Real estate prices in Belgrade and Novi Sad are experiencing moderate growth, with an annual rate of about 5%. Apartments account for over 50% of the total real estate market turnover, while houses, agricultural land, and commercial spaces remain stable or show slight growth. The market remains stable despite global and political challenges, including the war in Ukraine and rising interest rates. The most sought-after locations are Belgrade and Novi Sad, with growing interest also in the southeastern regions of Serbia. Buyers mostly finance purchases by selling other properties, and real estate is considered a safe investment compared to securities or government bonds. The most expensive square meter of an apartment was sold in Belgrade at around 11 euros, while the most expensive houses and commercial spaces are also in the capital. Credit activity in the real estate sector has increased, with a higher share of purchases financed by loans.
Political Perspectives:
Left: Left-leaning sources emphasize the social impact of rising real estate prices, focusing on affordability issues for average citizens and the need for government intervention to ensure housing accessibility. They highlight the risks of speculative investments driving prices up and call for stronger regulations to protect renters and low-income buyers.
Center: Center-leaning sources report on the steady growth of the real estate market, emphasizing market stability and moderate price increases. They focus on data and expert opinions that suggest the market remains a safe investment despite external challenges like the war in Ukraine and rising interest rates. The narrative is balanced, noting both opportunities and challenges for buyers and investors.
Right: Right-leaning sources highlight the real estate market as a strong investment opportunity, underscoring the stability and resilience of property values even amid geopolitical tensions. They emphasize the role of private investment and market forces, often downplaying the need for government intervention. The narrative supports the idea that real estate remains a preferred asset class for wealth preservation.
