Photo: freepik.comAlthough real estate prices are constantly rising, the demand for them is not decreasing. Most of the investments are in apartments and construction land, so two billion euros were invested in the second quarter of this year, which is 27.5 percent more than in the same period last year. Credit buyers are decreasing due to inflation, and those who have savings are buying apartments instead of saving money, experts say.
The average real estate buyer buys an apartment that costs from 100,000 to 200,000 euros. They are mostly bought by families. It is increasingly difficult to find a large enough apartment for a family of four for 100,000 euros, experts say.
"But if they want a two-bedroom or two-and-a-half-bedroom apartment, then they have to allocate 150,000 to 200,000 euros so that the apartment is of high quality, without having to be renovated," points out Katarina Lazarević from the real estate agency.
Real estate is getting more expensive, but despite that, more are being sold, according to Cadastre data. Most of the shopping was done in the parts of the city near the rivers and in the central city municipalities. The most expensive house was sold on Savski venac for 2.9 million euros, while the most expensive square meter apartment was sold in "Belgrade Waterfront" at a price of 9,500 euros per square meter.
The supply is still greater than the demand, say experts, although in two years it could equalize.
"Inflation in real estate is a known trend in crises, the Ukrainian-Russian crisis only accelerated this, as well as the world recession, so prices jumped, but above all the amount of the price per square meter, not the value of the square meter," explains Milić Đoković, an economic expert.
WHY ARE THERE FEWER CREDIT BUYERS
As new buildings are being built, the price of old buildings is increasing, so for a square meter apartment in Konjarnik, you need to allocate 2,000 euros, while the most expensive square meter apartment in an old building in the municipality of Stari grad is 5,000 euros.
A square meter of real estate in Mirijevo and Zvezdara is more expensive on average by 300 to 400 euros.
This year, 88 percent of properties were paid for in cash, while purchases on credit are three percent less than last year.
"There are fewer and fewer loan buyers, the reason is the announcement of high interest rates, i.e. the change in the interest rate, and then people are unsure whether they will be able to repay the loan they take out and how much it will grow," says Lazarević.
Apartments are increasingly being bought by young people from all parts of Serbia, those who, after completing their studies, decide to stay in Belgrade and find a job there.
WHAT ARE SAFE INVESTMENTS?
“If you don't have a lot of money, buy a garage, then rent a garage, that's it. If you have relatively little money, then a little more, buy two garages, then rent them out again. If you have more money, buy an apartment, a flat for a day, etc. Therefore, only real estate remains and survives as safe investments," advises Đoković.
With our salaries and provided that real estate prices do not rise any more, an average apartment of 60 square meters should save for the next 20 years. And to set aside about 400 euros per month.
However, this calculation requires time and sacrifice, which is why fewer and fewer people decide to do it. Recently, people who have savings are buying apartments instead of saving money, experts say. And that is one of the reasons that real estate turnover is the highest in recent times.
Source: rts.rs
