The purchase and sale of apartments in Belgrade is on the decline this year, while it is on the rise in other cities in Serbia, according to data from the Republic Geodetic Institute (RGZ).
"In the second quarter of 2024, the number of sales contracts increased significantly compared to the same period last year in Novi Sad (22,5 percent), Kragujevac (22,9 percent) and Niš (15,6 percent), while in Belgrade a slight decrease of 1,1 percent was recorded," RGZ points out.
A total of 2024 million euros was allocated for apartments in Belgrade in the second quarter of 555,6.
The most expensive apartment sold was 955.000 euros, with an area of 145 square meters and is located in the municipality of Savski venac, in the neighborhood of Belgrade on the water.
Real estate appraiser Milić Đoković tells "Vreme" that this drop in sales is negligible, but that the reason lies in current saturation.
"As far as Belgrade is concerned, we are somewhat saturated. In other words, suburban locations that gained importance were discovered. Surčin, Pančevo, Obrenovac, which have become very popular due to the development of infrastructure", says Đoković.
Expected reality - unattainable
The interlocutor of "Vremena" explains that Belgrade is full of small apartments, because the most requested apartments are two to three thousand euros per square meter.
"That is the expected reality. The average price in Belgrade should be between 2500 and 3000 for a new building and between 1500 and 2500 for an old building," Djokovic says.
However, the added limits have shifted.
"This is not a significant drop in traffic, in our conditions it is insignificant, but it is still some statistical data." There, Čačak appears as a good example where it sells well, Kragujevac, Niš, Novi Sad", says Đoković.
Market chaos
When it comes to investments outside of Belgrade, he notes that the market is quite spontaneous, and therefore there are no rules.
"You have Zlatibor where everyone has invested and now a good part of the apartments have not been sold. They made him an ecological disaster. One should be realistic, mildly optimistic when it comes to investing. I think that the future is in smaller projects, although the state often denies me, but it is also the biggest builder, which is not quite normal", says Đoković.
He notes that smaller projects of up to a few thousand square meters are needed all over Serbia, which is easier for investors to sell and for ordinary people to buy.
"We are on thin ice with large investments in Serbian cities. Again, everything will be sold in Belgrade. It is the target city for half of Europe when it comes to the position, so maybe you wait six months to a year, but everything will go", says Djokovic.
