Special edition newsletter
FROM FOUNDATIONS TO DETAIL - Projects, Ideas and Trends
What does the Serbian real estate market expect by 2030? - Common ad base, control of the gray economy and energy passports
Illustration (Photo: Pixabay.com/Michael Gaida)
These are some of the market development directions until 2030 which Milić Djokovic singled out, speaking about the goals and plans of the Group of Intermediaries in the Real Estate of Serbia.
According to his words, in the past few years, the market has marked the strengthening of professionalism among participants, but also the continuation of the imbalance between supply and demand, despite stabilization at a high price level.
One of the key problems that should be solved is the gray economy, including illegal mediation without registration in the competent register, unfair competition and advertising of real estate that is not actually available on the market.
- This refers to all types of gray economy, illegal mediation without registration in the competent register, as well as the suppression of unfair competition by offering services that go beyond the scope of business relations, i.e. so-called free work. Greater control of advertisers and reduction of fictitious offers is also needed - stated Djokovic.
One property, multiple listings, and different information
The development of a common database and its own real estate advertising portal should contribute to greater reliability of information available to buyers and sellers.
The idea is to gather in one place the offers of verified brokers who respect the code of business ethics, with accurate data on real estate and its characteristics.
- We expect that it will be a positive shift in business. In one place, with verified data, from verified mediators, who have signed the code of business ethics and have a name and integrity, that is expected. The buyer will know that he is getting accurate information, that the real estate has exactly as many square meters as advertised, etc., and the seller will have good media promotion and a realistic starting price (which is the most common mistake of all sellers) - our interlocutor says.
A particular problem is the fact that the same property often appears in multiple ads, sometimes with different prices, square footage and other information. Such practice creates a distorted picture of the offer and makes it difficult for customers to evaluate what is really available to them.
- Buyers often say that there are thousands of apartments on the market, but there is no suitable property for them. This creates the appearance of a large offer, which is why it is important to work on raising the awareness of both clients, intermediaries and advertisers - Đoković pointed out.
The common base should also contribute to a better monitoring of market trends, especially the relationship between advertised and actual realized prices. According to his opinion, this requires reliable data on realized prices and high-quality real estate value assessments.
In that segment, he sees room for cooperation between mediators and appraisers, as well as for the creation of a common professional database that would enable better information for all market participants.
Energy passports and a larger offer until 2030.
Among the changes that could affect the market in the coming years, Đoković highlights the introduction of the obligation to have an energy passport for real estate that is sold, the increase in supply and the gradual calming down of demand.
According to some forecasts and statistical indicators cited, supply and demand could approach equilibrium during 2031 or 2032. Therefore, he believes that it is important for market participants to prepare for different business conditions.
Djokovic, however, emphasizes that these estimates are conditioned by movements in the economy and other circumstances that intermediaries cannot influence.
Illustration (Photo: Image by Drazen Zigic on Freepik)
Four directions for the Group`s development until 2030.
The group of Serbian real estate brokers presented the Strategic Plan and work model until 2030 at the verification and constitutive session held at the Serbian Chamber of Commerce.
The plan includes four key directions: suppression of the gray economy and unfair advertising, digitization of business and development of common bases and portals, territorial reorganization of work through the chamber system of the Serbian Chamber of Commerce, as well as continuous professional education and strengthening of membership capacities.
The aim is to further regulate the brokerage market, raise professional standards and create more even conditions for the business of registered participants.
At the meeting, Damir Borić from the company Profitim was re-elected as the president of the Group, while Nenad Đorđević from the company Mozaik nekretnine was elected as the vice president.
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