The total value of the real estate market in Serbia in the first half of this year amounted to 3.3 billion euros, of which 1.1 billion euros, i.e. 34 percent of the total value of traded real estate, came from the partially regulated system of the real estate market, the Republic Geodetic Institute announced (RGZ). The number of contracts concluded within the partially regulated market system in the first half of 2023 was 9,494, which is 137 percent more than at the same time in 2020, the announcement stated. As it is added, in case of purchase directly from investors, 78 percent of the total value of traded real estate comes from the partially regulated market.
RGZ stated that apartments are most often bought from investors, where a significant increase in purchases on the partially regulated system of the real estate market in the last four years is also noticeable. The percentage of apartment purchases in Serbia directly from investors on the partially regulated market in relation to the entire primary housing market in the first half of this year reached 70 percent, and in Belgrade 85 percent, while in the first half of 2020 it was 50 percent and 55 percent, respectively.
The largest number of sales contracts, 2,471, on the partially regulated market, for the first six months of 2023, was concluded in the area of ​​the First Basic Court in Belgrade, with the largest volume of funds of around 506 million euros. This accounts, as stated, for half of the total value of the partially regulated market.
It was specified that the office of Public Notary Srbislav Cvejić was the office with the largest number of submitted sales contracts from the partially regulated real estate market, namely 548 contracts out of a total of 867 contracts registered by that office in this period. The office of Public Notary Srbislav Cvejić is also the office with the largest volume of funds on the partially regulated market, 142 million euros out of 175 million euros, which is the total volume of funds in that office in the first half of the year.
RGZ states that the real estate market in Serbia includes three systems – a regulated system, which means that real estate is registered in the cadastre, a partially regulated system, which means that real estate is not registered in the cadastre, and an unregulated system, which includes real estate that was not built according to regulations and is not registered in the cadastre. RGZ warned citizens, who plan to invest in real estate, that “investing in real estate on a partially regulated market carries numerous risks, the cause of which lies precisely in the fact that these real estates are not registered in the real estate cadastre for various reasons.”
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