What does the real estate market statistics in Serbia say?

A group of real estate intermediaries in Serbia, which is the largest group in the Serbian Chamber of Commerce, has presented trends in the real estate market and stated that buyers and sellers need to be educated on how to work through registered agencies to protect themselves during the buying and selling process.

The real estate market in Serbia, especially in Belgrade, has been in an expansion phase over the past two and a half years. Since 2016, the sale and purchase of apartments have increased by 35 percent, with about 21 percent of the turnover coming from apartments bought on credit. Apartment prices in the first quarter of 2019 have stagnated without any clear signs of growth.

The most expensive apartments are located in Belgrade, averaging around 1,600 euros per square meter, where 50 percent of the apartments in the Republic of Serbia are sold. Last year, there was a price increase in all areas of Belgrade, with the highest in the Novi Belgrade area at 15.79 percent compared to 2017. This can be partly explained by the high demand for apartments in new developments, as well as the largest number of newly built apartments in Novi Belgrade.