Since the beginning of the year, apartment rental prices are on average lower by up to 30 percent, and demand has halved, according to real estate agents.
As Euronews Serbia writes, after the drastic increase in apartment prices in Serbia due to the arrival of the Russians, they are returning to normal.
However, this does not apply to everyone, because in addition to demand, prices are also influenced by the location and type of real estate.
A noticeable drop in demand for rental apartments since the beginning of the year has apparently calmed the market, as landlords had to lower rents in order to sell their properties.
However, they are still far above the level at which they were at the beginning of last year. Real estate agents believe that additional reductions in apartment rentals are possible.
Real estate agent Katarina Lazarevic told Euronews Serbia that small-squared apartments are still in short supply and that now, depending on the location, they are rented from 200 to a maximum of 400 euros, while that figure was 700 euros since the arrival of the Russians.
"Renting out small apartments now has a more normal price, 200 or 300 euros, depending on the location in Belgrade, 400 euros at most." With the Russians, they went up to 700. Two-room apartments of 50 square meters do not cost more than 400, a maximum of 500 euros, and large apartments have a more serious decline, they used to be two, three thousand, now they are from 1.200 to 1.500, and just luxurious 2.000 and 2.500 euros," said Lazarevic.
She believes that the question is whether apartment rental prices will remain at this level.
"There may be further downward corrections." The time that was there is no longer there, there is no golden period with the Russians," Lazarevic said.
Prices for renting apartments and houses in Belgrade, but also in other cities in Serbia, have started to fall, according to data from the real estate site 4zida.rs.
"In the coming period, no major price fluctuations are expected, and it is certain that 2022 will not repeat itself when it comes to rents," they estimate from this website.
In New Belgrade, at the beginning of the year, the rent cost about 475 euros, while now a studio apartment in the territory of this municipality can be rented for about 360 euros.
On Zvezdara, the average price dropped from 330 euros to 292 euros, and on Palilula, rent is about 20 euros cheaper compared to the first quarter - the average price of advertised studio apartments is now around 230 euros. In Voždovac, the average rent fell by around 50 euros - from 325 to 273 euros.
According to the data of the 4zida website, the biggest drop in one-room apartments was recorded in Palilula, because in the first three months of this year, landlords advertised them for an average of 350 euros, while now they are asking for around 300 euros for the monthly rental of this type of property.
BG/Euronews Serbia
Read daily news, analysis, commentary and interviews at www.vreme.com
