The period behind us caused many market turmoils. The coronavirus pandemic brought risks and uncertainty with it. Those who adapted fast to new ways of doing business were impacted the least. The construction industry showed resilience quickly. In the first few days of the state of emergency, the construction workers already received permits for movement during curfew, and almost all major construction project continued.
Today, over 62,000 construction sites are open in Serbia, which is 16,000 more compared to the same period last year. In the second quarter of 2020, the number of employees increased by 10% compared to the same period in 2019.
Despite the pandemic, 10,846 building permits were issued in the first seven months of 2020, which approximates the same period in 2019 when 11,101 permits were issued. The construction of residential buildings is still predominant. Beside Belgrade and Novi Sad the “construction boom” has spread to other major cities such as Subotica, Kragujevac, Pancevo, Nis, Zrenjanin…. According to the experiences of construction companies and the data of Republic Geodetic Authority the pandemic hasn`t neither impacted sales nor prices which indicates the current construction trend will continue in the future.
The construction industry is paying more attention to end-users as well. They insist on personalized spaces, making smart solutions in housing more and more sophisticated and innovative with each year.
According to experts, the retail sector still has a great potential for growth in Serbia in the upcoming years, especially in small towns. This primarily pertains to retail parks, which allow the retail zones to move from the main streets and pedestrian zones to the park itself. When it comes to the market of shopping centers, Serbia is still behind in the region, and this might change in the upcoming period, considering that several large projects are expected to be completed.
The market of industrial real estate has grown substantially in the past few years, thanks to the opening of several distribution and logistics centers. The construction of new highways and the announcements of the expansion of industrial zones speak in favor of this sector developing at an accelerated pace in the future as well.
In eKapija`s Special Edition Newsletter “Real Estate and Construction – Future Projects for New Business Opportunities”, we will present the latest projects in the sectors of construction and real estate. We will provide answers to the questions of how these sectors handle the pandemic and coronavirus crisis, what the biggest challenges and latest market trends are. We will also try to answer the question of a the perspectives for development in the upcoming period.
We will talk with all the relevant representatives of this field – from state structures, building companies, producers and traders of building materials and machines, to investors and experts for the management and sale of real estate.
The Special Edition Newsletter “Real Estate and Construction – Future Projects for New Business Opportunities” is an ideal place for you to recommend your company, services or products which can contribute to enhancing this field.
We invite you to join us. Write usat firstname.lastname@example.org or email@example.com if you want to becomea part of our Special Edition Newsletter, and make sure to send usyour proposals and suggestions so that we could present this topic aswell as possible.
The previous Special EditionNewsletters can be found HERE