Housing Boom in Serbia: New Complexes Sprout Everywhere, But at What Cost?
Ever wondered how much apartments in new residential complexes across Serbia actually cost? Brace yourself for a shock! New housing complexes are popping up like mushrooms after rain, and the price per square meter in some parts of the country is downright astronomical!
Belgrade Leads the Price Race
Belgrade dominates the real estate market with a whopping 54% of all transactions. The most expensive square meter sold in the capital went for a staggering 11,000 euros! Yes, you read that right – 11,000 euros for one square meter of an apartment! Average prices in the priciest parts of the city, like Savski Venac, Vračar, and Stari Grad, range between 3,000 and 5,000 euros per square meter.
New Belgrade – From Dormitory to Hotspot
Once known as a dormitory area, New Belgrade has transformed into a luxury housing hotspot. Complexes like “Bel Mondo” and “The One” offer apartments priced between 3,000 and 4,000 euros per square meter, with the lowest prices around 2,000 euros. Even neighborhoods like Čukarica, Zvezdara, and Voždovac boast luxury complexes averaging around 3,000 euros per square meter.
What About Other Cities?
Novi Sad, Kragujevac, and Niš are also following the price hike trend, but prices are significantly lower than in Belgrade. In Novi Sad, average prices in new complexes range from 1,000 to 2,000 euros per square meter, while in Kragujevac and Niš, prices are even more affordable, around 1,000 euros per square meter.
Credit or Cash?
Interestingly, only 22% of apartment purchases in new buildings last year were made via loans, which is 5% less than before. This means most buyers either have cash or use other financing methods, making housing less accessible for the average citizen.
Luxury Projects and the Future of Housing
Experts warn that the trend of luxury projects will continue, especially in Belgrade, where apartments will be built for the elite. This could turn Serbia into a modern colony with foreign investors buying properties and commercial spaces, while the middle class is left without affordable housing.
Is This the End of Affordable Housing?
Licensed real estate appraiser Milić Đoković emphasizes the need to build housing for the middle class, like teachers and doctors, otherwise, there is a risk that the real estate market will be completely taken over by wealthy foreigners.
Conclusion
While new housing complexes are sprouting on every corner, prices per square meter in Serbia are soaring to unprecedented heights. Will the average citizen be able to afford their own home, or will apartments become a luxury reserved only for the rich? Drop a comment and tell us what you think about these prices – is this reality or just another bubble in the real estate market?
And remember, if the square meter is too expensive, maybe it’s time to start thinking about moving… or buying a tent! 😉
