Photo: Nikola Rakic on UnsplashDue to the huge demand, which exceeds the supply, real estate experts warn that there are currently several thousand properties for rent missing, and that prices in certain locations have risen by at least 30%. When it comes to real estate transactions, compared to last year, there are no major changes.
With the ever-increasing prices of square meters of real estate in Serbia, the price of renting apartments has also increased, from studio apartments to larger three-bedroom apartments. Previously, a studio apartment in Novi Sad could be rented for 120 euros per month, however, this year, real estate prices have increased both when buying and renting.
Depending on the equipment and the square footage, the rent for a studio apartment in Novi Sad ranges from 150 to 300 euros, but, as Milka Simić from the National Real Estate Agency says, there is a lack of apartments for rent on the market.
"This year, apartment prices have risen drastically compared to last year, and apartments of all categories and in all locations." Studio apartments are 30% more expensive and currently there are none, and they are in the highest demand. It is a complete deficit. There is also a shortage of other apartments, with larger square footage, the price of which has also increased. The demand for larger apartments is lower, but they are not available either," says Simićeva.
Students who do not have the right to stay in the dormitory are looking for an apartment. High rent prices are a big problem for them.
The situation with the purchase of apartments has not changed much compared to last year, even, according to estimates, the turnover of real estate increased by 1%. The situation is similar in Novi Sad, says Milka Simić, adding that the most common customers are employees in the IT profession and our people who work abroad.
"The demand for apartments in Novi Sad is huge. A large number of people come from the interior, perhaps more than in Belgrade. They are taken by developers, who no longer want to be tenants. There are a lot of younger people, as well as those from the diaspora," he says.
According to the data of the Republic Geodetic Institute, compared to last year, the turnover of real estate increased the most in Kragujevac, Belgrade and Novi Sad.
Ivana Štrbac, head of the department for conducting real estate valuation at the institute, says that the purchase of real estate from loans has decreased, so that most of them are paid in cash and that buyers are more careful when taking out housing loans, due to the increase in interest rates.
"The majority of buyers have been paying for real estate in cash for many years, and not through credit, which is not the case in the West." It is interesting that, compared to last year, there was a decrease in purchases on credit, which in previous years amounted to about 30%, while in this quarter 27% of apartments were paid for on credit. Considering the overall situation with interest rates and the increase in the reference interest rate, it was to be expected that people would be more cautious about borrowing money," she stated.
Despite the fact that real estate is becoming more expensive, Štrbac says that the amount of money in real estate transactions has increased, and buyers are increasingly looking for real estate. According to him, people are afraid of inflation and believe that their money will be safer if they buy some real estate, and that is why a drastic drop in demand for real estate is not expected, writes rtv.rs.
Source: rtv.rs
