Stabilization of Real Estate Market in First Quarter – Trade of Real Estate in Serbia Amounts to EUR 1.64 Billion

The real estate market in Serbia in the first quarter of 2023 is recording a stabilization. An increase in the total volume of money for real estate that was up for sale has been recorded, although the number of transactions has dropped, as shown by the data of the Republic Geodetic Authority (RGA) on the situation in the real estate market in the first quarter of the current year.

The total amount of money used for the purchase of real estate amounted to EUR 1,642,369,253, which is an increase by 2.6% compared to the same period last year.

The total number of sales and purchases in the real estate market in the first quarter of 2023 in the Republic of Serbia was 29,275, which is 9.5% less than in the first quarter of 2022, the press release says.

As added, in Belgrade, in the first quarter of 2023, EUR 15.4 million more was set aside for the sold and purchased real estate than in the same period last year. The amount of money in the real estate market in Belgrade was EUR 828.4 million in the first quarter of 2023, whereas in the first quarter of 2022, it amounted to EUR 813.

– The City of Belgrade also recorded the largest number of sales and purchase agreements, a total of 6,924 agreements. The most sales and purchase agreements were recorded in the area of the First Basic Court in Belgrade, and the most agreements, a total of 464, were signed at the Srbislav Cvejic Public Notary office – it is said.

In the first quarter of 2023, the biggest share in the total money in the transactions of real estate in Serbia pertained to apartments, EUR 861.1 million, of which, in Belgrade, EUR 537.1 million was set aside for apartments. The share of apartments in the total amount of money in the first quarter of 2023 amounted to 53%, which is 4% less than in the same period in 2022.

– Based on the data collected from the sales and purchase agreements, in the first quarter of 2023, 7% of the real estate was paid for from loans, which is 5% less compared to the same period last year. Loans are mostly used to pay for apartments. In the first quarter of 2023, 18% of the apartments in the Republic of Serbia were paid for from loans, which is 10% less compared to the first quarter of 2022 – the press release says.

The highest prices were reached for apartments at the Belgrade Waterfront, where the most expensive floor area was sold at a price of EUR 11,474 per square meter, with an area of 143 m2. The most expensive apartment, with a total area of 383 m2, went for EUR 2,601,888. Still, not all the apartments in the Belgrade Waterfront location are in the most expensive category, so, the lowest price per square meter in this prestigious location in the first quarter was EUR 3,264.

Republički geodetski zavod Beograd

Beograd na vodi d.o.o. Beograd

RGA

Srbislav Cvejić

real estate market

purchase of real estate

sale of real estate

floor area price

price of apartments

purchase of apartments

sale of apartments

housing loans

most expensive floor area

most expensive apartment