Foreigners ravage Serbian stores: In Belgrade, everything that is created is instantly sold out. A look at what shoppers pay the most attention to.

Photo: Marina Lopičić / Illustration

The latest data shows that Belgrade is the largest real estate market in Serbia. In the final quarter of last year, there were about 2,500 new construction sales and about 2,300 older apartments. Experts believe that good projects will continue to sell despite the fact that the number of loan buyers is declining as loans are expensive and interest is high. Apartments are bought mainly as investments, in cash by foreigners or our compatriots from the diaspora.

The buyers are more interested in new buildings, especially popular are apartments in buildings with a garage. According to official data, the real estate price index had a similar rising trend as in regional countries such as Croatia, Slovenia or Bulgaria. Forecasts for this year indicate that there will be no further growth in older construction, while growth in new construction will continue, although not at the same rate as in the past two years.

The real estate experts say that the current prices in the capital are completely realistic, because Belgrade is the center of the Balkans and everyone wants to go to the capital. This is its advantage, and consequently, we can expect that in the future real estate rents and prices per square meter will be the same as in all major European metropolises - high. Rental property prices in Serbia have continued to rise over the past year. As a large number of Russian citizens moved to our country during this period, demand increased and prices jumped not only in the central areas of cities, but also on the outskirts. Rents have been flat since the beginning of the year, even starting to decline, but real estate experts say it's too early to make serious predictions and announce how things will develop in the future. The apartments on Sava Venice, in Vrachara, on Palili and beyond are still very well rented. There is a market, and no reason to expect rents to fall.