Growth of young people buying real estate in Serbia - new data from RGZ

In Serbia, a new era is beginning in the housing market when it comes to the age structure of buyers. According to the latest data from the Republic Survey Office, there has been an impressive increase in the share of apartment buyers under the age of 30 in the total number of transactions, signaling a strong turnaround in the real estate world.

In the first half of 2023, even 15.2% of all real estate transactions were made by young buyers between the ages of 18 and 30, according to the Republic Surveyor's Office. This figure is significant compared to the previous year's data, when this category of buyers accounted for 13.6% of the market, especially when compared to 2019, when the share of young buyers was only 7.9%. It is clear that young people are increasingly focused on realizing their housing dreams.

It is interesting to note that the age structure of buyers is also changing. The average age of an apartment buyer in Serbia is getting younger, now standing at 45 in 2023, compared to 46 in 2022 and even 49 in 2018. Young people with their energy and ambition are becoming a force shaping the Serbian real estate market.

At the same time, analysis of the age distribution shows that real estate is most often bought by people between 31 and 45 years old (40%), while the group between 46 and 60 years old and over 60 years old occupy 27.7% and 17.1% of the market, respectively.

The rise of young buyers on the Serbian housing horizon is in line with the global trend. According to the National Real Estate Association's 2022 report, young buyers accounted for 20 percent of buyers in the United States. At the same time, Serbia is steadily following this path, showing that young people have a key role in shaping the future not only of their homes, but of society as a whole. This dynamic trend offers many opportunities and challenges for both buyers and the real estate market. New generations bring with them new preferences, technological awareness and a desire for modern lifestyles, which is certainly driving innovation in the real estate sector. (Source: RGZ)