The sector of construction is the main driver of Serbian economic growth, considering that this industry sector marked the highest real gross domestic product growth of 22.9% for the second quarter of 2018. By introducing reforms and electronic construction permits the number of the active construction sites increases every year and the results of the more active construction operations show in the fact that Serbia has jumped from 91th place to 43th on the World Bank's Doing Business Index in the 2015 – 2018 period. In the area of issuing construction permits it had the incredible jump from being ranked 186th to 10th.
A great number of projects contributed to this progress – construction of residental buildings, commercial and residential-business complexes, condominiums and shopping centres which employ many construction companies and contractors. There’s a similar situation in Novi Sad where they even had concrete shortage in certain periods but also in other cities across Serbia who try in every way they can to develop infrastructure and to employ local construction workers.
Real estate agents claim that the market is alive again and that the prices per square meter are on the rise in most cities. They refer to affordable housing loans as a crucial factor for sales rise. The most expensive apartments are the ones in new buildings.
All that space needs to be furnished so there is a lot of work for interior designers and manufactures of furniture and accessories for apartments, stores and shopping centers. IKEA expanding business to Serbia contributed to already strong competition in the field, but it seems that the companies were ready for the market boom and that they will be able to satisfy the ever-growing demand.
We will write about the current projects in the construction sector, the state of business and potential for further development in the new Ekapija Special Edition Newsletter “Real estate and interior design - Market growth brings new business opportunities"
on October 2, 2018.
We will interview all the relevant people – from state structures, building construction companies, companies that deal with building material and equipment productionand furniture and home accessories manufacturers to investors and experts for real estate sales and management. In this way, we will try to show the current state in the field and present new opportunities for future engagements of Serbian companies.
Special Edition Newsletter “Real estate and interior design - Market growth brings new business opportunities"
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The previous Special Edition Newsletters can be found HERE