Apartment sales in "Belville" confirmed expectations - over 500 signed contracts and 11,000 requests submitted by interested buyers

In less than three months, company "Blok 67 Associates" has signed over 500 contracts and received about 11,000 requests that concern the sale of apartments in housing project “Belville”, while up to 50 clients visit this complex every day.

- We have processed more clients' requests in such short time than it was processed in Belgrade in 2005 and 2006. We have offered 1,858 apartments, that is, 14 residential and 2 business buildings, to the market and the sales are better than we expected - says Slobodan Mihajlović, the CEO of company "Blok 67 Associates“, in the interview for eKapija. He also reminded that the price of one square meter in this housing project amounts to 1,850 EUR, without VAT.

(Slobodan Mihajlović)

As Mihajlović explains, the biggest demand is for smaller apartments, which is confirmed by the fact that all 0.5, 1 and 1.5-room flats have already been sold or reserved. The people who are interested in these housing units can buy them only if some of the previous clients give up procurement or break the contract.

- There is also high demand for three-room and four-room apartments, which speaks in favor of the thesis that New Belgrade lacks large apartments.

As Mihajlović explains, when the people are buying apartments, they almost always buy themselves the parking place for their automobiles, and they can choose between garage, outdoor or indoor parking space, but they are not obliged to buy any. Let us remind that the price of that space ranges between 500 and 900 EUR per square meter, without VAT (8%).

- In addition to apartments, demand is also high for office space and we have, so far, sold nearly 60% of all office space (about 18,000 square meters). What is especially interesting is the fact that these facilities will be mainly intended for small business. The tenants of the future housing project will have the variety of services at their disposal on the ground floors of 14 residential buildings - from beauty parlors and tailors to Internet cafes and medical offices - Mihajlović explains and adds that the future complex will make it possible for its tenants to satisfy all their needs at one place.

The price of one square meter of office space is 2,350 EUR, without VAT (18%).

- The Administrative building of the complex was finished two months ago and it will soon be handed to the organizers of Universiade, while the whole housing project will be allotted at the beginning of February - says Mihajlović and reminds that "Belville“ will receive about 13,000 sportsmen from 179 countries.

- Except for being the largest building site in the region, the University Village project represents the only real "in vivo" market research in Serbia over the past 10 years. That is confirmed by the number and diversity of facilities, as well as by their quality, because we have all the contents that are in demand on the real estate market: apartments of all sizes and business and parking space - says our collocutor.

(Living room)

- We are making a thorough analysis that will serve as the basis for future projects. In that way, we will have a clear profile of future buyers of apartments in New Belgrade and their needs - says Mihajlović.

According to that analysis, the majority of current buyers, 70% of them, are buying the apartments to live in them and not to sell or rent them. Total of 65% of clients, most of whom are younger than 45, took mortgage loan to pay the apartment.