre extract, not on the advert.

The four areas behind a "Kotor" listing

Counts are listings live on Fijaka on 9 October 2026, all categories of real estate. "Flats with price and m²" are flats and studios for sale where the advert gives both; the price per m² is the asking price divided by the stated area. Distance is a straight line from the listing's map pin to the Old Town, so the road distance is longer.

Two flats is not a sample, so read the bay row as two data points, not an average. What the table does show is the shape of the market. Of the 22 homes (everything except plots and the warehouse), 19 are marked as new build, and 15 of the 27 listings mention a pool, almost all of them in Kavač and Grbalj. Kavač units are also small. The median Kavač flat was 27 m² with a median asking price of €98,500, which is why it looks expensive per m² and cheap per ticket. The median Grbalj flat was 60.5 m² at €145,750.

Houses tell the same story. In Grbalj three new villas were advertised at €399,000 (200 m²), €399,900 (147 m²) and €480,000 (160 m²), plus an estate of three houses at €1,600,000; the one house on the bay, in Prčanj, at €550,000 for 145 m²; the villa in Kavač at €900,000 for 178 m². Three building plots in Grbalj were offered at €180,000 to €230,000; the one plot on the bay, in Risan, at €990,000.

Against the official figure and the neighbours

The official number comes from MONSTAT's new-build price release for the second quarter of 2026, which gives no separate figure for Kotor; all six coastal municipalities share one average. Our new-build price report tracks that series quarter by quarter. Asking prices sit above sale prices almost everywhere, so the gap between €2,838 and the Fijaka medians is not a measure of overpricing, and it would be wrong to read it as one.

Three caveats about our side of the table. Most of these listings come from one agency's catalogue that was added to Fijaka this week, so they reflect that agency's stock as much as the market. Twelve flats is a small number, and one expensive flat moves the median. And one Kavač listing has its map pin on the Old Town itself, a default rather than the real location; we did not count it in the distances.

What to check before you buy in Kotor municipality

1. The location on the cadastre extract, not on the advert. Lastva Grbaljska is Kotor; Gošići is Tivat. Your property tax follows the municipality the property is actually in.
2. Distance by road. Grbalj is 7 to 16 km from the Old Town in a straight line. Whether that suits you depends on what you want from "Kotor": the bay and the town, or quieter new build closer to Budva's beaches.
3. Whether the building is finished and registered. Nearly all Grbalj and Kavač stock is new; the risks of buying before completion are in our guide to buying off plan.
4. What the complex costs to run. A shared pool, lift and garden mean a higher monthly building charge. Glatko's guide to owning a flat from abroad, the building manager and its charges explains how the charge is set and what happens if it goes unpaid.
5. Older houses on the bay. Kotor's Old Town and the bay around it have been a UNESCO World Heritage site since 1979; if you look at an older stone house there, check the permit and legalisation status more carefully than elsewhere, as we noted in our comparison of cities by population and tourism.

For Budva, the neighbouring market with the most listings, see buying an apartment in Budva neighbourhood by neighbourhood. The current listings, population and tourism figures for Kotor are on the Kotor city page.

Frequently asked questions

How much does property cost in Kotor? On 9 October 2026 flats for sale in Kotor municipality on Fijaka were advertised at a median of €3,541 per m² (12 flats). By area: about €2,400 per m² in Grbalj, about €3,700 in Kavač, and €3,800 to €5,000 for the two priced flats on the bay. These are asking prices, not sale prices.

Is there an official price per m² for Kotor? No. MONSTAT publishes one figure for the coastal region as a whole, €2,838 per m² for new flats sold in the second quarter of 2026, covering Bar, Budva, Herceg Novi, Kotor, Tivat and Ulcinj together.

Is Lastva Grbaljska in Budva or Kotor? Kotor. MONSTAT's census table by settlement lists Lastva Grbaljska under Kotor municipality, although some adverts describe it as "Budva District".

Is there property for sale in Kotor Old Town? On 9 October 2026 Fijaka had no listing in the Old Town. Kotor's Old Town and the bay around it have been a UNESCO World Heritage site since 1979, so for any older building there check permits and the status of any works with particular care.

What is Grbalj? The valley in the south of Kotor municipality, on the open-sea side between Budva and the Luštica peninsula, with villages such as Radanovići, Lastva Grbaljska and Krimovica. Most new-build listings advertised as "Kotor" are there.

Why are Kavač flats expensive per m² but cheap overall? Because they are small. The median Kavač unit on Fijaka was 27 m² at €98,500, mostly studios and one-bedroom flats in new complexes with a pool.

Sources

• MONSTAT, Census 2011, data by settlement (table N1), checked 9 October 2026.
• MONSTAT, Prices of dwellings in new residential buildings, Q2 2026 (preliminary), checked 9 October 2026.
• Fijaka listings in the real estate category, read on 9 October 2026; prices are asking prices set by advertisers.
• Google search suggestions, checked 9 October 2026 (en, tr, sr).

If you own a home in Kotor or Grbalj and want to sell or let it, you can list it on Fijaka free of charge.