Real estate prices in Serbia are falling, while in Belgrade they are rising - Economy - Daily Journal Danas

In the second quarter of this year, apartment prices in Serbia slightly decreased compared to the beginning of the year and the same period last year. According to data from the National Corporation for Credit Insurance (NKOSK), the average price per square meter in Serbia by the end of June was 878 euros. However, in the center of Belgrade, the price per square meter in the second quarter was 1,171 euros, which is 50 euros or six percent higher than last year. At the same time, the average price across Serbia decreased by four percent. In Belgrade, prices range from 389 euros in Barajevo to 1,705 euros in Savski Venac or 1,631 euros in Stari Grad.

The demand for new construction, especially among young people, has led to a 47% increase in new buildings in the first quarter of this year compared to the same period last year. According to the owner of the real estate agency, Katsi Lazarevich, prices for new apartments rose by almost two percent in 2017, and this trend continues this year as well.

Moreover, agencies are emerging that are looking for owners willing to rent out apartments in the Belgrade waterfront area. And although apartment prices in Belgrade can exceed 5,000 euros per square meter, the cheapest square meter in the second quarter was in Bačka Petrovac, priced at just 134 euros. In many areas, mainly poorer ones, there were no sales transactions at all. In the second quarter, 1,999 apartments were sold, which is 234 more than in the first three months, but 181 fewer than in the same period last year. And while the volume of apartment sales has returned to the levels of late 2009 - early 2010, it is still far from the 4,500 apartments sold in some quarters of 2007-2008.

There is a trend of "cleansing" city areas in favor of investors, which threatens these neighborhoods and destroys green spaces, particularly noticeable in Vračar. Real estate prices in Belgrade continue to rise, attracting investors and clients from other countries.