Property prices in Belgrade up six percent

Property prices in Belgrade up six percent

Property prices in Belgrade up six percent Izvor: Shutterstock

The National Mortgage Insurance Corporation (NKOSK) said on Thursday that the property prices in Belgrade went up six percent in June compared to the same month last year.

The reasons for the hike in prices both in new and old buildings are the property market stability and favourable bank loans, according to experts from Serbia’s Chamber of Commerce and Industry (PKS).

In the first half of 2018, an average price for a square meter in the central Belgrade districts varied between 1,297  and 1,809 Euros per square meter.

Some appartments cost up to 4,000 Euros per square meter.

“In the first six months of the year, there is always a boom in construction. On the other hand, the bank loans are the cheapest ever in Serbia,” Zarko Malinovic from the PKS said.

However, though the demand for properties has risen in other cities, like Nis in the south, Novi Sad in the north and Kragujevac in central Serbia, Belgrade remains almost the only market that had really functioned for many years, the estate agencies’ owners say.

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