How are real estate prices changing in Europe and in Belgrade?

In Munich, one of the most popular cities in Germany, buyers of new buildings paid an average of 10,500 euros per square meter last year, while in the French capital Paris, one of the most romantic cities, the price was 13,000 euros.

Buying real estate is a real challenge for everyone, especially due to the prices that have fluctuated significantly in recent years, and in some countries, have even risen sharply. According to the latest data, in one of the European capitals, you now need to pay up to 13,000 euros for real estate, while in Belgrade, the prices are lower than these values.

In Munich, one of the most popular cities in Germany, buyers of new properties paid an average of 10,500 euros per square meter last year, while in the French capital, Paris, the price was 13,000 euros. London, Oslo, and Frankfurt are slightly cheaper, with an average price of 8,400 euros per square meter. In Amsterdam, a city that is becoming increasingly popular for living, the price per square meter is 7,600 euros, and in Copenhagen, it is 7,300 euros. In Hamburg, the sixth largest city in the European Union, buyers paid 6,900 euros, while in Berlin, it was 400 euros less, at 6,500 euros per square meter of living space.

On the other hand, Bulgaria is attracting more and more foreign investors and real estate buyers due to its affordability, natural beauty, and diverse opportunities. Therefore, in the Bulgarian cities of Varna and Burgas, real estate is the most affordable, where a new apartment can be purchased for an average of 900 euros per square meter.

What is the situation in Belgrade?

Data from the Republican Geodetic Authority (RGZ) regarding the real estate market for the third quarter of 2023 shows that the market in the Republic of Serbia continues to stabilize and decline after two years of sharp growth that followed the outbreak of the coronavirus pandemic. The city of Belgrade recorded the highest number of transactions - 6,316 sales.

Along with the real estate market report, the Republican Geodetic Authority also published the RGZ apartment price index for the third quarter, which stands at 157.03, reflecting a growth of 1.11% compared to the second quarter. The annual price growth rate remains high at 8.20% for the entire Republic of Serbia. The highest apartment prices were reached in Belgrade, where the most expensive square meter was sold for 9,475 euros in the Belgrade Waterfront area, while the largest amount spent on an apartment was 2,219,888 euros for a total area of 346 square meters in Savski Venac. The most expensive house was sold in the Stari Grad municipality (City of Belgrade) for 2,000,000 euros, and the most expensive parking space in the third quarter cost 48,000 euros. In the "secondary housing" segment, the annual price growth was 9.26%, while in the "new construction" segment, meaning purchases from investors, the price increase was 6.26%, according to data from the Republican Geodetic Authority. The share of the regulated market (transactions involving real estate not registered in the property cadastre) continues to grow compared to the same period last year, accounting for 32% of the total transaction volume in the third quarter.