Same apartment in multiple ads at different prices – What changes will new real estate market rules bring

Apartment buyers in Serbia frequently encounter unrealistic prices and listings that do not reflect the actual real estate supply. Real estate expert Milic Djokovic tells RTS that it is not uncommon for an apartment worth EUR 300,000 to be listed for as much as EUR 400,000. He expects that a unified database of listings will provide buyers with more reliable information.

Apartment prices in Serbia remain high, while buyers often face ambiguous listings, varying prices for the same property and the dilemma of whether now is the right time to buy. Market development plans through 2030 include improvements to the listing system, stricter oversight of real estate agents and the implementation of energy performance certificates.

One of the most significant announced changes is the establishment of a unified real estate listing database, intended to give buyers and sellers a clearer view of the actual market supply. Real estate expert Milic Djokovic explains that, currently, the same property is often listed multiple times, with inconsistent data regarding square footage, floor level and price, which creates a distorted picture of the number of apartments available on the market.

– Right now, we have a false impression that there is an ample supply of real estate. The same apartment keeps appearing in listings with varying square footage, layouts, prices and floor levels – points out Djokovic.

As an example, he notes that one portal might list 11,000 properties, while, by his estimate, only two to three thousand are actually available for purchase.

– You go to a portal and see 11,000 properties listed. Of those, only two or three thousand are actually available for purchase, and the rest are duplicates – says Djokovic.

He mentions that work on a unified database began last year under the auspices of the Real Estate Brokers Group within the Chamber of Commerce of Serbia.

– It is a major, serious undertaking. Everything needs to be harmonized and organized through software. The database is already being populated, and I hope it will be ready by spring – Djokovic points out.

How to verify if a real estate agency is operating legally

Addressing the issue of the shadow economy among brokers, Djokovic advises citizens to check whether an agency is registered and whether its agents hold the appropriate licenses before engaging their services.

– There is a Register of Real Estate Brokers maintained by the Ministry of Trade. You can check an agent's license number there, as well as the firm's insurance status. An agency must carry liability insurance, and its agents must be licensed – explains Djokovic.

He emphasizes that agencies are required to include their registration number in advertisements, allowing buyers to verify who they are dealing with.

He also believes that better alignment is needed between the brokers' register and the data held by the Business Registers Agency, particularly regarding the number of employees.

– A good solution is for a person to finally know whom to turn to, to have professionals behind it, someone who is licensed and carries insurance – emphasizes Djokovic.

Privredna komora Srbije

Chamber of Commerce of Serbia

CCIS

Milić Đoković

real estate

sale of apartments

apartment prices

energy passport