Sitemap

Real Estate Market In Serbia Worth Two Billion Euros

CorD Recommends

European Parliament Members Endorse Western Balkan Reform and Growth Instrument

Members of the European Parliament's committees on...

US Leads Global Oil Production for the Sixth Consecutive Year

The United States has maintained its position...

Putin Wins Russian Election Decisively

Presidential candidate Vladimir Putin has won 87.26 percent of the vote based on 60 percent of the ballots counted,...

Vaughan Gething to Become First Black Welsh Premier and First Black Leader in Europe

Vaughan Gething is set to make history as the first black Premier of Wales following his victory in the...

New ENEF II Fund to Propel Growth in Western Balkans

The European Bank for Reconstruction and Development (EBRD) has announced the introduction of the Enterprise Expansion Fund II (ENEF...

European Parliament Passes Groundbreaking AI Law

The European Parliament has adopted the Artificial Intelligence (AI) Act, aiming to safeguard fundamental rights, democracy, the rule of...

Mariya Gabriel Endorses Horizon Europe’s Widening Measures to Bridge Research Gap Ahead of Bulgarian Premiership

Mariya Gabriel, set to ascend to Bulgaria's prime ministerial role in March, champions Horizon Europe's Widening measures as a...

This year, real estate turnover increased by one percent compared to 2021, and the total value of transactions in Serbia reached two billion euros, said Ivana Štrbac, head of the Department for Real Estate Valuation Management at the Republic Geodetic Institute (RGZ).

In an interview with Tanjug, Strbac mentioned that the purchase of real estate from loans has decreased, so that 88 percent of turnover is paid in cash and that buyers are more cautious when taking out housing loans, due to the increase in interest rates.

“It is interesting that, compared to last year, there was a slight decrease in the purchase of apartments on credit, because in previous years about 30 percent were paid from loans, and this year 27 percent of apartments were purchased on credit,” Štrbac said.

She added that real estate is getting more expensive, but despite that, the amount of money in real estate transactions has increased as well as increased demand for real estate in Serbia.

“The European Committee for the Assessment of Systematic Risk stated in its report as an explanation for the constant demand for real estate and the rise in its prices that people are afraid of inflation and think that their money will be safer if they buy some real estate, so a drastic drop in demand for real estate is not expected”, stated Strbac.

Novi Sad

According to RGZ data, compared to last year, real estate turnover increased the most in Kragujevac by 7.5 percent, then in Belgrade by 4.5 percent and in Novi Sad by three percent.

Štrbac stated that the most purchased are apartments, construction land, houses, agricultural land, and garage and office space. She also stated that the most expensive square meter of living space was paid for an apartment of 97 square meters in a tower in Belgrade on the water, and it cost 9,545 euros, and the most expensive apartment sold in the same neighborhood with an area of ​​163 square meters was paid close to 1.4 million euros.

Read more...

Belgrade Gets New Protected Sites

The Secretariat for Environmental Protection has announced that the process of placing under protection two new sites in Belgrade, the landscape of exceptional features...

New Symbol Of Office Space In Belgrade – Skyline AFI Tower – Reaches Its Full Height

With the construction of the last, 31st floor, Belgrade’s Skyline AFI Tower has reached its full height. Works are now underway on the stage...

The most expensive house, worth 2.9 million euros, was sold in the Belgrade municipality of Stari grad, a business area of ​​3,183 square meters was paid for 10.2 million euros, and the most expensive garage was sold in Kopaonik for 42,000 euros.

Related Articles

Kushner Eyes Balkan Luxury Developments in Serbia and Albania

Jared Kushner, closely related to former U.S. President Donald Trump as his son-in-law, is turning his attention to the Balkans with plans for upscale...

The 71st Edition of the Martovski Festival –  Belgrade Documentary and Short Film Festival

The 71st Edition of the Martovski Festival -  Belgrade Documentary and Short Film Festival, a permanent event of cultural importance for the City of...

Montenegro’s FDI Takes a Hit but Real Estate Grows

Montenegro saw a significant decrease in foreign direct investment (FDI) in 2023, with net inflows dropping 45.23% to €428.67 million, according to the Central...

Serbia Poised to Drive Regional Growth, Says German Ambassador

Germany's Ambassador to Belgrade, Anke Konrad, has expressed optimism about Serbia's capacity for accelerated progress towards European Union membership, suggesting the nation could become...

United Front on Energy and Environment: Balkan Ministers Pledge Cooperation

In a landmark summit, the energy and mining ministers of Montenegro, the Republic of Srpska, and Serbia united to deliberate on ways to enhance...

Hydroelectric Development on Drina: Serbia, Srpska Sign Key Agreement

Serbia and the Republic of Srpska have taken a notable step in regional energy development by signing an agreement through the Electric Power Company...

Balkan Borders Blur as Free Labor Movement Pact Launches

Marking a significant shift in the labor markets of Southeast Europe, Serbia, Albania, and North Macedonia have forged an essential agreement, coming into effect...

Southeast Europe Unites in Support for Ukraine at Tirana Summit

In a striking demonstration of unity from Tirana, Southeast European leaders, together with Ukraine's President Volodymyr Zelenski, have collectively declared their support for Ukraine's...