Market Size of Montenegro Home Mortgage Finance Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 8.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Montenegro Home Mortgage Finance Market Analysis
The Montenegro Home Mortgage Finance Market is currently valued at USD 2.5 billion and is expected to register a CAGR of 8% during the forecasted period.
The outbreak of the COVID-19 pandemic harmed the financial services sector. The individuals' debt and wealth levels became very bad. For individual homeowners, mortgage debt is the single largest source of debt. It includes the greatest effect on their finances and ability to stay solvent through wage decreases or wage losses.
For lenders, mortgages are typically the most significant asset on their retail banking book. It results in changes in originations, repayment schedules, and default rates, significantly impacting their profitability and liquidity.
When buying a property in Montenegro, arranging a mortgage can become an issue for some people, and acquiring a loan for real estate from non-residents takes work. However, the rise in the need to streamline housing lending services and increased disposable income to purchase housing is expected to grow this market during the forecasted period.
The country comprises a stable currency, low real estate tax rates, and the opportunity to obtain residence through property purchase and citizenship through investment. The Montenegro housing mortgage finance market is a popular place for investment for many people.
Montenegro Home Mortgage Finance Industry Segmentation
Housing Finance is a lending service that offers the end users money to purchase new properties such as a home or land. It helps individuals and businesses purchase these housing properties without giving the full buying price. The person borrowing this money repays the loan amount and interest up to the specified years. The Montenegro Home Mortgage Finance Market is segmented by application (home purchase, refinance, home improvement, and others), providers (banks, housing finance companies, and real estate agents), and interest rate (fixed rate mortgage loan and adjustable rate mortgage loan). The report offers market size and forecasts for Montenegro Home Mortgage Finance Market in value (USD billion) for all the above segments.
| By Application | |
| Home Purchase | |
| Refinance | |
| Home Improvement | |
| Others |
| By Providers | |
| Banks | |
| Housing Finance Companies | |
| Real Estate Agents |
| By Interest Rate | |
| Fixed Rate Mortgage Loan | |
| Adjustable Rate Mortgage Loan |
Montenegro Home Mortgage Finance Market Size Summary
The Montenegro Home Mortgage Finance Market is experiencing a period of growth, driven by several economic and social factors. The market is characterized by a significant reliance on mortgage debt, which is the largest source of debt for individual homeowners. This dependency is influenced by the rising housing prices, which have increased the need for home mortgages, particularly among first-time homebuyers. The market is dominated by a few large banks, with residential mortgages making up a substantial portion of their lending portfolios. The growth in tourism is also playing a crucial role in the market's expansion, as it boosts real estate demand, especially in tourist-attractive regions. This increased demand for property purchases is expected to drive the need for mortgage financing, contributing to the market's growth trajectory.
The economic landscape in Montenegro is supported by a stable currency and favorable conditions for property investment, such as low real estate tax rates and opportunities for residency and citizenship through property purchases. These factors, combined with government policies promoting tourism and infrastructure development, are creating a conducive environment for the home mortgage finance market. The rise in housing prices, while increasing the dependency on home finance, is also encouraging developers to build more homes, which could help moderate price increases over time. The market's growth is further supported by strategic moves from major players, such as acquisitions and credit lines aimed at strengthening the economy and supporting local enterprises. Overall, the Montenegro Home Mortgage Finance Market is poised for continued expansion, driven by economic growth, tourism, and strategic financial initiatives.
Montenegro Home Mortgage Finance Market Size - Table of Contents
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1. MARKET DYNAMICS AND INSIGHTS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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1.5 Impact of COVID-19 on the Market
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1.6 Technological Advancements
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2. MARKET SEGMENTATION
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2.1 By Application
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2.1.1 Home Purchase
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2.1.2 Refinance
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2.1.3 Home Improvement
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2.1.4 Others
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2.2 By Providers
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2.2.1 Banks
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2.2.2 Housing Finance Companies
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2.2.3 Real Estate Agents
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2.3 By Interest Rate
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2.3.1 Fixed Rate Mortgage Loan
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2.3.2 Adjustable Rate Mortgage Loan
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Montenegro Home Mortgage Finance Market Size FAQs
What is the current Montenegro Home Mortgage Finance Market size?
The Montenegro Home Mortgage Finance Market is projected to register a CAGR of greater than 8% during the forecast period (2024-2029)
Who are the key players in Montenegro Home Mortgage Finance Market?
Erste Bank Montenegro, Lovćen Bank, First Bank, Crnogorska Komercijalna Banka and Ziraat Bank Montenegro are the major companies operating in the Montenegro Home Mortgage Finance Market.
