The prices in the real estate market of Serbia continue to rise: the first analysis of market trends for 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.

This morning 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 at this time of year. The average price per square meter has reached 2352 euros, representing an increase compared to the end of 2024. The number of contracts signed in Belgrade in the first months of 2024 amounted to 2078.

Prices continue to rise: current market situation

At the moment, with data from the past two and a half months, the majority of concluded deals pertain to the secondary housing market (58%). Nevertheless, prices continue to rise, which may be due to the small volume of transactions, further encouraging sellers to increase prices. Alternatively, they might be preparing for the spring period, when, based on historical data, an increase in sales is expected.

Rent flat in Belgrade 559,00 $

Serbia,Belgrade

3 Bedrooms

2 Bathrooms

84 м²

Rent flat in Belgrade 894,00 $

Serbia,Belgrade

2 Bedrooms

1 Bathroom

35 м²

Rent flat in Belgrade 223,00 $

Serbia,Belgrade

5 Bedrooms

2 Bathrooms

140 м²

Rent flat in Belgrade 895,00 $

Serbia,Belgrade

3 Bedrooms

2 Bathrooms

86 м²

Sale flat in Belgrade 128 796,00 $

Serbia,Belgrade

2 Bedrooms

1 Bathroom

45 м²

Rent flat in Belgrade 783,00 $

Serbia,Belgrade

3 Bedrooms

2 Bathrooms

84 м²

The average price per square meter in Belgrade currently stands at 2,353 euros per square meter, which is an increase of almost 3% compared to the previous period.

The most in-demand apartments: demand analysis

The most sought-after apartments in Belgrade are around 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 those who prefer new builds, the price would be slightly higher, around 173,536 euros, while for good secondary housing, you would need to allocate about 123,771 euros.

Transaction volumes and forecasts: what to expect in the future

The total volume of real estate transactions in this period is 297 million euros. Nevertheless, we are waiting for data until the end of March to see if the slight upward trend in February will continue. We hope that there will be changes in the near future, especially in terms of prices per square meter, which may additionally have a positive impact on the dynamics of the real estate market in Belgrade. And on us, the buyers.