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The Geodetic Authority of the Republic (RGZ) has published a report on the real estate market for the third quarter of 2020.
RGZ notes that the real estate market in Serbia is completely transparent because all data on real estate transactions is publicly published in the Real Estate Price Register (RCN), which is available on the RGZ website and on the GeoSrbija digital platform.
During the third quarter of 2020, notaries and basic courts presented 43,535 contracts to the Geodetic Authority of the Republic. The number of real estate contracts registered for the third quarter of 2020 was 29,130 and for the third quarter of 2019 it was 28,478, so there is a notable increase in turnover. real estate in Onos during the same period last year, “RGZ said.
The highest prices in the third quarter of 2020.
The most expensive square in Serbia in the third quarter of 2020 is in the exclusive location of Belgrade on the water and cost 9,019 euros per square meter, and for the same apartment the most money was allocated 883,888 euros. The first seven most expensive apartments, at unit price, were sold in Belgrade over the water, according to RGZ
As for old buildings, the highest price per square meter was paid 4,301 euros for an apartment in Vracar, and the highest amount of money, 1,461,000 euros, was reserved for an apartment in the old town.
The most expensive square meter of office space was traded at Kopaonik, while the highest contract price for office space was held at Vracar, adds RGZ.
Among the land intended for industrial construction, Šimanovci in the municipality of Pećinci and Novi Sad are in first place.
In the turnover of houses, the highest contract price was made on the territory of the municipality of Savski venac.
The highest price per square meter of agricultural land was achieved in Novi Sad and the highest contract price in Kula.
Way to pay
In the third quarter of 2020, real estate was paid for 87 percent of turnover in cash and 13 percent with credit funds, according to the RGA.
Observed by types of real estate, the land was paid more in cash: at 99% of the land turnover.
The purchase of apartments was financed mainly with credit funds, 28 percent, while 72 percent of the apartments sold were sold for meat.
On the basis of contracts registered in RCN, the total volume of funds in the real estate market in the third quarter of 2020 amounted to more than 1 billion euros. Most of the total funding was for apartment turnover: 57 percent.
Trends in the participation of different real estate typologies
The trends in the participation of different types of properties in total turnover, observed by quarters since 2019, have not changed significantly in the third quarter of 2020, according to the RGA.
Apartments
Of all types of real estate, apartments are most frequently traded in Serbia, yet the share in Q3 2020 was 28 percent and decreased by 4 percent compared to the same quarter in 2019 .
Residential real estate
The share of residential properties in total billing is also increasing, according to the RGA. Compared to the third quarter of 2019, the share of residential real estate turnover in total turnover is higher by 1 percent and increased in all cities: in Belgrade by 21 percent, Nis by 22 percent , Kragujevac by 20 percent and Novi Sad by 40 percent.
Cabins
Compared to the third quarter of 2019, there was an increase in the number of cabins in transit. The number of cabins sold on the territory of the Republic of Serbia in the third quarter of 2020, compared to the same period last year, doubled: from 225 to 454 turnover, according to RGZ.
Interestingly, the jump in residential traffic growth was recorded during the second quarter of 2020 and this trend continued into the third quarter as well. Although the number of cabins sold is expected to be higher in tourist places, spas and mountains, an increase in the number of cabins sold near the place of residence has been noted.
The biggest jump in the number of cabins sold compared to the third quarter of 2019 was recorded in Novi Sad: from 8 to 35 cabins, or 4.5 times.
Farmland
In the third quarter of 2020, the share of agricultural land in total real estate turnover was 15 percent.
buildable land
In the third quarter of 2020, there was an increase in the turnover of construction land compared to the same period last year by almost 2,000 turnover, that is, an increase in the share of the turnover of construction land in the total turnover by 1 percent, according to RGZ.
Construction land turnover in relation to the third quarter of 2019 increased in all cities, in: Belgrade by 60 percent, Nis 28 percent, Kragujevac 51 percent and Novi Sad by 75 percent.
The reasons for this must be sought in the implementation of public policy measures that influenced the change of legal regulations in the field of planning and construction, the transparency of procedures before the State and other organizations, the introduction of electronic procedures, acceleration of construction permit procedures and other parameters. the position of our country in the World Bank’s international list that measures the ease of doing business (Doing Business) ”, said the RGA.
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