Serbia, Decreased Russian demand for apartments in Belgrade

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Apartment rental prices have risen significantly in the last year due to the arrival of Russian citizens in Belgrade, and real estate agencies say that there is currently no great demand from Russians for apartments, so it is expected that rental prices will decrease in the coming period. The owner of the “Kaća Lazarevic real estate” agency, Kaća Lazarevic, says that there is currently no new wave of Russians interested in renting apartments, which is why the offer is better, and that rental prices are still high.

“Landlords will quickly realize that they need to adjust the prices to our standard of living, because apartment maintenance is not a small item and it is not worth it for them to keep an empty apartment”, Lazareviceva told Tanjug.

She pointed out that many apartment owners evicted tenants with excessively high rental prices, in order to rent out the apartments to Russians and thereby profit. She added that she expects that the increasing supply of apartments will lead to a correction of the rental price, although, as she says, people are reluctant to decide whether to sell or rent. When asked in which locations the rental price is the highest, Lazarevic stated that the apartments were the most expensive in the city center, which Russians were most interested in.

“Prices high, but no trend of further increase”

She pointed out that Russians did not want to live in old apartments with old furniture and that they chose new buildings.

“We should not forget that they came here with their savings, and the question is how long will those who are now renting, because they have to renew their stay every three months”, said Lazarevic.

When asked what the current situation is on the real estate market, Lazarevic says that there are always a lot of buyers at the end of the year, that prices are still high, but currently without a trend of further increase.

“The real estate market is always interesting at the end of the year. Clients who have more capital in their account want to invest that money and a lot of people from abroad come here with the desire to buy real estate”, said Lazarevic, Euronews writes.

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