RGA apartment price index for first quarter of 2024 shows mild growth

The RGA apartment price index for the Republic of Serbia in the first quarter of 2024 amounts to 160.49, which represents an apartment price growth of 4.74% compared to the same period last year. Compared to the fourth quarter of 2023, apartment prices in Serbia have recorded a mild growth of 0.78%. This price increase compared to last year and the mild quarterly growth indicate that the real estate market remains stable and without major fluctuations, which is a positive sign for the economy and the investors, as said on the website of the Republic Geodetic Authority (RGA).

Apartment prices in old building on the level of Serbia grew 4.52%, whereas those in new buildings, that is, purchase from investors, had a higher year-on-year growth, which amounted to 5.09%.

The sale of apartments in the first quarter of 2024 in Serbia remained at about the same level as last year. In the first quarter of 2024, there was a stabilization of demand for apartments, with 10,186 apartment transaction agreements recorded (0.7% less than in the same period last year), with a total value of EUR 834 million (2.5% less than last year), it is added.

When the apartment price index in Serbia is compared with the indices in EU states, Serbia had a mild and stable price growth, it is said. According to the available data for the fourth quarter of 2023, a larger number of states recorded a more drastic slowing down or real estate price drop, whereas a few countries recorded a double-digit growth.