An expected decline in April was recorded in the real estate sector, where 36.7% fewer building permits were issued relative to the same month of 2019.
The State Statistical Office (RZS) said that 1,016 building permits were granted in April.
The decline in the number of issued building permits is quite steep due to the pandemic. The Business Register Agency also recorded a one-third drop in the number of applications for building permits at the end of April. However, the overall data is not that bad.
“If we look at the period since the beginning of the year, i.e. the first four months of 2020, the total number of permits issued has increased by 4.1%,” say the RZS. Of the building permits issued in April, almost 70 per cent are for residential properties and just over 30 per cent for other types of buildings.
The structure of the buildings is dominated by residential buildings, 62.5%, while the highest number of permits for other types of buildings refers to pipelines, communication lines and power lines (72%).
Discover the most important foreign investments in Serbia in 2019: click here!
Looking at the April permits, the construction of 1,849 apartments was reported and the average apartment to be built spans just slightly over 70 square metres. More than 91% of the apartments will be in buildings that will contain three or more apartment units, which average size spans 60.9 square metres.
The estimated value of the works is 68.5% of the total value of a building (this applies to new buildings).
The biggest construction activity takes place in the Belgrade area, 26.2% of the total, followed by the Raska and Južnobačka areas.
The majority of developers, 78%, plan to postpone some construction projects, while only a small number, about 4%, will give up future projects. Just over a fifth of the developers do not plan to change their plans for the construction of new facilities.
Therefore, the new apartments will not be available on the market in 2020, and perhaps not even in 2021, and there will be no additional change in price.
This post is also available in: Italiano