Sales of luxury apartments and villas in Serbia grew for the third consecutive quarter, while the mid-price housing market stagnated.
There are three main reasons for this:
Great demand from investors. Entrepreneurs, both local and foreign, are increasingly investing in luxury real estate, viewing it as a reliable asset.
Unique features. Luxury properties offer unique features such as panoramic views, terraces, swimming pools, private parking and high-quality service, making them more attractive to wealthy buyers.
Price drop in Europe. Falling property prices in some EU countries make luxury properties in Serbia even more attractive for investment.
The most popular places to buy in Belgrade are: Dedine, “Belgrade on the water”, Vracar, Dorcol, Novi Belgrade. For Novi Sad these are: Fruška Gora, Petrovaradin, Sremska Kamenica.
Among the interesting trends in the housing market is that customers are moving towards buying entire floors of residential buildings or entire mini-blocks. "Smart houses" that have automated control systems have an advantage. In the event that buyers are oriented towards closed-type complexes, those with private pools, SPA centers, sports facilities have the advantage.
Real estate analysts predict that luxury property prices in Serbia will continue their upward trend, but the rate of growth may slow.
At the same time, the prices of houses in the middle price range are unlikely to decrease significantly in the near future. This is due to high construction costs, rising utility prices and inflation.
You can see detailed statistics on average property prices in Bulgaria by cities and neighborhoods HERE