The Vice President of the Construction Chamber, Goran Rodic, states that there are many completed buildings where the structure of real estate is not so favorable, bearing in mind that smaller apartments are now being sought.
– We have a lot of finished buildings, but the structure of the real estate is not so favorable for what is required, and smaller one-bedroom, one-bedroom and two-bedroom apartments are in demand. Real estate prices will remain at this level this year, perhaps in areas where higher demand is a slight jump, but they will be identical to those in 2019 – Rodic told Tanjug.
He points out that apartments are a market category and that when there are more apartments and prices fall, though much depends on the credit power of citizens. The International Real Estate Market Conference held in Belgrade last month said that the real estate market in Southeast Europe continues to grow faster than expected, and that there is increasing demand for the construction of modern offices and retail outlets.
Senior director of SEE’s Valuation Unit at CBRE Real Estate Consulting House, Nebojsa Nesovanovic, told Tanjug at the time that, with regard to property prices, he expected growth to slow this year.
– We can not expect a decline, we expect strong demand and hope that due to increased supply, prices will slow down with growth. The goal is to slow down the price growth, and only then to talk about the decline – he said.
Over the next year, he hopes price rises will slow and the market will stabilize, and he expects adjustments in about two years.
The highest demand is for real estate in New Belgrade, and most can be expected to be built there, especially in Block 65.
– That part is practically becoming the new center of the city, and the Belgrade Waterfront project is also important for maintaining balance – he said. Talking about shopping malls, he said that there is a possibility of building another and that consumer habits are changing.
Previously, 85% of the malls belonged to the store, and now retail space is shrinking, with additional entertainment and leisure facilities beginning to dominate. He said trends are similar across the region and the market continues to grow.
– We expected a slowdown in growth and a year ago we projected it, and that did not happen. The market continues to grow dynamically, notably housing construction and residential property prices. Also, there is an increase in office space, occupancy and rent – said Nesovanovic.
He said that retail sales are rather full in all countries of the region, except Serbia.
– We are still developing in our country and we expect it to be filled in a year or two – he said, adding that there is an increased demand for office space in Serbia, because many from the wider region are moving to our country.
