This year, the most expensive apartment sold in Serbia is located in Savski Venac, and it cost EUR 1.22 million. That Belgrade municipality features the highest prices per square meter. They go over EUR 10,000, and a garage space in Vracar costs as much as EUR 73,000, according to the data of the Republic Geodetic Authority. And those who sell apartments say that the prices have been growing for years now, but that the most expensive ones find a purchaser more easily, without bargaining.
If you want to live in Belgrade or some other bigger city, it will cost you more. However, in these times when savings in banks look more like keeping money in a safe than an investment, real estate is in demand.
Prices of luxury apartments in Novi Sad and Nis go up to half a million euros
While, when it comes to smaller apartments, potential purchasers pay attention to the price and the floor area the most, luxury real estate is bought apiece, and the price is dictated by the design, the equipment, the location. There’s no bargaining there, and the payments are made mostly in cash. Such apartments reach half a million euros in Novi Sad and Nis as well.
Floor area prices increased in all of Europe
The growth of the prices of real estate, especially of the luxury type, started during the pandemic. Prices per square meter increased in all of Europe – they even tripled in places. Whether it’s Munich, Milan, or cities in the region, where the money comes from is not questioned too much. Still, our Law on Prevention of Money Laundering and Financing of Terrorism is clear.
There are always those who are trying to find loopholes and launder money from the grey zone through real estate – and that, he says, could partially explain the inflated prices of real estate. On the other hand, Belgrade is becoming the address of an increasing number of foreign and local managers, entrepreneurs, IT workers and others with high earnings.