Value of real estate grows – Most expensive square meter sold in Belgrade Waterfront

The total value of the real estate market in Serbia, in the first half of 2024, amounted to EUR 3.4 billion, which is a growth of 3.9% compared to the first half of the previous year, as announced on the website of the Republic Geodetic Authority (RGA).

The real estate market is showing stable dynamics, with 60,154 sales and purchase agreements, which is a marginal increase of 0.2% compared to the same period last year. In this period, there was also a continuation of the moderate growth of apartment prices, with an annual growth rate of 4.68%.

The majority of the total value of the transactions in the real estate market was invested in apartments, with an amount of EUR 1.8 billion and a share of 54% of the total transaction value. EUR 273.8 million (8%) was set aside for the purchase of houses, EUR 261.5 million (8%) for building land, EUR 150 million (4.5%) for office spaces and EUR 117.5 million (3.5%) for agricultural land.

The City of Belgrade is dominant when it comes to the total value of the sold apartments, with a share of 57%. In addition to that, Belgrade has the biggest share in the value of sold garage spaces (69%), office spaces (57%) and building land (51%). On the other hand, the Vojvodina region is leading the way when it comes to the sale of agricultural land, with a share of 69%, as well as houses (40%) and vacation houses (50%).

When it comes to the highest prices of the real estate sold in Serbia in the first half of 2024, the most expensive square meter was sold at a price of EUR 10,350 in Belgrade in the Belgrade Waterfront location, whereas the biggest sum set aside for an apartment in Belgrade amounted to EUR 1,226,888. The most expensive house was sold in Savski Venac for EUR 3,182,000, whereas the most expensive garage space went for EUR 73,000 in the Belgrade municipality of Vracar. The most expensive square meter of office space was sold in the Belgrade municipality of Vracar for EUR 11,500, and the highest price for office space was EUR 3,098,790. The most expensive agricultural land in the Republic of Serbia in the first half of 2024, for which EUR 2.2 million was set aside, was sold in the territory of the municipality of Palilula (City of Belgrade).

The full report (in Serbian) can be viewed HERE.

Republički geodetski zavod Beograd

Beograd na vodi d.o.o. Beograd

RGA

Belgrade Waterfront

value of real estate market in Serbia in first half of 2024

investments in apartments

purchase of apartments

purchase of houses

purchase of agricultural land

purchase of office space

purchase of garages