Apartment market in Belgrade slowing down, real estate turnover drops by 5.61% – Rest of Serbia “growing”

According to the data of the Republic Geodetic Authority (RGA), the apartment price index in the second quarter of 2024 amounted to 164.56, which is a growth of 4.68% compared to the same period last year. However, in Belgrade, there has been a slight drop in apartment sales, by 0.57%, and in the value of the turnover, by 5.61%.

Compared to the first quarter of 2024, apartment prices in Serbia grew by 1.26%.

During the second quarter, an increased apartment demand was recorded, with a total of 11,532 agreements, which is 7.5% more than in the same period last year. The total value of the real estate market in this period reached EUR 978 million, which is a growth of 7.3%.

The prices of apartments in old buildings grew 4.41%, whereas those in new buildings grew 5.15%.

Observed by region, the biggest growth when it comes to the number of sales and the value of the turnover was achieved in South and East Serbia, where the sales grew 16.7% and the value 37%. Vojvodina is recording an increase in the number of sales of 14.03% and of the value of 35.7%.

– Compared to European countries, Serbia has a moderate and stable price growth, whereas some countries, like Luxembourg, Germany and France, recorded a drop in the prices of apartment real estate in the same period – the RGA announced.

Republički geodetski zavod Beograd

Republic Geodetic Authority

RGA

apartment price index

apartment market in Belgrade

real estate turnover

sale of real estate