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THESE 2 CITIES ARE INCREASINGLY DEMANDED FOR THE PURCHASE OF APARTMENTS: In Belgrade and Novi Sad, prices are at their peak, growth is expected in Nis and Kragujevac

The demand for apartments in Belgrade is growing day by day, even in the middle of summer, when it is the holiday and travel season, and people usually leave plans related to moving in the fall. In the last two to three years, that seasonality and the period of annual vacations have not been reflected so much on the real estate market, say real estate experts. Now, the average price of a square meter in Belgrade, in a new building, is 1,981 euros. When it comes to rising prices, they are currently at their peak in Belgrade and stagnation is expected. Experts expect Novi Sad to grow a little more, while in Nis and Kragujevac, an upward price increase is expected in the coming period. New construction is flourishing in the largest cities, primarily in Kragujevac, and especially in the last year, Pancevo has become in demand, and new construction is being sold there while it is still under construction. People now go to slightly further locations or land on ground floor or top floor apartments. As for apartments under construction, there is a huge demand, and the cheapest, but also the most expensive real estate is being sold quickly. Experts explain that if you are buying an apartment under construction, you should book a property as early as possible, because you may have some savings, maybe up to 10 percent. Source: Kurir.rs/Telegraf

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TRENDS IN THE REAL ESTATE MARKET CONTINUE Demand for apartments is growing in Serbia, but prices are also rising

In the second quarter of this year, there was an increase in demand for apartments, but also their prices in both new and old buildings, and the trend of buying cottages around Belgrade and Novi Sad, which began last year during the corona virus pandemic, remained. This was stated for Tanjug by the head of the Real Estate Valuation and Management Department of RGZ, Dragana Milićević Sekulić, and added that the average price of apartments in new buildings in Belgrade increased by 14%, and in old buildings by 10% compared to the second quarter of last year. As the quarterly report gives an overview of the real estate market in Novi Sad, Kragujevac and Nis, Sekulic said that the average price of apartments in new construction in Novi Sad increased by 13 percent, in Nis by six percent, and in Kragujevac by eight percent compared to second quarter 2020 When it comes to old buildings, the average price in Novi Sad increased by 10 percent, in Nis by nine percent, and in Kragujevac by seven percent, said Sekulic. At the level of Belgrade municipalities, the largest increase in the average price of apartments in new construction was recorded in Palilula by 31 percent, then in Vozdovac by 25 percent, while Cukarica had a change in the average price of apartments in new construction by four percent. Sekulic says that on the territory of other Belgrade municipalities, the increase in average apartment prices was more moderate. With the average price of apartments in old buildings, the largest increase was recorded in Vracar and amounts to 16 percent, followed by Cukarica and Zemun by 12 percent and Stara Rakovica by 11 percent. - The cheapest apartments in old and new buildings are on the territory of the municipality of Stara Rakovica and they cost an average of 1,138 euros per square meter in the old building and 1,369 euros per square meter for the price of apartments in new buildings, said Sekulic. He points out that in Belgrade, 39% of the apartments sold in the second quarter of this year were paid with credit funds. Compared to the second quarter of last year, when due to the state of emergency and limited movement of citizens, the purchase and sale of apartments decreased, the turnover of apartments this year compared to that period at the state level was 91 percent higher, says Sekulic. He reminds that the situation has changed since the second half of May and that by the end of 2020, a larger number of concluded contracts was recorded than before. - In the second quarter of 2021, an average of about 16,000 contracts per month were submitted to the RGA. The total number of contracts that was registered was 37,153, which is an increase of 84.5 percent, said Sekulic. When it comes to cottages, Sekulic says that last year the turnover of cottages was significantly higher during the second quarter, and this year, in relation to that number, an increase of eight percent was recorded. - What we concluded last year and what was confirmed in this quarter is that the weekend houses are more busy in the vicinity of Belgrade and Novi Sad, ie in the vicinity of the place of residence, and we had such a situation this time as well, concluded Sekulić. Source: Blic.rs

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