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    Apartment in Serbia is still the BEST INVESTMENT: There will be no price decrease until the end of the year

    Turnover on the Serbian real estate market reached EUR 1.3 billion in the first quarter of this year, which is almost 42 percent more than in the first quarter of the year before.

    The latest report published by the Republic Geodetic Authority (RGA) states that the top nine most expensive apartments in Serbia were in Belgrade Waterfront, where the most expensive square meter is as well EUR 9,677 respectively, and the most expensive square in a retro building of EUR 4,500 was sold on the territory of Stari grad municipality.

    Data on concluded real estate agreements in April show that 14,302 sale and purchase agreements were concluded in that month, which is not only higher when compared to the same month last year, in which activity was much lower due to the corona epidemic, but also compared to the same month of 2019, by as much as 38.7 percent.

    Along with Belgrade, which due to its attractiveness remains the number one choice for real estate purchase, the interlocutors of the BIZLife web portal singled out Kragujevac, Pancevo, Novi Sad and Nis as towns and places where real estate market has also revived and where prices have increased.

    „Real estate market extremely stable“

    Milos Mitic, the operational director of City Expert, says that for now the real estate market in Serbia is showing exceptional stability and continuous ascending growth trend.

    Despite expectations of many experts that the market will experience a certain decline in the first half of this year, something quite the opposite happened. Despite the large supply, the demand still exceeds it and thus maintains the very high price, Mitic states for the BIZLife web portal.

    Growth in demand and general price growth applies to almost every major town in Serbia.

    In general, the largest towns and towns that are attractive due to their urban plan, economic development and all cultural and social events they offer are ahead, and also those that are very close to Belgrade or are well connected infrastructure-wise – Novi Sad, Nis, Kragujevac, Pancevo.

    Who is buying apartments now?

    As for the structure of buyers, apartments are mostly bought by young people between 30-35 years of age, who have received permanent employment status and are thus securing their home. There are also many buyers who work in the IT industry with higher incomes than other workers on the labour market.

    Mitic adds that the banking sector is stable with interest rates that are at a record low level, and if we take into account that Euriobor is still in the red, all this goes in favour of housing loans being very accessible to the population, which greatly stimulates demand.

    In addition, in these times a large number of buyers are choosing to invest their savings in square metres, it being one of the safer investment options at the moment.

    Mitic says it is expected that this trend will definitely continue throughout the entire year with smaller seasonal fluctuations.

    Izvor: BIZLIfe/Jelena Andrić

    Foto: Pixabay, Privatna arhiva

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