Real estate expert Kaća Lazarević pointed out that the current real estate market is experiencing slow sales and urged investors to focus on building apartments that meet the needs of the market.
According to Lazarević, the demand is for apartments priced between 100,000 and 200,000 euros, particularly for young people. She emphasized the importance of providing affordable options for this group, stating that there’s no need to aim for excessively high profits. “These are the types of apartments that are in demand for young people, and we must consider their needs,” she told Tanjug.
Lazarević also discussed several factors contributing to the stagnation in apartment prices, including the issue of legalization. If the law allowed for it, legalization would increase the availability and variety of properties on the market. Another challenge is the large number of properties still pending in the cadastre, which are preventing many apartments from being offered for sale. “If the cadastre became more efficient, as we’ve been talking about for years, there would be a significant increase in supply, leading to a correction in real estate prices,” she explained.
She noted that there are not enough well-priced, quality apartments available for young couples, and the cost of loans remains high. Many potential buyers are faced with a difficult choice: they might have 100,000 euros to spend, but when they consult with an agency, they’re told there’s nothing available in their price range. This, she believes, is a major problem, as it’s a large amount of money for anyone to save, only to find out they can afford to buy an apartment in a distant suburb instead of a more desirable location. For married couples with decent incomes, however, it’s possible to consider a larger budget of up to 200,000 euros. According to Lazarević, this is the average price range for most buyers.
While investors who build higher-end apartments face less risk, as these properties can be rented or sold to companies, Lazarević emphasized that the trend is shifting. There has been an increase in demand for apartments from professionals like psychologists and psychiatrists, who are willing to rent high-quality apartments for 1,500 to 2,000 euros. However, the rental market fluctuates—sometimes, there are many high-quality apartments available, but few takers. The rental market in areas like bars is also struggling, she added.
Lazarević explained that Serbia lacks a stock exchange or any other means for people to store their money, meaning that inflation erodes the value of savings that aren’t invested. Real estate, in her view, remains an attractive option for investment, but potential buyers must be willing to make some compromises.
She pointed out that some older parts of the city, which are well-built, offer good quality of life, with plenty of greenery and parking options. Neighborhoods like Braće Jerković and Medak 1, 2, and 3 provide accessible, affordable housing for people who can’t afford to live in the center of Belgrade.
Lazarević also discussed the pricing trends in Belgrade’s real estate market, noting that the most expensive properties per square meter are in high-end neighborhoods like Vračar, Senjak, and Dedinje, as well as in New Belgrade, where entire new complexes are being built. The prices in these areas are largely predictable. For older properties, the price per square meter typically ranges from 2,500 to 3,500 euros, depending on the apartment’s condition.
