The total value of the real estate market in Serbia in 2019 was about 4.1 billion euros, up 12 percent from 2018.
The reason for this is an increase in sales in new buildings, the Republic Geodetic Authority (RGZ) announced today.
In the real estate market in Serbia in 2019, more than 100,000 sales contracts were made.
The data also show that in 2019 real estate sales in new construction increased by 16 percent and a slight decrease in the number of sales in old buildings by about two percent compared to the year before.
Most of the money went to the Belgrade real estate market, close to 2.2 billion euros.
This is followed by Novi Sad with close to 470 million euros, followed by Nis with 111 million euros, Subotica with 78 million, Kragujevac with 65, Pancevo with 54, Zrenjanin and Novi Pazar with about 38 million euros.
Observed by region, the largest number of sales was recorded in Vojvodina, 35 percent, followed by Belgrade, 26 percent, Sumadija and western Serbia 24 percent, and southern and eastern Serbia 15 percent.
The real estate market was the most active in the fourth quarter of 2019 with the highest sales in December, totaling 10,671 contracts.
Flats were the most sought after in the real estate market in 2019 with 35 percent, and they also had the largest share in the total achieved market value of about 46 percent, or 1.9 billion euros, B92 reports