City of Belgrade can sell land and apartments

The Transient Council of Belgrade adopted Friday (18 April 2014) a decision enabling the city to sell the land and facilities in its possession.

Based on this decision, the city of Belgrade will be acquiring and selling facilities at their market value that will be determined by the Public Revenue Administration of the City of Belgrade. This means that Belgrade will be able to sell city building land, apartments and other facilities in its possession which are not essential to city operations, the Transient Council of Belgrade said in its release.

Although the Republic of Serbia made it possible back in 2009 to alienate building land, the city of Belgrade has so far been renting land to investors for a period of 99 years.

- This decision will increase investments in Belgrade because investors will now be landowners, which will make it easier for them to get money from banks to build facilities – the release reads.

When it comes to apartments, the city of Belgrade will put the flats it owes up for sale at a market price.

All proceeds of the sale of building land, apartments and other facilities will be revenue for the city budget.