How Apartment Prices in Serbia Moved in the First Quarter of 2024

How Apartment Prices in Serbia Moved in the First Quarter of 2024

According to the report of the Republic Geodetic Authority, apartment prices in Serbia increased by 4.74% in the first three months of this year compared to the same period last year, with old construction prices rising by 4.52% and new construction by 5.09%.

Compared to the fourth quarter of 2023, apartment prices in Serbia recorded a slight increase of 0.78%, indicating that the real estate market remains stable. This marks the sixth consecutive quarter of a slowdown in price growth.




Decline in Apartment Sales Volume


In the first quarter of this year, 10,186 apartment sales contracts were recorded (0.7% less than the same period last year), with a total value of 834 million euros (2.5% less than last year).

However, certain regions (Šumadija, western, southern, and eastern Serbia) recorded increased apartment sales. Conversely, Belgrade experienced a decrease in apartment sales by 6.5% and in the sales value by 10.13%. Similarly, in Vojvodina, the number of apartment sales decreased by 4.32%, while the sales value fell by 0.56%.





Price Movements Compared to the Same Period Last Year


Regarding apartment prices, compared to the first quarter of 2023, prices increased by 5% in the region of Vojvodina, 4.5% in the city of Belgrade, and 3.49% in Šumadija and Western Serbia. As in the previous few quarters, the strongest price growth of 7.16% was recorded in Southern and Eastern Serbia.

When comparing the apartment price index in Serbia with indices in European countries, Serbia had moderate and stable price growth.

Latest Posts