Real estate getting more and more expensive – is square metre in BELGRADE the most expensive in the region?

Real estate prices in Serbia are increasing year by year. Larger towns, especially the capital, have seen the largest increase in prices of square metres. Are we following Europe’s trend when it comes to increase in prices of real estate and in which cities in the region one needs to pay the most in order to purchase a real estate? The most expensive apartments in Belgrade are located in the Belgrade Waterfront. It was at this very location that an apartment was sold for EUR 1,320,000 last year, hitting record when it comes to sale of the most expensive square meter – its price was EUR 8,683. However, according to a survey by real estate website 4zida.rs, the most expensive municipality in Serbia is Belgrade Municipality Stari grad. If you want to buy an apartment in this very municipality, you will find the most affordable real estate in Kopitareva gradina, where average price of advertised apartments on this website is EUR 2,086 per square metre. The most expensive apartments in the Municipality Stari grad are in the central part of the capital – Knez Mihailova Street. The average price of advertised flats in the old build on Belgrade’s main street is EUR 3,426 per square metre. However, for this location, the highest price increase was in the first quarter of 2019, when square metre was EUR 4,061. Prices of square metres in Belgrade are almost two times higher than those in Sarajevo and Skopje, where there is no more dramatic increase in real estate prices. However, housing prices continue to rise in Croatia. According to the Croatian National Bureau of Statistics, real estate prices have increased by as much as 10.4 percent over the past year. However, the most expensive square metres in Croatia are not only in Zagreb, but also on the coastal region – in Dubrovnik, Split and Zadar. While apartments in both Belgrade and Zagreb are in high demand, square metres of houses in Split and Dubrovnik are more expensive than apartments. According to list on the GlobalPropertyGuide website, with an average price of EUR 1,978 per square metre Zagreb is below Ljubljana (EUR 3,657 per square metre), Budapest (EUR 2,515 per square metre), but also Belgrade (EUR 2,239 per square metre). Real estate experts in Croatia say that although a sharp increase has been noticeable in recent years, real estate prices have not yet reached the level of 2008.