REAL ESTATE MARKET IN SERBIA EXPERIENCES! The costliest sq. meter of an residence is as a lot as 10,000 EUROS!

The most expensive square meter of the apartment in the second quarter of 2021 was sold at the most attractive location, Belgrade on the Water, and it cost 9,721 euros, according to the latest report of the Republic Geodetic Authority.

It is a branded apartment in St. Regis, which is located in the “Belgrade” Tower, and it is characterized by elegance and sophisticated design.

Prices will not fall

Real estate prices in our country will certainly not fall, at least not in the foreseeable future
Kaca Lazarevic

The second residential complex in Belgrade with the highest prices per square meter was West 65 in New Belgrade, cheaper by as much as 5,000 euros and paid 4,733 euros. However, the average price per square meter of an apartment in the most attractive locations is 2,500 euros.

On the real estate market from April to June this year, a total of 1.6 billion euros was “reversed”, which is twice as much as in the same period last year. In the same period, the purchase and sale of residential buildings throughout Serbia jumped by an incredible 82 percent compared to last year.

The most expensive squares

* new building – 9,721 euros, Belgrade on the water
* old building – 4,615 euros, Vracar

Cash flats

According to the RGZ report, apartments were mostly bought for cash in as many as 85 percent of cases, while only 15 percent of citizens took out a real estate loan.

Land was paid the most for cash in 99 percent of cases, and most of the loans were used to buy business premises and garages …

Prices of the most expensive squares

Belgrade by municipalities:

Municipality New construction Old building

Old Town 3,471 3,784

Vracar 3,415 4,615

Savski venac 9,721 2,704

New Belgrade 3,858 3,083

Palilula 3,296 2,550

Zvezdara 2,845 2,667

Voždovac 2,737 2,171

Čukarica 2,732 2,220

Zemun 2,500 2,391

Rakovica 1,729 1,676

* prices are in euros per square meter

Experts emphasize that during the last three years, the real estate market in Serbia has experienced expansion and the highest growth since 2008. As they point out, low interest rates, changes in laws and legal construction, the city of Belgrade as a crossroads and the center of Southeast Europe, a large number of foreigners representative offices and the established opinion of citizens that investing in real estate is a safe investment. Despite the fact that the coronavirus crisis was expected to significantly affect the sale of apartments and houses, experts say that the decline was not so great.

Kaca Lazarevic, a real estate expert, does not expect apartment prices to fall.

The highest prices per square meter in residential complexes:

complex price

Belgrade on the water 9,721

West 65 4,733

Novi Dorcol 3,193

Wellport 2,891

K District 3,063

New Minel 2,506

Merin Hill 2,650

Leaders’ Gates 2,512

Green Residence 2,329

Zemun Gates 2,023

* prices are in euros per square meter

– It is not at all surprising that the price per square meter when we know that it is an exclusive settlement Belgrade on the water. I guess that apartment is located in Kula, and most likely on a high floor because we know that apartments there are the most expensive. They sell quickly, which means that there are definitely buyers in Serbia for such expensive real estate. What is clear is that real estate prices in our country will certainly not fall, at least not in the foreseeable future. A lot of walls are being built, especially in Belgrade, but that is why a lot is being sold. The market is always short of apartments, regardless of the fact that almost no more was built she said.

Cottages at prices

According to her, the turnover is higher than before the coronavirus epidemic. There is great interest in new construction, and less in old construction.

– In addition to Belgrade on the water, apartments in the settlements of West 65 and K district are also on the price – our interlocutor pointed out.

In Serbia, a higher turnover of cottages was recorded, mostly in Kragujevac and Nis, but also in Novi Sad and Belgrade. The sale and purchase of cottages in Serbia, compared to the second quarter of 2020, is higher by as much as eight percent, and the turnover of auxiliary facilities by 81 percent.

Prices per square meter by city – new construction

city ​​highest price average price

Belgrade 9,721 1,982

Novi Sad 2,295 1,347

Nis 1,400 990

Kragujevac 1,415 1,055

* prices are in euros per square meter

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