Sale of land plots: Soon like in Disneyland

Investors building thousands of square meters at once aim to sell as many residential and commercial properties in these complexes in advance, which is why glamorous promotional events are held for this purpose. They serve to showcase the wealth and power of the investors, as well as to send a message to the buyer that they themselves are part of the elite.

The mass sale of apartments is turning into Disneyland, writes "Business and Finance," and in order for one buyer to "multiply" in the long term, they will buy properties from the same investor as their relatives, friends, and children when they grow up.

However, glamour does not imply that the final price per square meter for the construction of the property is clearly stated in the offer. For the new residential and commercial complex in Slavia Square, not even the foundation pit has been dug yet, but promotion and sales are already in full swing.

Advertising and promotion

And this is not just for show, but a major event for the invited guests at the White Palace, featuring light effects of fire, water, and lava, a 3D presentation of the future complex, and finally, a concert by Zdravko Čolić. There were also promotional texts in the media emphasizing that this residential area will bring "the spirit of Paris and New York to Belgrade," "a new concept of living, luxurious, comfortable, functional, simultaneously in the city center and hidden from the urban hustle," as well as "contributing to strengthening Belgrade's position as a modern global capital."

A similar story about real estate that changes lives and brings happiness and prosperity is used by the construction project "Belgrade Waterfront," which has practically started selling "invisible square meters" in this way. Today, most of the residential complex is built, and everyone can see what the elite buildings and surrounding infrastructure look like, but despite this, those selling these apartments do not hold back on their praise.

Real estate selection

They claim that this is a "fairy-tale environment that offers all the opportunities for quality leisure with family and friends," and moreover, "a monumental urban revitalization project that creates a new urban core and a new international tourist attraction." According to real estate agents, you can become part of an "exclusive community" by purchasing an apartment in the recently started construction complex, "Sava Residence" in Vojvodina.

What sets the future residential area apart from the others even now is its unusual advertising, which highlights the main advantage of this "ideal family home and investment opportunity" as an even more ideal location - right across from the Special Court.

Price and sales features

No matter how they promote their uniqueness, all the examples provided share the same sales approach. The price per square meter is not clearly stated anywhere, and potential buyers must send an email, register, provide personal information, and wait for the agent responsible for the sale to contact them. Additionally, everyone offers installment payments for the property, depending on the construction stages, charges a "reservation" fee that only decreases in the final payment, and mostly all the apartments currently being sold will not be ready for occupancy until 2026. This concept of construction and sales has already "proven itself" in the West and is now slowly coming to us, says Nedeiko Malinovich, director of the real estateagency "Legat," adding: - This concept of living, where everything is in one place, from parks to shops, with security at every entrance, gives people a sense of safety.

I think young people love buying apartments that are located here. Malinovich, who has been in real estate for almost a quarter of a century, notes that good advertising has a significant impact on sales, and buyers sometimes pay more attention to the location of the property than to the quality of the materials.

From years of experience, he knows that the "final word" in choosing real estate always belongs to a woman, and that if the bathroom is beautiful, renovated, or at least "upgraded," such properties sell faster. Additionally, the entrance to the building itself can sometimes be a decisive factor.

- I found a great apartment for one of our famous football players. When I sent him photos and videos of the apartment, he was thrilled. However, upon seeing the entrance to the building, he didn't even want to look at the apartment and immediately declined the purchase. I also noticed that young buyers prefer new buildings. They reason that older buildings require more maintenance, and for new ones, they hope that at least for 20 years they won't have to do major repairs, - explains Malinovich, who does not hide the fact that he is not a supporter of buying apartments in buildings under construction.

Mass sale and the philosophy of investors

According to him, problems always arise in such situations, especially if the investor is an individual or a small firm.

Although it may seem that the sale of apartments in luxury residential complexes under construction is going smoothly and everything is sold out even before the first pile is driven into the ground, the reality is somewhat different, say long-time experts in the real estate market in Serbia.

It was the need to sell a large number of square meters as quickly as possible that led to a new way of promoting real estate, glamorous events with music stars, so-called "sales days," small gifts with purchases, and viewing future apartments in 3D format while enjoying a cup of coffee and a glass of wine.

- The buying and selling of real estate hasn't changed significantly; it's just that investors have emerged who immediately build thousands of square meters, which requires a different sales approach. They have partially adopted this from the West. These investors do not sell apartments through small agencies but hire one large agency that usually works exclusively for them. They sign standard sales contracts, and I can say that all of this is mass selling, although it is presented as luxury, - says Katsa Lazarevich, the owner of the eponymous real estate agency that has been operating in this field for over three decades, in an interview with "Business and Finance."

According to her experience, the most common buyers of such real estate are the "political establishment," show business stars, and our people living and earning abroad.

- Large, glamorous events organized to announce the construction of a residential complex serve to showcase the power and wealth of these investors. But they also aim to please buyers who can afford to pay for these expensive square meters and buy them specifically from them, rather than from someone else. So, in order to attract buyers, concludes Lazarevich.

Another opinion is expressed by Miroslav Tsvetkovich, the director of the real estateagency "Tsvetkovich-Roshkov," which is now part of the "Keller Williams" group.

- I think that some of the major investors have brought a new philosophy to business. Now we don't just sell apartments, but also a lifestyle. We are practically creating a need. And clients have become more demanding. Those who have the money to pay a higher price per square meter in a certain complex don't want to look for a parking space or shovel snow. They want a comfortable life, where, among other things, they can walk out of a warm garage and return to another one - emphasizes Tsvetkovich for "Business and Finance".

According to him, the housing philosophy of large investors is aimed at creating lifelong relationships with clients rather than just focusing on a single property. In other words, it is important to secure buyers for future developments as well. For example, if the buyers are a married couple with children, the investor seeks to attract their relatives, friends, and of course, their children when they grow up and it's time to move.

“Real estate business is long-term. That’s why it’s important to make it a Disneyland – so that the client comes back, buys a ticket, and brings everyone they know,” emphasizes Tsvetkovich.