Apartment Prices Continue Growing in Fourth Quarter of 2023 – Apartments More Expensive by 5.75%

The RGA apartment price index for Serbia in the fourth quarter of 2023 is 158.66%, which is an increase in the prices of apartments by 5.75% compared to the same period last year. Compared to the third quarter of 2023, the prices of apartments in Serbia recorded a negligible growth of 0.83%.

Although the trend of growth continued, after a two-year expansion, the prices of apartments grew slightly less in the fourth quarter of 2023 compared to the previous period, the Republic Geodetic Authority (RGA) says in a press release.

Observed by regions, compared to the fourth quarter of 2023, apartment prices grew in Belgrade by 5.79%, in Vojvodina by 4.67%, in Sumadija and Western Serbia by 5.95%, and as in the previous few quarters, the strongest price growth was recorded in South and East Serbia, amounting to 8.16%.

The prices of apartments in new buildings, that is, purchases from investors, on the level of Serbia, grew 5.41%, whereas the prices of apartments in old buildings had a much higher year-on-year growth, at 5.93%.

– Comparing the apartment price index in Serbia with the indices in European countries, our country is one of the rare ones which has shown a greater resilience toward sudden trend changes in the real estate market due to the global economic turbulence. According to available data, numerous states are recording a more drastic slowing down or drop of the real estate market – the announcement says.

For more information (in Serbian) about apartment prices and real estate market trends, take a look at the latest report on the RGA apartment price index.

The RGA index is developed in line with the international methodology guidelines and enables the citizens and the economy to follow the trends in the real estate market in a simple way, up to date and for free.