Real estate prices will only grow

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In recent years, there have been exclusively trends of increasing real estate prices, and judging by the forecasts of experts, due to the war in Ukraine, the costs will only continue to grow. Until when, no one still knows that, but citizens should not expect any better situation on the market by the end of the year.

The general rise in prices since the beginning of the year has also affected the rise in real estate prices, which have continued to burden the budget of Serbian citizens, and according to real estate experts, apartment prices should not be expected to fall by the end of the year.

Such trends were forecast well before the crisis in Ukraine, but the war only further contributed to rising costs. Additional pressure on consumers’ pockets will only be felt if oil, gas and production inputs become more expensive.

Milos Mitic, the operational director of the City Expert agency, said that real estate prices would continue to rise in the coming period, but that it was very difficult to say when prices would stabilize.

“Construction input prices have risen even before the war in Ukraine, but the current situation could lead to even greater growth due to disruptions in the supply chain. This domino effect and destabilization of economic activities will depend on the speed of crisis resolution and return to normal flows. and energy derivatives, “Mitic said.

Mitic pointed out that a much more serious problem is the energy dependence of Serbia and a good part of Europe on Russian oil and natural gas.

“The destabilization of this market is one of the key problems that could affect the disruption of flows in the whole economy. Given that fuels are one of the inputs that significantly affect the price and production of many things, it later affects the growth of prices in real production “, explains Mitic, which confirms the thesis that all this in total could increase real estate prices.

The price of the square increased by 500 euros, the most expensive prices in Vracar, Stari Grad and Savski Venac

The average price of a square meter of apartments in a new building in Belgrade has risen by more than 500 euros in the past five years. An apartment of 50 square meters in the Belgrade municipality of Voždovac could be bought in 2017 for 75,000 euros, while today it is necessary to set aside around 96,500 euros for a property of the same area. For many, for whom borrowing is the only way to move into their home, it has become an insurmountable obstacle, because now they have to collect more than 19,000 euros to get a bank loan.

When it comes to specific municipalities, according to the reports of the Republic Geodetic Authority, the most expensive squares are sold in the Belgrade municipality of Savski Venac, where the average price per square meter is 3,328 euros.

On the other hand, apartments on Mirijevo, Karaburma, parts of Voždovac and Zemun can still be found below 2,000 euros, but their price is also growing due to increased demand and rising prices of raw materials. For this money, you can’t buy an apartment at a condominium in New Belgrade, but you can in the mentioned municipalities and parts of the city, Nova writes.