It is possible: Apartment prices in Serbia may decrease.

Prices for new buildings are rising, while prices in the secondary real estate market remain stable, and even a slight decrease in prices wouldn't surprise anyone.

According to agencies and investors, the current situation in Ukraine is affecting the real estate market in terms of prices per square meter, both in the new construction market and the secondary housing market. Agencies see the main impact in the expectation of a decrease in the number of transactions involving residential loans due to potential inflation, but they also anticipate that people with cash will speed up and activate the buying process. From the agencies' perspective, the construction of new buildings will be partially reduced compared to the current situation.

Most agencies (37%) believe that prices will increase, while 29% have already noticed price increases.

Sale house in Zlatibor 345 549 $

Serbia,Zlatibor

172 м²

Sale flat in Nish 121 274 $

Serbia,Nish

3 Bedrooms

1 Bathroom

76 м²

Sale flat in Nish 61 193 $

Serbia,Nish

2 Bedrooms

1 Bathroom

54 м²

Sale flat in Nish 108 980 $

Serbia,Nish

2 Bedrooms

1 Bathroom

64 м²

Sale flat in Nish 114 599 $

Serbia,Nish

2 Bedrooms

1 Bathroom

70 м²

Sale flat in Nish 149 201 $

Serbia,Nish

3 Bedrooms

1 Bathroom

82 м²

The secondary real estate market, with dominant "classic" buyers compared to investment buyers, in their opinion, is not subject to big price fluctuations, and 40% of agencies believe that price trends will not change significantly.

Real estate buyers believe that the current situation in the world will affect housing prices (56%) and purchasing decisions, and they expect people to be more cautious in their actions until the situation stabilizes. It is important to remember that even after stagnation during the state of emergency and the coronavirus pandemic, the real estate market quickly returned to normal levels – both in terms of the number of transactions and prices.

A survey conducted by 4zida.rs from March 16 to 19, 2022, showed that 40% of buyers expect an increase in prices in the secondary real estate market, while 30% anticipate a decrease. Almost 13% believe that prices for older housing will remain unchanged, and about the same number cannot predict the price dynamics.

Overall, the situation in the real estate market suggests that prices are unlikely to change significantly, and those planning to invest in real estate should not postpone their plans.