When can we expect real estate prices to fall

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The general rise in prices since the beginning of the year has also affected the rise in real estate prices, which have continued to burden the budget of Serbian citizens, and according to real estate experts, apartment prices should not be expected to fall by the end of the year.

Apartments in Belgrade have become more expensive in recent months. The average price of a square meter in a new building in the capital in the third quarter of this year exceeded 2,000 euros for the first time and reached the amount of 2,080 euros. It has not been news for a long time that the most expensive square is in central city municipalities such as Vracar, Old Town or New Belgrade, but the prices of apartments in suburban settlements are also becoming more expensive.

By far the most money in Serbia needs to be set aside if you want to become the owner of a property in Belgrade. According to the report of the Republic Geodetic Authority, the most expensive squares are sold in the Belgrade municipality of Savski Venac, where the average price per square meter is 3,328 euros.

On the other hand, apartments on Mirijevo, Karaburma, parts of Voždovac and Zemun can still be found below 2,000 euros, but their price is also growing due to increased demand and rising prices of raw materials. For this money, you can’t buy an apartment at a condominium in New Belgrade, but you can in the mentioned municipalities and parts of the city.

“You can find a decent apartment in a new building in the municipalities that are a little further from the center, but you can hardly find this city center for this amount. Another thing is also important, and that is whether you pay in cash or on credit. you have cash, you have better negotiating potential, so you can lower the price by three to five percent, although that doesn’t have to be the rule because the seller has the final say, “City Expert told Nova.rs recently.

The operational director of this agency, Milos Mitic, told Nova.rs that it is difficult to predict how long real estate prices will rise, but that it is certain that prices should not be expected to fall by the end of the year.

“For now, all indications are that real estate prices will not fall by the end of this year. Among other things, the prices of raw materials, such as iron, concrete and other materials, are rising, ie all inputs that affect the price of construction. In 2023, there may be some changes, but it depends on the market situation and the whole problem around the coronavirus pandemic, “said our interlocutor.

He says that the crisis is not over yet, and that the real effects will only be felt in the coming period, Nova reports.