According to data from the Republic Geodetic Authority (RGZ), Serbia’s housing price index in the second quarter of this year reached 182, marking an increase of nearly 5.8 percent compared to the same period last year. In the first quarter, 12,650 property sales contracts were signed—8.5 percent more than in the previous year.
Real estate expert Ervin Pašanović emphasized that Serbia’s property market is one of the few truly free markets where prices are determined solely by supply and demand. He also noted that around 90 percent of the population owns some form of real estate. “Property prices are always rising. In Serbia, unlike in Western countries, there’s a strong belief that everyone should own at least one home. People often judge success by whether they have secured an apartment for their children—these are major life investments that also bring great stress,” said Pašanović.
He added that prices are likely to continue rising, as 40 percent fewer construction permits were issued in Belgrade compared to last year, even though demand in the capital remains the highest.
High demand for garages
Real estate agent Milić Đoković noted that prices are stable, with no sudden fluctuations, describing the market as safe for investment even in uncertain times.
“It’s interesting that about 40 percent of apartments in Belgrade are bought through mortgages. When we reach 50 percent, we’ll be able to say we have a well-developed market. As for garages, they are mostly bought in cash,” Đoković explained.
He added that garages are currently in high demand and represent a profitable investment because of limited supply and even waiting lists for many locations.
“The demand for garages, both for purchase and rent, is very strong due to the obvious parking shortage. Rental prices range from €70 to €300 per month, while sale prices range from €20,000 to €60,000, depending on size, which typically varies between 12 and 18 square meters,” Đoković concluded.
