New price decrease in fall 2012

Over the past two years, flat prices decreased even for 30%, whereas fall could see new square meter price fall, as real estate agencies claim.

The Secretary of Board of the Serbian Chamber of Commerce for construction, Goran Rodic, said further flat prices decrease was expected, especially of spacious flats.

- Small and medium-sized flats have mostly the same prices – Rodic said.

He estimated potential investors might be in situation to decrease prices because they would not be able to service loans and the offer will increase in case banks would be forced to activate mortgages, adding that 934.000 flats were mortgaged.

According to his words, in comparison to previous two years, prices fell up to 30% while in exclusive areas prices decreased drastically but there were not many these kinds of flats, only a couple of hundreds. Recently, the offer of flats built by private investors was on the increase, he said and added that some 1.300 flats were under construction in Belgrade.

- Prices range form 750 to 1.700 euros per square meter while the figures reach some 2.000 euros in more expensive zones – Rodic said and added that prices neared realistic prices but that there was still significant difference between square meter price in Belgrade and in other Serbian towns where square meter ranged form 350 to 500 euros.

As he said, cheaper prices at 800 – 1000 euros per square meter in Belgrade can be found on the city outskirts, for instance, in Krnjaca, where square meter totals 850 euros.