The construction sector is facing a labor shortage, with high demand for craftsmen such as painters, insulators and those specializing in finishing works like ceramicists and upholsterers. Due to this shortage, employers are expected to increase salaries for these workers, which could lead to higher prices for square meters in construction. In Belgrade, the average price of a new building per square meter is 2,648 euros, with areas like Savski Venac and Voždovac having the highest prices.
In other parts of Serbia, Novi Sad sees an average price of 2,350 euros per square meter, while in Niš it’s 1,700 euros. The construction market is experiencing a rise in luxury projects, particularly in prestigious areas like Belgrade on the Water and Vračar. With fewer building permits being issued and rising labor costs, prices for apartments in new buildings may continue to increase.
The highest-paying construction jobs are in finishing works and construction engineering, with salaries ranging from 150,000 to 170,000 dinars. Manual workers and auxiliary construction workers are also in demand, with salaries varying between 70,000 and 100,000 dinars, sometimes exceeding 120,000 dinars based on location and project type.
Construction permits in Serbia decreased by 5.5% in January, with the number of issued permits being the lowest in the last year. The shortage of labor could further drive up the price of new construction due to the limited supply and increased wages for workers.
