The Serbia Center Party (SRCE) is calling on the Ministry of Finance and Tax Administration to investigate the source of funds behind the record-breaking real estate transactions in Belgrade’s prestigious “Belgrade Waterfront” neighborhood. According to official data from the Republic Geodetic Institute (RGZ), last year’s highest price per square meter for a new apartment reached €11,811, while an old building apartment of 342 square meters sold for as much as €2,575,000.
SRCE highlights that the Law on Determining the Origin of Property, promised by the Serbian Progressive Party since 2012 and passed only in 2020 with amendments in 2021, has not been effectively enforced. This law requires tax authorities to act if there is a discrepancy exceeding €150,000 between a person’s asset increase and declared income over three years.
The party questions how much income was declared by buyers of high-value properties, such as a €4 million house in Savski Venac and a €73,000 garage in Vračar. RGZ data show that only 10% of real estate purchases last year were financed by loans, with the rest paid in cash—a slight increase in credit use compared to 2023, when only 7% were loan-financed.
SRCE demands that the Tax Administration explain the origin of such large amounts of cash in the market and disclose how many investigations have been initiated. So far, investigations have occurred only when certain protected individuals allegedly “got out of control,” the party claims.
