Revenue
60.0% of sector revenue
579 companies earned 137.89m€ in 2025, 60.0% of Real estate sector revenue. Revenue has grown 6.3× since 2015.
60.0% of sector revenue
456 with at most one employee
Largest employer: Portonovi Resort Management Company (150)
Median company -28.7% · 24% profitable
Average per employee, not per company
Revenue in € million (bars) and filing companies (below), 2015–2025
Revenue change vs 2024, companies with at least 1m€ that year
Ranked by total revenue · Showing 51–100 of 579
* Avg payroll cost per employee per month = wages, wage compensation and other personnel expenses from the income statement (AOP 211: net wages, taxes and contributions on wages including the employer's, and other personnel expenses) / employees / 12. It is not an employee's gross or net salary; reporting errors can move it significantly, and values below 300€ a month are not shown. How we calculate →
Profit excludes 2 filings with an implausible profit.
The activity title is the code's title in the KD 2010 classification (NACE Rev. 2), which applies to every year shown. The registry now shows titles from the new classification for the same codes, so titles can differ.
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 21,787,739€ | 96 |
| 2016 | 21,855,192€ | 113 |
| 2017 | 31,747,558€ | 142 |
| 2018 | 27,965,481€ | 186 |
| 2019 | 29,904,652€ | 231 |
| 2020 | 36,880,060€ | 259 |
| 2021 | 48,737,793€ | 331 |
| 2022 | 134,598,434€ | 469 |
| 2023 | 120,053,953€ | 538 |
| 2024 | 136,621,734€ | 566 |
| 2025 (Preliminary) | 137,888,393€ | 579 |
The number of companies jumped most in 2022: from 331 to 469.
Employees and payroll cost per employee per month*
0.2% |
| 300,569€ |
| +109.1% |
| 243,504€ |
| 81.0% |
| 1 |
| 804€ |
| 53 | Sb.Immo03727521 · Budva | 0.2% | 295,191€ | No filing for 2024. | 196,675€ | 66.6% | 0 | — |
| 54 | Jam03461033 · Podgorica | 0.2% | 283,397€ | -7.8% | 220,851€ | 77.9% | 1 | 667€ |
| 55 | Leman Sea Properties03111407 · Kotor | 0.2% | 270,872€ | +1.5% | 70,818€ | 26.1% | 2 | 885€ |
| 56 | 28 Apartments Rentals03591409 · Podgorica | 0.2% | 264,813€ | +65.9% | 27,031€ | 10.2% | 3 | 1,906€ |
| 57 | Cobest Real Estate03670163 · Podgorica | 0.2% | 250,000€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 82,465€ | 33.0% | 1 | 771€ |
| 58 | Mykonut03166287 · Budva | 0.2% | 243,637€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 98,290€ | 40.3% | 4 | 945€ |
| 59 | Larakash Stroy03413918 · Budva | 0.2% | 232,764€ | -78.5% | 1,840€ | 0.8% | 1 | 795€ |
| 60 | PN Rent03384705 · Herceg Novi | 0.2% | 230,109€ | +90.5% | 13,497€ | 5.9% | 2 | 1,068€ |
| 61 | TDS Plus03365298 · Podgorica | 0.2% | 226,868€ | +176.4% | 107,608€ | 47.4% | 1 | 2,665€ |
| 62 | DFS Real Estate03137376 | 0.2% | 217,464€ | 0.0% | 71,736€ | 33.0% | 1 | — |
| 63 | Luxury Rental03372669 · Herceg Novi | 0.2% | 212,677€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 173,891€ | 81.8% | 1 | 790€ |
| 64 | Sunny MN03458016 · Herceg Novi | 0.2% | 211,500€ | -43.7% | 1,361€ | 0.6% | 1 | 928€ |
| 65 | Port Land02954982 · Tivat | 0.2% | 209,822€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 29,953€ | 14.3% | 1 | 675€ |
| 66 | Boundless Life Montenegro03661563 · Podgorica | 0.1% | 206,118€ | -15.8% | -853,148€ | -413.9% | 9 | 2,009€ |
