Decline in FDI: Most funds still flowing into real estate

Preliminary data from the Central Bank of Montenegro shows that net foreign direct investment (FDI) inflows in January 2026 totalled €19.53m, down 10.48% compared to the same month last year. Total inflows reached €48.21m, a 14.41% decline year-on-year.

Equity investments made up the majority (68.62%), with €33.08m invested. Of this, €6.2m went into companies and banks (down 23.89%), while real estate attracted €26.88m, also declining but still dominating the structure. Intercompany debt accounted for €14.99m (31.08% of inflows), while other investments were negligible.

At the same time, total FDI outflows fell 16.89% to €28.68m. This included €8.03m invested abroad by residents and €20.65m withdrawn by foreign investors.

Overall, real estate remains the leading destination for foreign investment despite the decline in total inflows.