Property prices in Serbia will not decline in the foreseeable future, but experts predict that their growth will slow down during 2020 to increased supply.
In addition to the Serbian citizens, the apartments are also purchased by the Serbs from the diaspora, as well as by foreigners who are working in Serbia or have some emotional connection to the country.
There is also a growing demand for holiday homes around Belgrade, which cost between 30,000 and 50,000 euro.
Most of the apartments that are under construction are located in Vozdovac, Zvezdara and Novi Beograd. Of the total transactions on the real estate market in Serbia, 44% in 2018 was made in Belgrade. Last year, 3,500 new square meters were built in Novi Sad and 6,000 square meters in Belgrade, 10% more than in 2017. Prices increased by 9% last year compared to the previous year.