Most expensive real estate in Belgrade Waterfront sells for nearly 8,000 euros per square meter
The most expensive price per square meter was reached in Belgrade Waterfront
In the first half of this year, the value of the real estate market in Serbia was 1.8 billion euros, while about 47,000 properties have been acquired by new owners, the Republic Geodetic Authority (RGZ) said.
The total value of real estate traded under the sales contracts processed by RGZ is 12 percent up on the same period last year when the market value was 1.6 billion euros.
"Although the sales volume decreased slightly compared to the same period last year when 48,000 contracts were concluded, the trend shows that real estate prices themselves have increased, bearing in mind the increase of the total monetary value by 200 million euros," RGZ said in a statement, adding that this was achieved "due to the increase in the sale of real estate in new construction by 13 percent, and it is common for new construction to be more expensive than old construction."
All traded real estate in 2019 was registered in the real estate cadastre thanks to the implementation of the relevant law, RGZ states.
More than half of the money has been spent on real estate in Belgrade - 995 million euros - which is a significant increase compared to 830 million in the first half of 2018, RGZ said.
Belgrade is followed by Novi Sad, where the market value stands at 194 million euros, which is an increase of 9 million compared to the same period last year.
In terms of market value Nis is next with 46 million euros, Subotica with 32 million, Pancevo with 25 million and Kragujevac with 24 million.
In regional terms, according to RGZ data, 27 percent of the total real estate trade takes place in Belgrade and 36 percent in Vojvodina.
In terms of structure, apartments in Serbia are the most sought after (47 percent), an increase of 14 percent compared to the same period last year, while the value in the trade of apartments amounted to 850 million, which is 75 million more.
Houses hold a 13 percent share in the real estate market while agricultural land accounts for 20 percent of total real estate trading. The monetary value of the agricultural land market is around EUR 87.6 million, reaching the highest prices in Backa.
The highest price per square meter when it comes to apartments in Serbia in the first half of this year was at an exclusive Belgrade Waterfront location. The price reached 7,918 euros, while the total price of the apartment was 973,888 euros, RGZ announced.
As for "old construction," the highest price per square meter was 3,600 euros for an apartment in Kralja Petra Street in Belgrade, while the most expensive apartment in the same category sold for 870,000 euros, located near the Municipality of New Beograd.
The most expensive house with a yard in this period reached the price of 2,988,000 euros, located in the territory of the municipality of Savski Venac, on Topcider Hill in Belgrade. When it comes to office space, the top price was 2,680,000 for 1,600 square meters located near the National Assembly in Belgrade.