Belgrade Garages: New Luxury or Financial Madness?
Did you know that the price of a parking spot in Belgrade has reached an astonishing 73 euros per square meter? Yes, you read that right! For the price of one garage in the city center, you could buy an apartment on the outskirts of the city!
Booming Demand and Prices
In the last four years, the number of garages sold in Belgrade has increased by over 65%, with their total market value reaching around one billion dinars. Demand in the city center is huge, while supply is minimal, which further drives prices up. More and more cars on the streets, most families owning two vehicles, and the need for comfort – no scraping ice and snow in winter, air conditioning in summer – have turned garages into a luxury that is priced like real estate.
Investment or Expense?
Dušan Uzelac, a financial analyst, clearly states that investing in garages is profitable only if you rent them out. There is still a misconception here about what is an investment and what is an expense. Garages are increasingly recognized as an investment because there won’t be fewer cars, but there will be fewer parking spots. Uzelac predicts that investors will soon start building garages instead of apartments, as demand is huge, especially in the city center.
Banks and Loans for Garages?
Interestingly, banks approve loans for buying garages, and mortgage loans no longer have the option to separate garage purchase. So if you don’t have cash or inheritance, you’ll have to take a loan for a garage just like for an apartment. Banks don’t care what you buy – a garage is real estate just like an apartment.
Why Has a Garage Become a Luxury?
Belgrade is changing. Ten or twenty years ago, not every building in the city center had a garage or parking spot. Today, the situation is completely different. Growing demand and lack of space lead to skyrocketing prices. A garage has become a status symbol and a luxury, not just a practical necessity.
Conclusion
If you thought investing in real estate was only about buying apartments, think again. Garages in Belgrade are the new golden goose for investors. But is this sustainable? Will garage prices keep rising or is this just a bubble waiting to burst? And what does this mean for ordinary citizens struggling to find a place to park their car?
In any case, if you have a garage, cherish it like gold. And if you don’t, maybe it’s time to start thinking about buying one – or prepare for the eternal search for parking.
What do you think? Is this the new luxury or just another proof that Belgrade has become a city where money is made on everything, even on a spot for your car? Drop a comment, share your experience, or just have a laugh – because this story is truly unbelievable!
