Apartments cheaper by 5 to 15% - NUPS launches initiative for registration of sales of new apartments to prevent frauds

National Association for Improvement of Quality in Real Estate Trade in Serbia (NUPS) is going to launch the initiative for development of information system or books in which all the investors or agencies that sell new apartments will be obliged to register that sale in order for everybody to be able to check whether some apartment has already been sold.

According to the words of the Vice President of NUPS, Milosav Teofilović, that campaign will be introduced to prevent apartments from being sold more than once. He also announced the initiative for extraordinary registration.

The President of the Supervisory Board, Milić Đoković, pointed out that the banks should renounce high interest rates and reduce the fees for building land, which would result in drop in prices of apartments by up to 30%. Đoković says that the prices of apartments have been decreased by 5 to 15%, and that the number of credit buyers has dropped by 60 to 70%.