While real estate prices in the region, and beyond, are falling due to the influence of the corona, in Serbia the trend is completely different. The price per square meter is rising, but so is the demand, which, according to market participants, is now at a record level. In some places, the average prices have increased by more than six percent in the last month alone. And that is just the beginning of growth, they claim, giving arguments.
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The rule is that the price is mostly influenced by the ratio of supply and demand, and now the situation is such that the supply is less than the purchase request, and that is exactly what maintains and “pushes” the price per square meter in Serbia. So, say, today a square meter in the center of Belgrade costs around 2,470 euros on average, which is a growth of 1.6 percent in the last month alone.
It happens in Serbia that it is demand for real estate is very high, especially in larger cities, and it can be said that it is at a record level.
– Why is the demand so high? In this area, people invest their capital in real estate, because they do not have the habit, nor do they feel safe to invest money in a different way, through savings in banks, securities or, for example. gold. On the other hand, if we are not talking about cash buyers, housing loans have never been more favorable, and that also affects the increase in demand – explains Anita Pesic, and adds that preflection is particularly high in new construction, and this is where the potential for price growth lies.
– There are indications that it will to increase the contractor’s price of works due to the announced increase in the price of raw materials. We will see how the price will move and whether investors will have room to raise the price per square meter. A lot is being built, but considering the demand, it can be even more – because there are interested buyers – said Pesic.
In the region and in some other more developed European countries, the price per square meter is falling at the same time. In Poland, for example, real estate prices fell from quarter to quarter for the first time since the first quarter of 2016. Analysts there have noticed that the trend is changing throughout the country. In the seven largest cities, which are also the most important construction markets in Poland, the average price per square meter decreased by 0.8 percent.
We don’t have to go that far because the situation is similar in our neighborhood. In Montenegro, at the end of last year, the price was 11.3 percent lower compared to the same period a year earlier and amounted to about 1,007 euros. According to the local statistical office Monstat, the average price per square meter in a new building in Podgorica in the last quarter of 2020 was 985 euros, and in the coastal region it was 1,359 euros.
Source: Gradjevinarstvo.rs – VESTI by www.gradjevinarstvo.rs.
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