Falling housing prices: expert Kurir's opinion on the cost of a square meter in Belgrade to 7000 euros.

The construction of new apartments is slowing because of fewer buyers, both because prices are too high and mortgages are not convenient. Despite the fact that real estate prices in Belgrade are overpriced compared to other European metropolises, the prices of new buildings are not expected to plummet due to rising land and labor costs, emphasizes Milica Petrovic, real estate advertising consultant at Sasomange.rs, in a conversation for Kurir. She explains that the reduction in construction is expected, but it will lead to a reduction in supply, and the price per square meter of new buildings will probably remain at the current level.

Belgrade is still the city with the most construction, but Novi Sad and its surroundings are not lagging behind. New projects are also registered in Kragujevac and Nišu, as well as in the mountains (Zlatibor, Kopaonik and Divcibare). Vrnjačka Banja, Srebrnovo Jezero and Sokobaњa are also attractive locations for local and foreign investors. In Zlatibor alone, about 50 projects that are in the planning or construction phase have been registered since the beginning of October this year, which in itself is exciting information, Petrovic notes.

She notes that the most construction is noticed throughout Serbia. - This is indicated by the number of building permits issued, which is significantly lower than the previous year. The volume of trade has already dropped significantly, and the number of building permits has fallen, investors are struggling to decide on new projects, and prices for old construction have started to fall," Petrovic says.

She emphasizes that in the capital, prices per square meter vary from 1,700 euros to 7,000 euros, depending on the location and quality of construction. - Novi Beograd is still one of the most attractive locations, as most of the business activity is concentrated here. Vrachar, one of the city's most popular neighborhoods, is also at the top due to a decrease in available land for construction. Of course, we should also not forget the right bank of the river - Belgrade on Vodi and Dorchol. Living in close proximity to the river is the dream of almost everyone who chooses Belgrade as their place of residence," says Petrovic.

She adds that Novi Sad has slightly lower prices per square meter. - The urban core is also not losing its appeal, but Novi Sad is slowly sinking towards the river, so big projects on the banks of the Danube are increasingly being mentioned.

She reveals that in less attractive locations and depending on the quality of construction, prices may be slightly below average. - Unfavorable mortgages also have a significant impact on prices per square meter, as fewer buyers decide to buy property on credit. Of course, throughout Serbia there are still projects designed for buyers for whom luxury is an essential factor, in very attractive locations, with a variety of additional amenities, and here the prices are significantly different from the average. Often such real estate is interesting as an investment. Taking into account current events and upward trends in the near future is not expected, but also a significant decline in prices per square meter on new buildings, - she notes. The biggest drop in prices per square meter this year, she says, was in Palilula at 7.7 percent. - A one-bedroom apartment in Paliluli can also be found for 70,000 euros, but such a price is most often due to the location, as the Palilula district stretches on the left and right banks of the Danube," she concludes.

• Location: Visњicka Baњa, Price: 1.790 m2
• Location: Zemun, Price: 1.650 m2
• Location: Vrachar, Price: 2.800-3.600 m2
• Location: Bataњica, Price: 1.550-1.650 m2
• Location: Zvezdara, Price: 2.400 m2
• Location: Novi Beograd, Price: 2.550 m2
• Location: Banovo brdo, Price: 3.800 m2
• Location: Ledine, Price: 2.225 m2
• Location: Vojdovac, Price: 2.500 m2
• Location: Lesztane, Grocka, Price: 1.050 m2