It is estimated that with the complete arrangement of the real estate cadastre, Serbia’s GDP would increase by more than seven percent at the state level and by over 15 percent in the construction sector, the Republic Geodetic Institute (RGZ) announced today.
As stated, in the reform of 2015, Serbia planned to spend 50 million euros for the project of arranging the land administration in Serbia, and expects it to be completed by 2025.
Fixing the property situation in Serbia has improved the security of ownership of real estate, which has increased the security of investing in Serbia, according to RGZ.
As they point out, Serbia became the focus of the UNGGM after its cadastral system was declared an example of good practice.
Digitization of the cadastral system is underway in Serbia, and the Republic Geodetic Institute (RGZ) has been declared an institution with good practice according to the UN.
RGZ states that in the last six months, Serbia hosted four high-level foreign delegations in order to familiarize themselves with the work of the Serbian cadastre and exchange experiences.
Thanks to this approach of the Government of Serbia, a contribution was made to the increase in the number of foreign investments and the increase in real estate prices on the market.