The remaining 150 euros relates to lending. This arises from the latest report of the Republic Geodetic Authority on real estate transactions in February 2021. The dominant method of payment in that month was cash - as much as 85% of the realized transactions. The share of cash in sales on the real estate market in our country is four percent higher than in January 2021.
"The amount of money on the market in February 2021 at the level of Serbia amounted to about 401.2 million euros. Almost half of that referred to Belgrade - 49 percent ", states RGZ.
Land was paid for in 99 percent of the turnover in cash, buildings in 90 percent of the turnover, special parts of the buildings in 70 percent of cases, and mixed transactions in 97 percent of the turnover, the report points out.
Looking at the regions, cash payments when buying real estate were most common in Šumadija and Western Serbia - 92% of the turnover refers to cash.
It is followed by Southern and Eastern Serbia with 91 percent, Vojvodina with 84 percent, while the smallest share of cash in real estate in Belgrade - 76 percent.
However, according to the data of the RGA, in February 2021, there was an increase in the share of financing the sale of apartments from credit funds - by six percent compared to February 2020.
We pay for the land in cash
Throughout last year, according to the RGZ's annual report, real estate and land turnover in Serbia was close to 4.2 billion euros.
"When it comes to the method of payment, in 2020, the dominant payment on the market was cash payment with a share of 86 percent," states the RGA.
Land was paid the most in cash - 99 percent of land turnover, mixed transactions in 96 percent of mixed real estate transactions, buildings in 91 percent of buildings turnover and special parts of buildings in 71 percent of turnover of special parts of buildings.
"In 2020, apartments were paid in cash in 67 percent of turnover, and from credit funds in 33 percent of sales," the RGZ states.
The largest share of credit financing of apartments in traffic in 2020 was represented in Vranje - 63 percent, and in four other cities, the share of credit financing of apartments above 40 percent was recorded. These are Kragujevac, Kraljevo, Cacak and Uzice.
"Novi Pazar - 94 percent, Prokuplje - 85 percent, Loznica - 84 percent, Bor - 82 percent and Krusevac - 80 percent had cash payments for the turnover of apartments with a share above 80 percent," states RGZ.
Observed by years, the payment of apartments from the loan in relation to the cash payment is in a slight increase, of five percent, in relation to 2019.
"In 2020, apartments in new construction were paid for in 66 percent of the turnover in cash, compared to 34 percent paid from credit funds. In the turnover of apartments in old buildings, the share of cash payments amounted to 69 percent of all realized transactions, "the RGZ report points out.