Prices of real estate in Belgrade at all-time high – Apartments sold at up to EUR 5,000 per square meter

The prices of real estate in Belgrade have been growing rapidly since 2000, and they are currently at their all-time high.

Experts say that the main reason is that the demand far exceeds the supply. The dynamic growth is also apparent from the data of the Statistical Office of the Republic of Serbia.

The prices of apartments in new buildings increased by 12.8% in 2018 compared to 2017, whereas the prices in Belgrade increased by 14.7%.

Prices per square meter range from EUR 1,600 for old apartments, which require renovation, to EUR 4,500 for apartments in the city center. It's similar in Dedinje and Senjak, where luxurious new apartments are sold for EUR 5,000 per square meter.

When it comes to the cities of the region, Belgrade has surpassed Sarajevo, Skopje and Zagreb and is getting closer to major world cities.

– The prices of apartments in Vienna have grown considerably in the past five years, with the average price per square meter now being around EUR 6,000. In the central Paris zones, the prices range from EUR 9,000 to the incredible EUR 40,000. In Moscow, the average price is around EUR 7,500 – said Nenad Stojanovic, the director of Real Consulting.

According to him, the growth of the GDP, affordable housing loans and an increasing influx of populace from other parts of Serbia have caused the prices to jump.

– The market is not stagnating, apartments are being sold, and the biggest demand is for new apartments, which are practically sold as soon as the foundation is laid down. I believe that these prices will remain constant in the upcoming period, unless something happens in the global market, some big economic crisis that would shake the market.

In addition to purchasers from Serbia, people from Bosnia and Herzegovina, Republika Srpska, China and Russia are also interested in apartments in Belgrade.