In Serbia, in March, the sales and purchase of real estate were a third lower compared to the same month last year, as shown by the data of the Republic Geodetic Authority (RGA), and the drop in sales has not been caused by market factors, but by the state of emergency, as pointed out by the president of the Group of Real Estate Trade Mediators at the Chamber of Commerce of Serbia (CCIS), Nenad Djordjevic.
– There are no market reasons for the demand to drop, and so far there have been no real reasons indicating that a drop in sales and prices might be expected after the state of emergency – Djordjevic says, as announced on the CCIS website.
According to him, banks will probably issue more housing loans, the interest rates on housing loans will drop in order to increase the economic activities in Serbia. The real estate market in Serbia is predominantly an investment market and around 30% of the purchase of real estate is financed through loans. There are no indicators that people who have bought real estate with their own funds will be left without the money they would invest in real estate.
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