In the first half of 2024, Serbia’s real estate market saw a 3.9% increase in value, reaching a total of €3.4 billion, according to the latest data from the Republic Geodetic Institute (RGZ). The number of concluded sales contracts also showed a slight increase of 0.2%, with 60,154 transactions recorded compared to the same period in 2023.
The regulated real estate market represented a significant portion of this growth, accounting for 73% of the total market value, or €2.5 billion. This sector also made up 86% of the total number of contracts, with 51,898 transactions. The value of turnover in the regulated market rose by €347 million compared to the first half of 2023, reflecting a 7% increase in its share of the total market value.
On the other hand, the partially regulated market accounted for 27% of the total market value in the first six months of 2024, amounting to €905.2 million. However, the number of transactions in this segment decreased by 774 contracts, and the market value saw a decline of €194 million compared to the previous year.
Despite claims by some that the real estate market is slowing down or in decline, the RGZ’s latest reports contradict this notion, showcasing positive trends. The report emphasizes that while most real estate agencies are adapting to market changes and providing reliable statistics, some individuals who have not kept up with current developments are spreading inaccurate information. The RGZ stresses the importance of relying on verified data from official sources for accurate insights into the real estate market.
The RGZ calls on media, citizens, and market participants to use official and up-to-date data when making decisions related to the purchase, sale, or valuation of real estate, ensuring well-informed and secure choices in the market.
