Real estate turnover decreased in Belgrade, but prices are not dropping yet
In the third quarter of this year, €456 million were spent on the purchase of apartments in Belgrade, which is a drop of 21 percent compared to the same period of the previous year. The decrease in traffic did not yet affect the drop in real estate prices in the Serbian capital, Kaca Lazarevic, a real estate agent, told N1.
"The drop in traffic on the real estate market is a consequence of the political situation and the difficult economic situation. The real estate market in Serbia is not affected by the same factors as in the rest of the world. Although the lower demand should affect prices being lower, this will not happen soon," Lazarevic told N1.
She pointed out that when it comes to old buildings, there are ways to influence the price of the apartment and slightly correct it, but when it comes to new buildings, such a thing is impossible.
"Prices in new construction are unrealistically high, especially if you buy a larger apartment with, for example, two garage spaces. Just for that money for garage spaces, maybe with a bit of luck, you can buy a smaller apartment in an old building," Lazarevic explained.
According to her, the greatest demand for apartments is still in Vracar, certain parts of the Old Town and in New Belgrade.
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