Real estate prices are rising in Serbia: market analysis results for early 2024!

The real estate market analysis in Belgrade for the first quarter of 2024 shows a new high price level per square meter, along with a slight decrease in the number of contracts signed. Market stagnation amid rising prices could have a significant impact on the real estate sector in Belgrade.

The real estate market in Belgrade

The real estate market in our capital is showing signs of slight growth at the beginning of 2024, which is not surprising given the seasonal factors affecting real estate trading during this time of year. The average price per square meter has reached 2,352 euros, indicating an increase compared to the end of 2024. The number of contracts signed in Belgrade amounted to 2,078 during part of March. Prices continue to rise: the situation in the market.

Structure of deals in Belgrade

At the moment, with two and a half months of data, the majority of concluded contracts relate to secondary housing (58%). Nevertheless, prices continue to rise, which may be due to the low volume of trade, which further encourages sellers to increase prices. Or they are ready for the spring period, when, according to historical data, sales are expected to increase.

The most sought-after apartments

The most sought-after apartments in Belgrade are those with an area of about 60 square meters, with the average price of an apartment during this period exceeding 140,000 euros. If you were to buy an apartment in the first two and a half months of 2024, the average price would be 145,057 euros. For fans of new builds, the price would be slightly higher, around 173,536 euros, while for quality secondary real estate, you would need to allocate about 123,771 euros.

Predictions for the future

The total volume of real estate transactions during this period amounts to 297 million euros. However, we are waiting for data until the end of March to see if the slight upward trend in February will continue. We hope for changes in the near future, especially regarding the price per square meter, which could further positively impact the dynamics of the real estate market in Belgrade. And on us, the buyers.