Real estate prices in Serbia jumped by 13.7 percent

Published on 1. February 2023., News

The real estate market in Serbia has shown constant growth over the last few years, which is reflected in the higher demand for apartments, business premises and land. But also in prices, which are 13.7 percent higher in the last quarter of last year.

The total amount of money used for the purchase of real estate amounted to 2.3 billion euros, which represents a growth of 27.3 percent compared to the same quarter of the previous year, the Republic Geodetic Institute announced today.

The largest share of total funds is the sale of apartments, with a share of 55 percent and 1.2 billion euros in the fourth quarter of 2022. Given that the number of apartments sold in the fourth quarter of last year increased by 0.6 percent compared to the same period in 2021. In addition to the fact that apartment prices continue to rise in the fourth quarter, the total value of the market measured by the sum of realized sales of apartments achieved a record growth in 2022 by 36 percent year-on-year (12 percent in the third quarter of 2022).

When it comes to the method of payment, nine percent of all real estate was paid for from loans, which is four percent less compared to the previous period, and apartments were mostly paid for from loans (21 percent in total).

The highest prices were achieved for apartments in Belgrade on the water, where the most expensive square meter was sold at a price of 10,184 euros.

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