How did the pandemic affect the real estate market in Serbia in 2022?

After the pandemic triggered a global economic crisis, the world economy faced new challenges in the first half of 2022. The escalation of the geopolitical situation, negative changes in the energy sector, and the steady rise in prices at the international level became the driving forces behind these challenges. All of these factors had a profound impact on the real estate sector in Serbia, where housing has always been viewed as one of the safest ways to invest capital.

Growing interest in real estate

In 2022, there was a significant increase in interest in the real estate market in Serbia, driven by an influx of foreign professionals and immigrants, which expanded the potential buyer audience. This has led to changes in pricing policies and increased demand. According to the latest reports from the National Geodetic Authority of Serbia, the total value of real estate transactions in the first half of 2022 amounted to €3.6 billion, showing a 25% increase compared to the same period the previous year. The number of transactions also rose by 4%, reaching a total of 68,000.

Areas with the largest deals

Vojvodina, an autonomous province with Novi Sad as its capital, recorded the highest number of transactions, while Belgrade took the second position. The last places were occupied by the regions of Šumadija and Western Serbia. The cost of housing in Belgrade remains the highest, indicating the city's ongoing appeal to buyers.

Apartment prices

Speaking of apartment prices, in the secondary housing market in the first half of 2022, the average cost was €1,260 per square meter, which is 19% higher than in the same period last year. In new residential complexes, the price per square meter reached €1,617, an increase of 11% compared to 2021. The highest rates are observed in Belgrade, especially in the Sava River area, where prices range from €2,615 to €9,545 per square meter.

Price statistics

We will present statistical data on apartment prices based on transactions carried out in the first half of 2022. We will provide information regarding the primary and secondary real estate sectors in various regions of the country, which will allow for an assessment of the current state of the market.

• The apartment price market in different parts of Serbia in the first half of 2022 shows a variety of price categories.
• Each area has its own average, minimum, and maximum prices for both new and secondary properties.

This reinforces the understanding of current trends in the real estate market and helps potential buyers explore price ranges in different regions of the country.

Real estate market dynamics

Thus, the real estate market situation in Serbia continues to evolve with quite a high dynamic, and the growing interest from both domestic and foreign buyers is driving up prices. The housing sector remains an attractive segment for many investors, making it promising for future development.

Overview of the real estate market in Serbia

In the areas where the real estate market is actively developing in Serbia, there are noticeable fluctuations in apartment prices. Even in the most central zones of Belgrade, you can find offers below €1,000 per square meter, while prices can exceed €9,000 per square meter.

Available areas for purchasing housing

The most affordable apartments in the Serbian capital are concentrated in areas such as Rakovica, Čukarica, and Voždovac. Meanwhile, in Stari Grad, housing prices are significantly higher. If your budget is limited, it’s worth looking at the secondary housing market, where you can find more attractive price offers.

Real estate prices in the regions

It is important to note that the average property prices in other regions of the country are much lower than in the capital. When applying for a residence permit, the price of the purchased property does not play such a significant role, making the purchase of real estate in Serbia a quite attractive alternative. More detailed information can be found in articles related to the visa regime and the process of obtaining a residence permit in this country.

Interesting offers in the market

At the present stage, you can find many attractive properties in Serbia. For example, in Belgrade, you can buy a 39-square-meter one-bedroom apartment with a bathroom for about €80,900.

Construction projects in the capital

Currently, a number of construction projects are actively underway in the capital, among which one interesting residential complex stands out. In Belgrade, there is a villa priced at €485,000. This luxurious property covers an area of 330 square meters and includes:

• 6 bedrooms
• 5 bathrooms
• Private swimming pool

The villa is located just 20 kilometers from Belgrade along the E75 highway, which makes it particularly attractive.

The villa's unique location

The uniqueness of this offer lies in its peaceful location:

• Just 200 meters from the Danube, creating a cozy atmosphere.
• A high concrete fence with green plantings enhances the feeling of seclusion and privacy.

In just 20 minutes, you can reach the center of Belgrade and the nearest airport, making this place especially attractive for comfortable living.

Conclusions

The wide variety of real estate in Serbia, from affordable apartments to luxurious villas, allows everyone to find a suitable option that meets their needs and financial capabilities. The rapidly developing housing market in the country opens new horizons for those looking to make profitable investments in real estate or simply acquire their own space in this beautiful country.

Apartment in Belgrade

In the capital of Serbia, the city of Belgrade, an apartment is on the market for 180,000 euros. The total area of this property reaches 65 square meters and includes four rooms, making it suitable for comfortable living. The apartment is located in New Belgrade, near the multifunctional center Novi Mercator and the church complex of Saint Great Martyr Dimitrius.

This sentence offers a harmonious blend of comfort and coziness, while also delighting the eye with picturesque landscapes outside the window.

Main characteristics of the apartment

• Spacious rooms provide enough space for all the inhabitants.

House in Bagremovo

In another offer, where the price is 10,000 euros, a house is being offered in the charming village of Bagremovo, located in the north of the country in the municipality of Bačka Topola. The area of this building is 72 square meters, it is constructed from clay and brick, and includes one large room and one small room, as well as a kitchen with a dining area and a bathroom.

This house is equipped with single-phase electricity and city water supply, and it is situated on a plot of land measuring 560 square meters. However, to use it, a new septic system will need to be installed, which will cost about the same as the house itself.

Apartment in Skadarlija

There is also an apartment for sale priced at 180,000 euros, covering an area of 50 square meters, located in the very center of the capital. It is situated in one of the most famous and picturesque neighborhoods — Skadarlija. The interior insulation of the apartment has already been completed, Norwegian radiators have been installed, and there is an inverter air conditioner, creating comfortable living conditions.

