Property prices in Serbia have risen by around 20% in the last two years

According to official data, real estate prices in Serbia have increased by about 20% in the last two years.

The jump in prices was first recorded in the big cities but is now also noticeable in smaller towns. This is conditioned by the increase in demand and the changes brought by the pandemic on the world market.

One-bedroom flats and studios are the most sought-after, although there are not enough of them on the real estate market.

The limited budget forces buyers to look mainly for flats worth up to 70,000 euros. Apartments up to 50 square metres are the most popular, and due to limited availability, studios of around 20 square metres are also in demand.

In Belgrade, flats are most in demand are located in Novi Beograd, Mirijevo, Zvezdara and Banovo Brdo.

Real estate agent Milić Djoković says that the most sought-after flats cost up to 70,000 euros, and when it comes to size, one-bedroom flats, of around 50 square metres in size, are in hot demand.

As Mr Djoković points out, for 70,000 euros a person can buy a 25-square-metre flat in an extra location in Belgrade, while for the same amount they can buy a flat of 45-50 square metres in other towns.

He also points out that some areas of Belgrade have become quite popular in recent years, such as Ledine and Mirijevo.

Back in the day, Mirijevo was too far away for some people, but now, it has a population of 100,000 and complete infrastructure, while a subway line was also supposed to pass through it. Mirijevo also has schools, gyms, churches, a health centre and everything a small town should have, says Milić Djoković for Nova.

Real estate agent Katarina Lazarević points out that there aren’t enough small flats on the real estate market and that they are the most in demand. People who do not have a lot of money are mostly looking for flats of between 30 to 50 square metres in size, although the best-selling ones range from 75 to 100 square metres.

“Small flats are expensive. There is a 22-square-metre flat near Karadjordjev Park for sale at 60,000 euros. I think that is a huge amount of money for such a small flat. With that amount of money, you can buy a two-bedroom flat in the suburbs,” says Ms Lazarević.

(Nova, 25.10.2021)

This post is also available in: Italiano

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