The most expensive apartment in Serbia is €2.6 million! Square meter in Belgrade almost 11,500: RGZ released a new report: More than €1.6 billion spent on real estate in the first quarter.

The most expensive square property in Serbia in the first quarter of this year was sold in Belgrade on the river at a price of 11,474 euros per square meter, the Republican Geodesic Service reported today.

In fact, the most expensive apartment of 383 square meters was sold for 2.6 million euros, and according to RGZ, not all apartments on the Belgrade River are among the most expensive, and in the first quarter on this prestigious location the lowest price per square meter was 3,264 euros.

The real estate market in Serbia is stabilizing in the first quarter of 2023, and according to RGZ data, the total amount of money that was in circulation in real estate increased, despite a decrease in the number of transactions.

In Belgrade, 15.4 million euros more was spent on real estate in the first quarter of 2023 than at the same time last year, which means that the amount of money on the real estate market in Belgrade amounted to 828.4 million euros in the first quarter of 2023, while 813 million euros were spent in the first quarter of 2022.

Belgrade has the highest number of sale and purchase agreements, with a total of 6,924 agreements, RGZ said, adding that the highest number of agreements was concluded on the premises of the First Basic Court in Belgrade, while the highest number of agreements, with a total of 464, was concluded at the office of Notary Srbislav Cvejic.

In the first quarter of 2023, apartments account for the largest amount of money in real estate circulation in Serbia, amounting to 861.1 million euros, of which apartments in Belgrade account for 537.1 million euros, and the share of apartments in the total amount of money on the market in the first quarter of 2023 is 53 percent, which is four percentage points less than in the same period of 2022.

Based on data from sales contracts, in the first quarter of 2023, seven percent of real estate was paid for using credit funds, a decrease of five percentage points compared to the same period last year. Loans are most often used to pay for apartments, and in the first quarter of 2023, 18 percent of apartments in Serbia were paid for with credit funds, a decrease of ten percentage points compared to the first quarter of 2022.