Russians are increasingly choosing apartments in Serbia: these places are the most desirable.

real estateinSerbiaespecially inBelgradeand Novy Sad. Data from the Republican Geodetic Department (RGZ) indicate an almost doubling of the share of foreign citizens in the purchase ofreal estateinSerbiawithin one year. Share of foreign citizens buyingreal estateinSerbiaThe demand growth rate of the market has increased from 2.93 percent in 2022 to 4.81 percent in 2023. Although the majority of the market is still made up of local buyers, the dynamics of supply and demand are influenced by foreign investors, who mainly prefer to buyapartmentsin the Old City, Vrachar, Sheba's Crown and the New CityBelgrade.

“In recent years, Russian citizens have become the main tenants of theapartmentsand commercial space, but now they are increasingly deciding to buy. They start a lot of companies, which they then buyreal estate. Ukrainians are also among the buyers, with the largest number of investors from the European Union coming from theFranceand Germany.”- stated Nela Pesic ofagencies“Raičević nekretnine”.

According to her, among the buyers are also citizens of the United States of America, Canada and Australia, while the most interested from neighboring countries come from Northern Macedonia. The greatest interest in buyingapartmentsespecially luxury new buildings inBelgradeamong buyers from countries with a higher standard of living. Behind the oldapartmentsat peripheral locationsBelgradebuyers with smaller budgets are interested.

“Russian citizens have different standards, so their interests range from peripheral urban locations and smallapartmentsto modern, luxurious and spaciousapartmentsin the central and most expensive seats inBelgrade”,- adds Nela Pesic. The interlocutor notes that Russians and Ukrainians are also interested inhousesbeyondBelgradeShe adds that foreign investors are more likely to invest in the villages, which are about an hour's drive from the city. She adds that foreign investors are the mostlooking for apartmentsexcept for citizens of Northern Macedonia, who buyhouseswith the intention of an extension. It is noticeable, emphasizes Nela Pešić, that Hungarians who are interested in buying building plots are also entering the local market.