The real estate market in Belgrade shows signs of stabilization, with a slight increase in prices in new buildings and stagnation in old buildings. Interest rates on loans are expected to fall in 2024, which could stimulate the market and increase the number of real estate purchases.
Although prices are high, the demand for quality apartments in attractive locations such as New Belgrade remains stable, and investors are adapting to market conditions by offering different options for buyers.
In New Belgrade, one of the most dynamic parts of the city, apartments that offer a modern lifestyle and affordable conditions are the most sought after. Analysis of the real estate market for March 2024 shows several main features that attract buyers.
The popularity of apartments in new construction
Newly built apartments are extremely popular. These apartments offer modern infrastructure with modern amenities such as energy efficient systems, advanced security solutions and high quality construction.
According to director Predrag Nikolić from the Predrag Nekretnine agency, the price of a square meter in a new building in New Belgrade is 3,007 euros, which represents a slight decrease compared to the previous month, but also a significant increase compared to last year.
This indicates continued demand, despite rising prices. The average square footage of the apartments in the new building is 62 square meters, which makes them ideal for couples and smaller families looking for a functional and comfortable space.
Apartments in old buildings: Affordable prices and larger square footage
On the other hand, apartments in old buildings are still in high demand due to the more favorable prices. According to the data of RGZ, as well as the real estate agency Novi Beograd, the price per square meter in the old building is 2,511 euros. Although the price is stable compared to the previous month, it is still more affordable compared to new construction, which attracts buyers on a budget.
In addition, the older parts of New Belgrade often have better developed communal infrastructure, proximity to schools, kindergartens, shopping centers and other important amenities, which further increases their attractiveness.
Also, old buildings offer larger square footage at lower prices, which is attractive for larger families looking for more spacious homes.
Customers are increasingly choosing more rooms and good connectivity
Buyers in New Belgrade are increasingly opting for multi-bedroom apartments because of the flexibility and space they provide for families. Two-bedroom apartments are particularly popular because they offer a balance between price and functionality. They are attractive for young couples and families with one or two children, because they provide decent living space at a relatively affordable price.
Locations with good traffic connections, proximity to main roads and public transport stations play a crucial role in choosing an apartment. Apartments located near commercial and business zones, such as TC Ušće and business complexes in New Belgrade, additionally attract buyers due to practicality and saving time on daily tasks.
In addition, apartments in complexes with green areas, parks, sports fields and children's playgrounds are in high demand. These facilities provide quality living space for families with children, allowing them to spend more time outdoors and participate in various recreational activities.
Future trends and predictions
New Belgrade, as one of the most developed parts of the city, will continue to attract buyers and investors. Steady growth in real estate prices and continued construction of new complexes suggest that demand will remain high.
The construction of modern residential complexes that include energy efficient systems and advanced security solutions is expected to continue. These features make new apartments more attractive compared to old buildings, especially for young families and professionals looking for a comfortable and safe living space.
This combination of modern housing options, well-developed infrastructure and favorable prices makes New Belgrade one of the most desirable areas for buying an apartment in Belgrade.
Conclusion
Real estate in New Belgrade continues to attract great interest from buyers and investors thanks to the stable market and diverse offer. Despite the high prices, the demand for quality apartments in attractive locations remains stable.
New construction is particularly popular due to modern infrastructure and high quality of construction. The price per square meter in a new building is 3,007 euros, which represents a slight decrease compared to the previous month, but also a significant increase compared to last year. Apartments in old buildings, with an average price per square meter of 2,511 euros, attract buyers due to more favorable prices and larger square footage.
Apartments with several bedrooms and good connectivity are the most sought after. Proximity to business and commercial zones, as well as apartments in complexes with green areas, are high on the list of buyers' priorities. The combination of affordable prices, modern infrastructure and quality housing options makes New Belgrade one of the most desirable places to live in the capital.
