Although the mass migration of Russians and Ukrainians to Serbia has completely disrupted the real estate market and significantly increased both real estate rental and sale prices, some things have remained the same.
Belgrade is still the undisputed leader when it comes to apartment prices. The most expensive piece of real estate was sold in Belgrade for the price of 10,400 euros per square metre. The average price of an apartment in an older building in Belgrade was 1,863 euros per square metre.
Based on the data collected by the State Geodetic Institute (RGZ), in the period from July to September, the cheapest apartment in an older building was sold for 400 euros per square metre and the most expensive for as much as 5,195 euros.
In terms of apartments in new buildings, the average price per square metre was 2,285 euros, the minimum was 625, and the maximum was 10,400 euros, which, as already stated, was also the most expensive real estate sold in Serbia in the third quarter.
If we compare how the average prices of square metres fluctuated in the same period in previous years, there is a noticeable growth. For example, in 2019, the average price of apartments in older buildings in Belgrade was 1,290 euros per sqm, and in new buildings 1,610 euros per sqm.
How did other towns in Serbia fare in regard to apartment prices?
Apartments in Novi Sad are traditionally cheaper than those in Belgrade. Thus, the average price of an apartment in an old building was 1,745 euros per square metre, the cheapest 220 euros per sqm and the most expensive 3,300 euros per sqm.
As for apartments in new buildings, the average price was 1,592 euros per sqm, the minimum price was 510 euros per sqm, and the maximum price was 3,300 euros.
Real estate prices in Niš are quite a bit lower than in Belgrade and Novi Sad.
The average price of an apartment in an old building in this city was 1,110 euros per sqm, the cheapest was only 175 euros per sqm, and the most expensive 1,938 euros per sqm, in the period from July to September this year.
In the case of newly built apartments, the average price per square metre was 1,177 euros, the lowest was 532 euros and the highest 1,965 euros.
The average price per square metre in older residential buildings was 885 euros, the lowest 318 euros and the highest 1,620 euros.
In regard to newly built apartments, the average price (per sqm) was 1,193 euros, the cheapest apartment was sold for 663 euros per sqm, while the most expensive for 1,705 euros per sqm.
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