Residential market situation in Serbia & Investment Perspective

Besides shopping malls, office space and logistics centers, residential projects currently probably constitute the most dynamic segment in an allover pattern of the real estate development in Serbia. We can openly say that this portion of the real estate together with office space has come most closely to the world already existing standards but still very demanding in our own market.
During the past decade, Serbian residential market has been influenced by many factors which included the political and economical situation and overall standard of the population. Due to these reasons, no extensive development or construction activity occurred in this period in the major Serbian cities causing a large gap between the present housing supply and the anticipated needs. Because of population migrations on micro and macro level and the overall development of the country, most effectively depicted in its economy revival, it is expected that the demand will steadily grow in the coming years. Additional support is expected to arrive in shape of constant strengthening of the macroeconomic picture and widening credit options.
The economic and demographic composition of the population of Belgrade and other big Serbian cities and the constant and steady growth of its economic capabilities has influenced the growth of supply and demand for high-middle and high-end units. Apartments in central area of Belgrade sell for 1,700 to 2,000 EUR/m2. Depending on the exclusivity of the location, the prices can go up to as high as 3,000 EUR/m2. There are several large scale projects in the pipeline with amenities and finishing works which should meet the need of even the most demanding buyers.