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Serbia, Changes in the real estate market

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A square meter in Serbia is getting more and more expensive, and the same is true of rent prices, which in the last year have risen, in some cases, even twice as much.

However, real estate agents have good news at least when it comes to renting apartments – rental prices are already falling and that trend will continue until large groups of well-to-do Russians come to Belgrade.

Prices in new buildings will continue to rise, a slight increase in prices is expected,” Lazarevic told Nova.

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She points out that the demand is so great that apartments are sold almost immediately after being advertised.

“At the moment, potential buyers can still find apartments in old buildings at decent prices. Admittedly, there are not many of them and they are mostly smaller. Those whose price is correct are mostly one-bedroom apartments,” says Lazarevic. However, she adds that such apartments sell quickly, already two days after advertising.

What about rental prices? 

In contrast to the apartments for sale, for whose prices the agents do not have such optimistic forecasts, Katarina Lazarevic has good news for tenants.

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“When it comes to renting apartments, the demand has dropped, so we can already see a slight drop in prices.” Whether they will return to the old level, at which they were before the arrival of the Russians in Serbia, remains to be seen,” she says.

The last peak was in October, possibly the first half of November, when prices were astronomical. Currently, prices are lower, although not at the level they were before the war in Ukraine. Experts agree that rental prices will continue to fall until “Russians start buying plane tickets to Belgrade again.”

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