Sberbank: Falling real estate prices in Serbia? VIDEO

Construction consultant Nikola Ђogatovic said that Serbia is not an extra-European country and all its movements follow the generally accepted rules in Europe and around the world.

"The Serbian market operates on slightly different principles than in Europe and the rest of the world. If your living expenses - prices in stores, utilities, interest rates... - have become more expensive. - it means that credit has gotten more expensive. And wages don't take into account the rising cost of living - this will certainly affect the cost of producing square meters, which is the price you will buy. More than 90% of the real estate that is bought in Europe and America is bought on credit," Ђogatovic said, adding that in Serbia the situation is a bit different.

"We are faced with the fact that we have four opportunities to buy a home with cash and one to take out a loan. In this case, you cannot make assumptions about what will happen in the future. On the other hand, the savings in our banks amount to about 14 billion euros. The entire market value of real estate in Serbia last year amounted to 7.5 billion euros," he said.

Photo: Printskrin, TV Prva

When asked how quickly these changes in the European Union could affect prices in Serbia, the construction consultant said that the Serbian market is quite speculative.

"America is the biggest speculative market. There are some big players who can significantly affect the market with their moves, capital and other things. We have a similar type of market.

In the Netherlands, when you buy an apartment, you cannot rent it out for the first five years. This means that you have to live in it for your address to be registered. When you rent an apartment in the Netherlands, you have two types of contract. A type A contract means that you must live in the apartment for at least 12 months. After that, you can stay in it without restrictions. The contract clearly states how the rent can be increased and what happens. This means that anything can happen in the market, you have a contract that you will adhere to. A Type B contract means that you can stay in the apartment for a maximum of 24 months and then you can no longer live there.

"The state, in a way, regulates this market itself, so that what happened with us last year, when people mostly came from Russia and refused to rent to their longtime residents, did not happen," he concluded.

It is worth noting that there has been a stagnation of prices. "The theme when a square meter used to be rented for 10 euros and now for 20 or even 25 is no longer relevant. These modalities that were there before have not been seen recently, and prices have started to gradually return to normal values," Ђоgatovich said.

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