The land in Serbia costs €2.6 million, while the house is €4.8 million! New RGZ report: The square exceeds 11.00.

In 2023, 6.5 billion euros were spent on real estate purchases in Serbia, which represents a 57.8 percent increase compared to 2019, before the COVID-19 pandemic began. This was reported today by the Republic Geodetic Institute (RGZ). This amount is 13 percent lower than the record set in 2022. This year, 121,627 transactions were conducted in the real estate market, which is a 15.7 percent increase compared to 2019.

Regional distribution of transactions

Regionally, the highest number of transactions was recorded in Vojvodina, accounting for 33 percent of all real estate operations, followed by Šumadija and Western Serbia with 27 percent, and Belgrade with 23 percent.

The cost of apartments accounts for the largest share of the total trading volume, making up 26 percent of all transactions, followed by:

• Agricultural land - 17 percent
• Construction sites - 16 percent
• At home - 13 percent

Deals in Belgrade

The highest number of contracts in 2023 was signed within the jurisdiction of the First Basic Court of Belgrade, where 10,253 transactions were registered, and it is here that the highest amount of real estate transactions was recorded — approximately 1.7 billion euros.

In the capital of Serbia, the invested funds in real estate amounted to 3.2 billion euros. Belgrade also shows the largest share in the total volume of apartment sales — 61 percent. Additionally, it holds a leading position in terms of value:

• Sales of garage spaces - 74 percent
• Office space - 53 percent
• Commercial properties - 51 percent
• Land plots - 36 percent

Financing and loans

According to the collected data from sales contracts, in 20237 percentAll real estate properties were purchased using loans, with the largest share being...17 percentAll the apartments in the country were paid for with bank loans.

Real estate market and records

The highest apartment prices were recorded in Belgrade, where the most expensive apartment, measuring 383 square meters, was sold in the Savski Venac area, in the "Belgrade Waterfront" complex for2,601,888 eurosThe record price per square meter in this project reached the mark11,475 eurosThe most expensive house was sold in the Savsky Venets for4,802,000 euros.

A record price for office spaces has been set in Novi Pazar, where the square meter is valued at23.375 eurosand the maximum cost of commercial real estate amounted to7,820,000 euroscovering 7,551 square meters in the Belgrade district of Palić.

Among the garages, special attention is drawn to the sale of the most expensive parking space for63,000 euros...implemented in the Belgrade district of Stari Grad. The highest price per square meter of agricultural land was also recorded in Kača —76 eurosfor a plot of land measuring 1.97 hectares. As for the most expensive agricultural land in Serbia in 2023, it was sold in the Vrbas district for a price3.5 million eurosfor 249 hectares.