THE BIGGEST NUMBER in Belgrade: Banks selling 806 properties that ENDED UP ON THE MARKET due to DEBTS

A total of 806 mortgages are currently active in Serbia. That is how many apartments, shops and other real estate banks are selling, as their debtors cannot repay loans. The biggest number of advertised real estate is in Belgrade – 108. There is a total of 40 in Novi Sad with neighbouring region, 18 at the territory of Nis, 32 in Subotica and 14 each in Kragujevac, Kraljevo and Paracin, website „Dobos“ reports, which contains the list of all bids. When compared to a few years before the number of real estate for sale is significantly lower – for example in comparison to 2016, when only Belgrade had 250 such properties. The reason is that at the time many families were unable to repay housing loans due to poor financial situation and low standard. In those years, non-performing housing loans accounted for up to 20 percent of total loans approved, and today this percentage is around five percent, the „Blic“ daily newspaper reports. Although the price of confiscated real estate is lower up to 50 percent than the market value, banks still struggle to find owners. At the outskirts of the capital, in the urban neighbourhood of Ledine, one can purchase an apartment of 47 square metres at the price of only EUR 13,337, while a 86-square metre apartment in Zemun can be purchased for around EUR 45,000. A residential family building of slightly more than 90 square meters in Vranje, with surrounding land, costs EUR 8,366, and a three-bedroom apartment of 88 square meters in the Municipality of Palilula in Belgrade costs slightly more than EUR 45,000. However, above the price is often a superstition – because when people hear that the apartment is sold by a bank, which has confiscated it from someone, many potential buyers give up, real estate agencies claim.

Izvor: Blic

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