In 2019, the value of construction projects in Serbia increased by 35% compared to 2018.
In the real estate market, despite the ever-growing prices, sales are increasing and most buyers are looking to buy apartments in new buildings. Belgrade has become one of the most attractive locations in Europe to invest in the construction sector, reports Radio and Television of Serbia (RTS).
According to the media reports, there are 55,000 active construction sites in Serbia, four times more than in 2015. The World Bank has ranked Serbia among the top 10 countries in terms of speed of issuing of building permits in the last 5 years.
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Aleksandra Damnjanovic, the State Secretary at the Ministry of Construction, Transport and Infrastructure, says that the Ministry has adopted an investment plan which will be implemented by 2025. The plan stipulates that out of the 14 billion euro planned for the implementation of all state-run projects, 9 billion euro will be spent on transport infrastructure projects, which directly affects the increase in the number of facilities under construction.
The most expensive piece of real estate has been sold in the Belgrade Waterfront development, at the price of around €8,000 per square metre, while the average price of a square metre in the Serbian capital is approximately €3,000.
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