Luxury vs Livability: Montenegro’s Real Estate Divide

Montenegro is emerging as a luxury real estate hotspot, but what lies behind the headlines? Are growing concerns about transparency, local impact, and who truly benefits at the center of the story? Pikasa Analytics offers data-driven insights into how these issues are reflected in media coverage and public discourse.

The intensification of foreign investment interest in Montenegro’s real estate sector, particularly through recent agreements with the UAE, has triggered significant public and institutional reaction. These developments highlight core tensions between economic ambition, legal oversight, and local interests.

According to the analytics.live platform, April 2025 saw a peak in media attention with 809 articles published. The most engaged piece was a Vijesti article titled “UŽIVO Skupština usvojila sporazum sa UAE o ekonomskoj saradnji” with 488 engagements.

The proposed transformation of Ulcinj and Velika Plaža into luxury tourism zones, supported by multi-billion-euro investments, has attracted media attention and sparked discussions regarding environmental impact, management of strategic land, and transparency in the negotiation processes.

This analysis by Pikasa Analytics, through its AI-powered media analysis and real-time media monitoring platform - Analytics.Live, examines how these dynamics are reflected in media coverage, public discourse, and digital engagement.

News by the Numbers: Real Estate in Focus

Between January and September 2025, media outlets published a total of 3,932 articles related to real estate and property investment, generating 63,604 engagements. On average, each article received 16.18 engagements across 83 different media outlets.

In contrast, social media activity around the same topic was more concentrated and engaging, with 858 posts generating 67,403 engagements, averaging 79 engagements per post, nearly five times higher than traditional media.

Informative Yet Critical: The Media’s Voice on Montenegro’s Real Estate Landscape

Analysis by Pikasa of the most engaged media and social media posts reveals a predominance of critical and informative tones, indicating a focus on scrutiny and fact-sharing. Neutral tones are comparatively less frequent. This pattern indicates an emphasis on providing detailed information and scrutinizing developments rather than simply presenting neutral or promotional content. The comparatively lower presence of neutral tones reflects a media environment where active engagement and analysis take precedence to inform the public and stimulate discussion.

In April 2025, Montenegro’s media saw a peak in publications centered on the economic cooperation agreements signed with the United Arab Emirates. A surge of articles from leading outlets like Vijesti, RTCG, Pobjeda, and Dan highlighted the promise of billions in investments targeting real estate, tourism, and major development projects such as Porto Montenegro and Luštica Bay. This media surge reflected intense public and political interest, with debates over constitutional concerns, land ownership, and the financial impact on regions like Ulcinj.

From Local to Luxe: Who Really Wins in Montenegro’s Real Estate Game?

In this context, the luxury real estate and tourism market in Montenegro is dominated by four key players: Porto Montenegro, Luštica Bay, Portonovi, and Dukley Gardens, whose media presence and digital engagement reflect these broader trends.

From January and September 2025, the luxury real estate and tourism industry in Montenegro generated a total of 2,464 media articles, 1,435 social media posts, and 163,743 engagements across four key brands in the market: Porto Montenegro, Luštica Bay, Portonovi, and Dukley Gardens.

Driving Engagement in Luxury Real Estate: Pikasa Breaks It Down

The analysis of engagement within the luxury real estate sector reveals who commands public attention and drives the conversation across media and social platforms.

Data gathered by Pikasa highlights the key players not only attracting the most mentions but also shaping the tone and direction of the debate in this competitive market.

What began as a luxury boom has evolved into a national conversation. Behind glossy developments lie growing questions about land ownership, community benefit, and long-term priorities. Pikasa’s media intelligence reveals how public discourse is shifting from admiration to accountability.

Data-Backed Insights

• April 2025 marked the peak in media coverage, driven by UAE-related economic cooperation agreements.
• Public engagement is higher on social media, with posts generating nearly 5x more interactions than traditional media articles.
• Media tone reflects rising scrutiny: informative and critical reporting dominates, while neutral narratives are less frequent.
• Porto Montenegro leads the narrative, frequently appearing as both a symbol of development and a focal point in political and economic debates.

From Investment to Impact: Pikasa Analytics’ Closing Insights

As Pikasa Analytics’ monitoring shows, Montenegro’s real estate is more than a story of luxury projects, it is a lens into the nation’s economic strategy, governance, and public trust. The future of developments like Porto Montenegro and Luštica Bay will depend on whether foreign investment can align with transparency and community benefit, shaping not only markets but also Montenegro’s identity on the global stage.