Belgrade is not for all budgets: is it better to rent than to buy an apartment?

The changes brought about by the global pandemic over the past year and a half have also affected the dynamic real estate market in Serbia.

Less migration within the country and more time spent at home has resulted in a surprising downward trend in the market value of rental properties, when the exact opposite has happened with regard to the selling price of houses and apartments in Belgrade.

As the situation with the pandemic slowly calms down, the economic consequences as well as the changes in various sectors are still unfolding and we will certainly feel them in the coming period in the real estate sector as well.

If we take into consideration that the city of Belgrade is the most dynamic in terms of the real estate market in Serbia, it is clear that it is here that the greatest price turbulence was observed during 2020 and the first. half-year 2021. Indeed, rental prices fell by 4.8%, while the prices of apartments for sale increased by about 21.1%.

Traditionally, the most popular areas of Belgrade, the municipalities of Stari Grad and Savski Venac, still hold the record in terms of price per square meter of residential property for rent, however, compared to last year, it is now less expensive to rent a dish.

When talking about the fluctuations in the price of square meters of housing in the capital, one must take into account the large number of apartments in Belgrade that are rented for short periods (so-called daily rentals), and that the global crisis and the downward movements have considerably affected the rent, and consequently the price of the monthly rent. Thus, the largest price reductions were recorded in Novi Beograd, (-8.1%), Savski Venac, (-5.6%), Stari Grad, (-5.5%), Palilula, (-4 , 8%) and Voždovac (-4.6%).

(B92, 06.29.2021)

This article is also available in: Italiano

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