It has turned out that the crisis has not affected the real estate market in Serbia. There is more construction activity than a year ago, additional square meters are sought in both the segment of residential real estate and the segment of commercial and industrial real estate. The prices are growing, new projects are being agreed. In the second quarter of 2021, in the real estate market, the transactions amounted to EUR 1.6 billion, which is twice as much compared to the same trimester in 2020 and 1.6 times more than in 2019.
Investors remained busy during the summer as well. In July, 2,278 building permits were issued, which is 13.6% more compared to the same period last year. Of that number, 84% of the permits pertain to buildings.
Apartment building is not the only growing sector. Although a number of companies have decided to keep offering to their employees to work remotely, the development of office space has remained very dynamic in Serbia, and the lease prices are at a record level.
Retail sector still has a great growth potential, especially in small cities, because the period after the lockdown showed that consumers like to buy in real space rather than online.
The industrial real estate market has grown in the past year, and the construction of new highways and the announcements of the expansion of industrial zones speak in favor of the fact that this sector will develop rapidly in the future as well.
Changes have also taken place in the market of construction materials and equipment. Materials are becoming recyclable, natural and energy efficient. Protection from noise, pollution, heat and cold is inevitable in both homes and offices. The manner in which real estate is heated and cooled is upgraded. Technological solutions improve the experience of staying at a place until they eventually make it a smart home or office.
These are the topics that will be discussed in eKapija’s new special edition newsletter “Real Estate and Construction – Demand for Floor Area Drives New Investments”. We will talk to relevant people from this field – from state structures, companies from the field of construction, production and trade of building materials and machines, through investors, to experts for real estate management and sale, all the way to representatives of banks and insurance companies…
The Special Edition Newsletter “Real Estate and Construction – Demand for Floor Area Drives New Investments
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The previous Special Edition Newsletters can be found HERE