The windows face both sides, which provides the apartment with excellent lighting. The presence of a kitchen and other necessary rooms makes this offer particularly attractive.

Studio on Woodrow Wilson Boulevard

The next apartment, measuring 30 square meters, is offered for 220,000 euros and is located in the "Belgrade Waterfront" area on Woodrow Wilson Boulevard. This stylish studio on the sixth floor of an apartment building with an elevator is offered fully furnished and equipped with everything you need, including a terrace for relaxation.

This type of real estate generates high interest from both tenants and investors, making it a profitable investment.

Apartment in New Belgrade

Another apartment is up for sale in the center of New Belgrade for 330,000 euros, with an area of 79 square meters. It includes two bedrooms and two bathrooms, is fully furnished, and has a private terrace.

Such an object may interest those who are planning to apply for residency.

New apartment in Belgrade

There is also a new apartment on the market with an area of 60 square meters priced at 270,000 euros.

Apartment in Belgrade

An interesting apartment has appeared on the market in Belgrade, priced at €206,000. It is located on the sixth floor of a prestigious residential complex on Voivode Bojovic Boulevard in the Dorcol area. The apartment has an area of 36 m² and includes one cozy bedroom and a bathroom. Inside the apartment, there is...central heatingandair conditioning systemand all the necessary equipment and kitchen utensils are already included in the price.

Renovated apartment in Vračar

Among the available properties, there is also an apartment for 159,000 euros, fully renovated in the popular Vračar district, just a few minutes from the famous Saint Sava Cathedral. Although the stated area is 28 m², including the terrace, it reaches 35 m². This residence is located on a quiet street, offering the opportunity to enjoy life in one of the most sought-after areas of Belgrade. All finishes and utilities here are new, ensuring a high level of comfort and convenience.

Apartment for investment

The next option is an apartment with an area of 54 m², which is for sale at 270,000 euros. It is located in Belgrade and is ideal for rental. It is worth noting that a prestigious Expo exhibition is planned to be held in the country in 2027, which increases interest from investors. In Serbia, there is active construction of new residential complexes, which also attracts the attention of foreign entrepreneurs.

Apartment on the 15th floor

There is also an apartment for sale with an area of 49 m² for 170,000 euros, located on the 15th floor. This offer is notable for its convenient location near the Prokop train station, as well as supermarkets and Hyde Park. The renovation of this apartment was completed in 2024, during which all electrical wiring and plumbing systems were updated. It also features soundproofing and thermal insulation technologies, making living here more comfortable.

Cozy house in Krushevets

Additionally, there is a property available on the market in Krushevets, priced at 57,000 euros. This cozy house has an area of 110 m² and a land plot of 8 acres. The documents for the property are fully prepared, and there is an option for registration for foreigners, which allows for obtaining a temporary residence permit. The building consists of two floors with a terrace: the first floor is ready for occupancy, while the second floor has one room that needs renovation.

Two-room apartment in Dorchol.

Don't miss the opportunity to purchase a two-bedroom apartment in the Dorćol area for €163,800. This offer stands out due to its low utility costs and cozy atmosphere. Nearby, you will find:

• educational institutions
• kindergartens
• supermarkets
• parks

The apartment was renovated in 2018, and although its documented area is 46 m², the actual area reaches 48 m².

Apartment on Vladislav Bachevich Street

You can also consider the option for 120,000 euros on Vladislav Bachevich Street, where a two-room apartment with an area of 54 m² is offered. This property is located on a high first floor of a sturdy building and is well-suited for comfortable living.

Functional two-room apartment

Another interesting option is a functional two-room apartment for 180,000 euros, located in a quiet area. It consists of:

• hallway with a built-in wardrobe
• bedrooms
• bathroom
• dressing room
• open space, including the kitchen and living room

The total area is 73 m², with the possibility of free parking.

Luxurious apartment in the BW Quartet complex

And finally, a luxurious apartment is for sale for 360,000 euros in the modern residential complex BW Quartet. This property features two bedrooms and two bathrooms, and it has recently been completed and is ready for occupancy. Located in the heart of Belgrade, this residence is the perfect place for a comfortable and prestigious lifestyle.

Conclusion

In conclusion, analyzing the current state of the real estate market in Serbia in light of recent economic challenges, several key conclusions can be drawn. Despite global upheavals such as the pandemic and energy crises, Serbia is showing steady growth in its market. The resilient nature of real estate investments in the country indicates that housing remains not only important but also a reliable means of capital preservation for Serbians.

The growing interest from foreign buyers, combined with an increase in local demand, has led to a significant rise in real estate prices. We witnessed how the first half of 2022 showed an increase in sales volume.25%The average cost per square meter in both the secondary and primary markets continues to rise. This creates additional opportunities for investors looking to take advantage of the situation.

However, it is important to consider that with the emergence of new challenges, such as competition in certain market segments and regulatory changes, potential buyers should approach the home-buying process thoughtfully. Attention should be paid not only to price fluctuations but also to a comfortable location, taking into account the market that offers a variety of options both in large cities and in quieter regions of the country.

Factors influencing the real estate market:

• Global economic upheavals
• Increase in the number of foreign immigrants
• Changes in housing prices

In the future, considering the upcoming international events, such aseconomic exhibition Expo 2027In Belgrade, the market may experience additional pressure, which will create new opportunities for investors. It is important to monitor the market situation to respond to its changes in a timely manner.

Thus, although crises bring their own adjustments, the real estate market in Serbia remains dynamic and focused, and its development is under close scrutiny from both local and foreign investors. It is important to remember that when dealing with real estate issues, one must not only rely on current trends but also consider the prospects for long-term value and stability of investments.