Last year, real estate turnover increased by 28 percent compared to 2020, and almost 50 percent more money was spent, even more than six billion euros.
Nearly 140,000 contracts have been concluded. Whether this trend will continue this year and how much the global market disruption due to the conflict in Ukraine will affect Serbia, was discussed at the Seventh Serbian Conference on Real Estate and Infrastructure Development.
The construction industry is largely dependent on imports, so further growth in real estate prices is expected due to rising construction prices, the price of imported materials, but also due to a shortage of workers.
What is quite certain is that the current geopolitical situation in the world is absolutely not favorable for investors and those who build complexes and various facilities, given that the material market is completely unpredictable. The workforce that left the crown in Serbia is now returns, but the price is at a high level because there is a great demand for workers. The key thing is that no one can predict what will happen in two years ", Dušica Gaković from the company" DEKA inžinjering "points out for RTS.
Nebojsa Nesovanovic from the international consulting company CBRE states that no one is sure how much the construction price will cost in three or six months.
"It is unacceptable for serious investment. What we can see is the slowdown in large investments in which serious regional or international players are participating," Nesovanovic added.
Mihailo Vesović from the Serbian Chamber of Commerce says that at this moment there is a risk that squares will be built that no one will have to buy at the price they really cost.
"Then companies and investors will reduce their profits, which will not allow them to reinvest the effects of the profits we have had in the last seven years," says Vesović.
Regardless of the price per square meter and up to several thousand euros, apartments are easy to sell because many see real estate as the safest investment.
"More and more people are investing all the money they can in real estate, because history and crises have shown that it is in fact the safest investment," Ervin Pasanovic said in front of Adventis Real Estate.
The turnover of business space increased by 42 percent compared to 2020, with a simultaneous increase in the amount of money of 45 percent. The turnover of construction land also increased - by 40 percent. Two thirds of the real estate was paid for in cash.