Discover the impact of Serbia’s first investment credit rating upgrade by S&P on the real estate market. Explore how the new BBB- rating influences various real estate asset classes, financing options, and attracts foreign investment, driving growth in residential, commercial, and industrial properties in Serbia.
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Investor Kabex invest doo has completed the construction of its luxury apartments development "Golden Panorama" in Zlatibor. The development consists of 45 residential units-apartments of different sizes, a wellness and spa centre, storage rooms in the basement and a large parking around the apartment block. All apartments have been sold a long time ago. The owners of the apartments are offered to rent out the apartments to third parties/guests on the rental pool concept. A professional condo manager will carry on the maintenance of the building and apartments.
The developer has started construction of a new apartment building "Golden panorama 2" with 65 residential units between 32-50m2 priced between €2.100-2.200 per square meter, the sale of which is in progress.
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SEECAP director Zoran Mitic has passed the CHIA exam on 21st April 2022. CHIA stands for Certification in Hotel Industry Analytics. This is the only certification for hotel and tourism industry professionals focused on analytics. The CHIA is offered globally through a joint effort between the AHLEI (American Hotel & Lodging Educational Institute) and the world renown Hospitality Industry analytical and benchmarking firm STR.
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South-East Europe as well as Serbia are very rich with mineral waters used for convalescence from various illnesses, for health enhancement and for pleasure and joy. Some of them have been used as spa centres since Roman Times. Serbia alone has over 300 registered spa centres. Wellness is a global tourism phenomenon that grows on average 10% per annum. There is ever increasing awareness that holiday time should be active and fulfilling (full of activities and health benefits) instead of passive lying on the beach, particularly for the middle aged well-funded population with a larger than average disposable income to spend on relaxation and health enhancement.
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Farmland prices are on the up in Serbia and globally. Globally, agricultural land has long received the status of an alternative asset class. According to the Serbian Land Registry reports, (RGA), the price of agricultural land in Serbia is growing at an annual rate of 6-10%. In some parts of the country, the price per hectare has exceeded €30.000. The price of agricultural land will continue to grow in the foreseeable future for reasons you will find out from our analysis of the farmland prices in Serbia and the future price trends of this asset class.
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Despite Covid -19, the real estate market in Serbia in 2020 continued to grow for the fourth consecutive year since 2016. After some confusion and complete denial of the existence of Covid -19 at the end of February 2020, the Serbian Government declared a state of emergency on March 16 2020, which it relaxed at the end of May 2020. During this period, real estate transactions fell to a record low, but recovered rapidly thereafter, especially in the fourth quarter of 2020, when asset transactions reached a historically high level. However, Covid 19 left its mark on the habits and needs of real estate buyers in Serbia, which was reflected in the upward price movements and further market segmentation. We have analysed and illustrated the market trends in numerous tables and comparative data from previous years to understand where the real estate market is moving. We provide a summary analyses and presentation of the relevant data. These data are important for both investors and buyers of residential or users/tenants of commercial real estate. In this report we focus on the real estate market in the Serbian capital city Belgrade since it is in focus of foreign property investors.
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The Serbian RE market is doing very well and it will continue to do so in the foreseeable future. In H1 of 2019 the Serbian real estate market grew by 12,50% in value. There was a significant growth of almost 120% in the value of commercial properties transactions driven primarily by foreign institutional investors.
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