The pandemic of the Covid-19 virus did not significantly affect the real estate market in Serbia, which leads to the fact that, as always, the factor of supply and demand of real estate determines the situation in this market, showed the analysis of data for the first half of the year.
The report from the real estate market for the first six months states that in Serbia in that period the number of turnover decreased by 14 percent compared to the same period last year, and the number of realized real estate by 13 percent while the amount of money fell by eight percent turnover of 1.7 billion euros.
It follows that real estate was more expensive in traffic.
Taken as a whole, if we analyze the period 2017-2020 by semesters, Covid-19 affected the number of traded real estate as well as the share of money in the market, while the stable growth of the average value of traded real estate continued.
The RGA points out in the report that during the last three years, the real estate market in Serbia has experienced expansion and the largest growth since 2008.
This was contributed by low interest rates, changes in the law and legal construction, the City of Belgrade as a crossroads and the center of Southeast Europe, a large number of foreign missions and the established opinion of citizens that investing in real estate is a safe investment.
As the whole world was affected by the Covid-19 virus pandemic this year, the global situation has affected different real estate sub-markets differently.
There were real estates of lower value in the sub-market of land in circulation, and real estate of higher values in the sub-markets of special parts of buildings, especially buildings in traffic.
The report states that the average price of housing for the territory of the Republic of Serbia in the first half of 2020 is 997 euros / m2 for old buildings, and 1,337 euros / m2 for new buildings, while in the first half of 2019 950 euros / m2 should have been set aside for old buildings and for new construction 1,320 euros / m2.
When it comes to the method of payment, in the first half of 2020, apartments were paid in cash at 67 percent, compared to 33 percent paid from credit funds.
Compared to the same period last year, five percent more apartments were paid from credit funds.
In the first half of 2020, the share of foreign citizens in sales is close to one percent.
Compared to previous periods from 2017, that percentage is the same except in 2019, where foreign nationals participate with two percent.
In the first half of 2020, 40,884 contracts on the purchase and sale of real estate were made on the real estate market in the Republic of Serbia, which were processed by the Republic Geodetic Authority through the Real Estate Price Register.
The number of realized sales is 14 percent lower in relation to the number of sales from the first half of 2019.
The number of sales of apartments in new construction is 12 percent lower compared to the first half of last year.
The most active month on the real estate market in the first half of 2020 is June with 10,288 sales, which is compared to 2019 at the level of the most active months on the market during the year, ie about 20 percent more than in June last year.
Observed by regions, the largest number of sales was registered on the territory of Vojvodina, then on the territory of the City of Belgrade, the territory of Sumadija and western Serbia and the territory of southern and eastern Serbia.
In the first half of 2020, apartments, construction land, agricultural land, residential buildings, auxiliary buildings, garages and others participated the most in the real estate market.
The number of sales of cottages has significantly increased, which account for one percent of the total turnover.
In the period before the state of emergency, real estate was traded in similar percentages as in previous periods.
During the state of emergency in relation to the total volume of turnover, apartments were sold in a significantly higher percentage compared to the previous period, while the sale of construction land, agricultural land and residential buildings was in a slightly lower percentage.
After the state of emergency, the market returned to the level before the state of emergency, where apartments are still the most sought after on the real estate market, but their effect is smaller in total, and the effect of construction land, agricultural land and cottages has increased.
The most money participated in the real estate market in the City of Belgrade, close to 875 million euros, of which apartments are 594 million euros. It is followed by the City of Novi Sad with 199 million euros, the City of Nis with 57 million euros, Subotica with 28 million euros, Kragujevac with 26 million euros, Novi Pazar with nearly 23 million euros, Pancevo with 21 million euros.
Apartments in the first half of 2020 have the largest share in the total amount of money with 57 percent, or 936 million euros.
The most expensive square meter in Serbia in the first half of 2020 is at the exclusive location Belgrade on the water and cost 9,124 euros per square meter, and the most money for an apartment in the amount of 1,380,888 was also allocated in Belgrade on the water.
The first 40 most expensive apartments, at a unit price, were sold in Belgrade on the water.
When it comes to old buildings, the highest price per square meter was paid 3,737 euros for an apartment in the Old Town, and the most money in the amount of 810,000 euros was set aside for a five-room apartment also on the territory of that Belgrade municipality.
When it comes to the method of payment, in the first half of 2020, apartments were paid in cash at 67 percent, compared to 33 percent paid from credit funds.
Compared to the same period last year, five percent more apartments were paid from credit funds.
The total number of traded business premises in the first half of the year is 15% lower compared to the same period last year.
The largest number of traded business premises is in the area of the municipalities of Novi Sad and New Belgrade.
In the first half of the year, a total of 6,847 houses were traded on the territory of the Republic of Serbia. Compared to the same period in 2019, the turnover of houses is lower by one percent, and the region of Vojvodina is in the first place in terms of the number of house sales.
The total number of traded construction land in the first half of 2020 is 8,497, which is two percent less compared to the same period last year.
The largest number of traded construction land is in the area of Vojvodina, Dnevnik reports.
