Modern Serbs prefer other locations to buy real estate rather than Belgrade: 50 sq.m. for 50,000 euros!

Due to high housing prices in Serbia, many citizens invest money in real estate abroad. Interest in buying apartments abroad is growing due to the rising real estate prices in Serbia. Greece, Italy, Croatia, Montenegro, Spain, Turkey and Greece are becoming increasingly popular destinations.

Demand for real estate is growing in Greece

In recent years, a lot of Serbs have purchased summer houses in Greece, and the interest in this continues to grow. Only last year our citizens ranked among the first in the list of foreigners who have purchased real estate in Greece. "Despite the fact that real estate prices in Thessaloniki have increased significantly over the past three years, it is still possible to buy a 50 square meter apartment for 50,000 euros. The greatest demand of our citizens is concentrated on real estate close to the sea.

Luxury real estate in Serbia

In Serbia, more and more luxury properties are being built, which will drive up the price of other apartments. "The increase in prices on the market does not allow an ordinary citizen with much lower incomes compared to real estate prices to afford to buy an apartment. Mostly apartments are bought by rich people with surplus funds, our citizens living abroad, as well as citizens living here who have sufficient funds to buy real estate," says economist Dusko Bodroza from the Institute of Economic Sciences.

Investing in foreign real estate

Owning real estate in a foreign country is possible on the basis of bilateral agreements that Serbia has signed with almost 70 countries. "Funds transferred from one country to another should not be subject to checks or arouse suspicion, for example, with regard to money laundering related to terrorism and organized crime," emphasizes Ivan Simic from the Simic law firm.

Turkey - affordable real estate by the sea

Besides Greece, Turkey is also one of the places where prices are more affordable than in our region. On the classifieds you can find studio apartments by the sea with a guaranteed residence permit and a price as low as 49,000 euros. This could be an ideal vacation spot as well as an opportunity to generate rental income. (Mondo/RTS).