Expat Serbia

Residential market

The Serbian residential market activity continued on a downward trend in 2011.

Now, Serbia is feeling the consequences of the global economics crisis. The real estate sector was subject to a significant decrease in demand in all segments. Residential market, the most dynamic and most popular of all property segments is now getting on his feet.

Experts note that the growth has been driven by two factors: the reintroduction of subsidized government housing loans and more realistic apartment prices following the economic crises. There is a new willingness from landlords to meet buyers’ demands on asking price, sometimes by 15-20%, stating that from 2008, residential real estate have decreased by a third.

The signs of recovery and certain positive movements in Belgrade residential market, in terms of supply, are becoming more evident. A significant number of residential projects, both high-quality and mid-end projects, are currently under construction, which will further enrich the residential property market in the next several years. According to current government plans, 10,000 low cost apartments will be constructed in Beograde, Novi Sad, Kragujevac and Nis. The state will additionally subsidies the interest rate on purchase loans by up to 7%, leaving buyers with an interest rate of as little as 2% on these loans.

For many experts, this is the time to become the property owner!

Eurodiplomatic Real Estate

Address: Dravska 18
Phone: +381 11 3808 842, +381 11 308 68 78
Mobile: +381 65 308 68 78
Official site: http://www.eurodiplomatic.com
Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Eurodiplomatic is one of the leading companies in the field of real estate. Our activities comprise renting, sales and buying as well as engineering and consulting service with full legal support.

We can offer you wide range of residental houses, apartments, offices, warehouses for rent or sale, or assist you to find proper place to build residential house, apartment, office and something else what can fit your requirements.

According to Danos, the Serbian legal framework recognizes two types of apartments, high-end and mid-end. With reference to the situation on the market and increasing trend of demand closing 2011 resulted in slight increase of the asking prices for mid-end apartments from EUR 1,400 to EUR 2,000 per sq m while the asking prices for high-end apartments remain steady.

Gross Sales prices of new apartments in Belgrade for 2011 (Source: Colliers International)