Podgorica, (MINA-BUSINESS) – The Tenants’ Association has published the first Montenegro Rent Index, which shows that the housing market puts pressure on average households, while being largely unaffordable for vulnerable groups.

The Association introduced the Montenegro Rent Index as a methodological tool for objectively monitoring the relationship between housing costs and citizens’ incomes.

“The aim of the Index is to provide the public and institutions with a clear and measurable overview of housing affordability, which has so far not existed in a systematic form,” the Association said in a press release.

The Index stands at 61, placing Montenegro in the housing burden zone according to this indicator. 

Affordable rent, as an internationally accepted benchmark, is defined as 25 to 30 percent of net income. In Montenegro, this amounts to between €255 and €306 per person.