| 67 | Gama Montenegro03196933 · Podgorica | 0.1% | 198,091€ | +48.4% | 153,806€ | 77.6% | 1 | 339€ |
| 68 | Tim Consulting03513653 · Podgorica | 0.1% | 195,782€ | +182.1% | 65,819€ | 33.6% | 1 | 4,668€ |
| 69 | Coast 1 Mne03152294 · Podgorica | 0.1% | 195,000€ | +6.2% | -655,405€ | -336.1% | 1 | 603€ |
| 70 | Venture M02992302 · Tivat | 0.1% | 194,839€ | +253.9% | -32,403€ | -16.6% | 1 | 678€ |
| 71 | Senergy03373797 · Budva | 0.1% | 192,153€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 68,845€ | 35.8% | 1 | 678€ |
| 72 | Ars Montenegro02891166 · Podgorica | 0.1% | 185,890€ | +2.1% | -147,259€ | -79.2% | 1 | 1,636€ |
| 73 | 2montenegro03130622 · Kotor | 0.1% | 185,812€ | +118.1% | 10,599€ | 5.7% | 1 | 3,705€ |
| 74 | New International Investment Project Limited Montenegro03276139 · Budva | 0.1% | 185,163€ | +3.2% | 41,399€ | 22.4% | 1 | 338€ |
| 75 | Novasol03634990 · Tivat | 0.1% | 184,701€ | +45.9% | 91,947€ | 49.8% | 2 | 908€ |
| 76 | Waz Porto03103021 · Tivat | 0.1% | 181,142€ | +293.0% | 34,931€ | 19.3% | 1 | 681€ |
| 77 | Handy Man Mne03653056 · Kotor | 0.1% | 178,468€ | +4,932.9% | -45,637€ | -25.6% | 2 | 786€ |
| 78 | Flow Ing03323498 · Tivat | 0.1% | 176,971€ | +595.4% | 63,327€ | 35.8% | 1 | 678€ |
| 79 | M.K. Invest02698951 · Podgorica | 0.1% | 176,017€ | -19.9% | 40,227€ | 22.9% | 3 | 643€ |
| 80 | Hijos03701808 · Budva | 0.1% | 171,360€ | +500.0% | 567€ | 0.3% | 1 | 2,937€ |
| 81 | Wave Montenegro03655229 · Bar | 0.1% | 163,476€ | +165.1% | 22,230€ | 13.6% | 1 | 903€ |
| 82 | Betco Montenegro03174026 · Podgorica | 0.1% | 157,238€ | +0.7% | -45,078€ | -28.7% | 1 | 338€ |
| 83 | Maris Re03103820 · Tivat | 0.1% | 150,173€ | -5.2% | -34,360€ | -22.9% | 1 | 339€ |
| 84 | An Investments03573664 · Tivat | 0.1% | 149,273€ | +217.6% | 98,447€ | 66.0% | 1 | 674€ |
| 85 | Adria Investment03240142 · Tuzi | 0.1% | 149,224€ | +149.3% | 20,918€ | 14.0% | 1 | 912€ |
| 86 | Roots Development03014410 · Podgorica | 0.1% | 149,153€ | +17.4% | 11,986€ | 8.0% | 1 | — |
| 87 | Nick & Mark03194884 · Ulcinj | 0.1% | 146,955€ | +8.8% | 8,305€ | 5.7% | 5 | — |
| 88 | Union Plus03458113 · Tivat | 0.1% | 143,296€ | +487.0% | -104,270€ | -72.8% | 1 | 929€ |
| 89 | Otrantkomerc02006731 · Podgorica | 0.1% | 140,801€ | +18.3% | -122,620€ | -87.1% | 9 | 890€ |
| 90 | Andrap03149633 · Tivat | 0.1% | 138,935€ | +3.8% | -80,818€ | -58.2% | 1 | 681€ |
| 91 | Agro-Bell03393950 · Tivat | 0.1% | 138,297€ | +2.6% | 35,157€ | 25.4% | 1 | 674€ |
| 92 | TQM03466710 · Herceg Novi | <0.1% | 136,990€ | +341.6% | 30,114€ | 22.0% | 2 | 1,052€ |
| 93 | Vertikal Mont03396177 · Budva | <0.1% | 131,052€ | -1.5% | -59,441€ | -45.4% | 3 | 810€ |
| 94 | V.I.D.02858037 · Budva | <0.1% | 128,656€ | -9.9% | 64,361€ | 50.0% | 1 | 1,111€ |
| 95 | Mihmat03507262 · Podgorica | <0.1% | 128,222€ | +327.4% | 47,931€ | 37.4% | 1 | 2,365€ |
| 96 | Black Cherry03202631 · Tivat | <0.1% | 125,895€ | +1.9% | -376€ | -0.3% | 1 | 880€ |
| 97 | White Homes Real Estate03489477 · Podgorica | <0.1% | 123,522€ | +34.5% | 24,290€ | 19.7% | 3 | 970€ |
| 98 | PM 1.2203031667 · Tivat | <0.1% | 120,138€ | +2.3% | 13,055€ | 10.9% | 1 | 680€ |
| 99 | Viola HB03664660 · Budva | <0.1% | 118,702€ | +384.3% | 17,447€ | 14.7% | 3 | 869€ |
| 100 | Montenegro Property Development03441776 · Podgorica | <0.1% | 118,493€ | +361.4% | 47,621€ | 40.2% | 4 | 1,063€ |