Square price falls in Europe, when in Serbia? RGZ expresses its opinion.

Global economic tensions have led to a slowdown in the real estate market in many European countries, while our market has shown signs of resilience to global trends in terms of the number of transactions, said Ivana Štrbac from the Republican Surveyor's Office (RSO).

12.05.2023 08:19 Comments 7 Photo: Mladen Šurjanac / Ringier.

"In many European countries such as Denmark, Norway, Germany, demand and the number of transactions and real estate prices have decreased, while our market has shown certain signs of resilience to global trends in the sense that the market has slowed down in terms of the number of transactions, but prices are still rising, we have seen this in the data of the RGZ index, which showed that apartment prices have increased by 13.6 percent, but this increase is not as big as in the last quarter, that is, the market slowdown refers to the fact that the number of transactions is less than in the same per

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She told Tanug Agency that the April data to be released for the second quarter confirms this, meaning that the number of transactions is still declining on a weekly basis, WGH reports. When asked whether this is the right time to buyreal estate or not, she said that in the last two years we have witnessed a real expansion in the real estate market, which is manifested in the rise in prices, the increase in the number of transactions, the value of money invested in real estate in Serbia.

"However, now we are seeing a slight flattening of the curve, that is, a slowing down of this market. Many experts advise citizens to invest or not to invest in real estate, and it's hard to say when the right time is. Basically, we can say that if you have money, buying real estate is not so bad, especially considering the peculiarities of our market, because citizens consider real estate a stable type of investment," she added.

Photo: Djordje Kojadinovic / Ringier

It is difficult to assess when the right moment to buyreal estate comes. Prices are not expected to come down.

"If you look at the number of building permits issued, it has now become more expensive for investors to borrow and invest in new properties, and we can expect a decrease in supply. In this regard, the supply-demand ratio may keep prices stable, given that prices are not expected to fall in the next quarter as in some Western countries," she added to Tanug agency.

She also noted that apartments were the most popular, followed by building plots, agricultural plots, houses and finally other properties.

"In the first quarter, the most expensive apartment sold for 2.6 million euros, the most expensive garage space sold for 58,400 euros, and the most expensive house sold on Savski Ventsu for just over one and a half million euros. "Source:

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