In Belgrade, rental prices for commercial and residential spaces have been dropping, except in shopping malls and luxury buildings, while apartment prices remain unchanged.
Kaća Lazarević, the owner of a real estate agency, says that large multinational companies and banks can still afford the luxury of paying for expensive commercial spaces, while small street shops are empty and owners are moving in search of cheaper locations.
“The rental prices of space in luxury shopping malls are not decreasing, while those for smaller premises are decreasing, but there are still people who want to invest in buying stores and renting them for fast food establishments,” said Lazarević and added that there is a great demand for gambling facilities and that, if the location is good, potential tenants “do not even care about the price”.
“Soon, Belgrade will be full of pharmacies, labs and gambling facilities,” she said.
According to her, the sales prices of apartments in new buildings are not decreasing. On the contrary, it more expensive and luxurious apartments are a quick sell.
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“Recently, we have easily sold apartments in Vračar at the price of 3,600 EUR per sqm than cheaper apartments in other parts of the city. A lot of construction activity is going on in Lekino Brdo where the apartment prices range from 1,850 to 2,250 EUR per square metre,” Lazarević says and adds that apartments with garages are particularly popular and that it is difficult to sell an apartment in Vračar in an old building if it doesn’t come with a parking space.
According to her, garages are sold, depending on the location, from 15,000 to 30,000 EUR, and the price can even go up to 50,000 EUR.
This post is also available in: Italiano