Many Russian investors began to buy real estate in Serbia, which significantly provoked a rise in prices. There is a high demand for rental housing, and Russian citizens want to buy a home or other real estate in Serbia. Many people buy housing in this country in order to rent it out in the future. In addition, citizens from Russia are interested in the possibility of obtaining Serbian citizenship through investment in real estate.
A large influx of people from Russia is observed not only in the capital, but also in other cities of Serbia. In most cases, these are people under the age of 45. Among the visitors there are single people as well as families with kids.
Local residents note that a large number of expensive cars with Russian plates have appeared on the streets. All this suggests that Serbia has become very popular among immigrants from Russia.
High demand for rental housing
Demand for renting luxury real estate has grown significantly, and many rent cottages and apartments from the middle price segment, local realtors report. On the eve of 2022, the Serbian Republican Geodetic Directorate published information regarding the situation on the real estate market. Compared to 2020, the number of purchase and sale transactions increased by 47 percent.
Rent of office space
Demand for office space rental has increased in Serbia, as many entrepreneurs from Russia have chosen this particular country for doing business. Many company owners rent large offices in Serbia and place employees there. But it should be noted that at the moment small business owners are renting office space, since large companies do not have the opportunity to transfer their capital in full to another country. Most office space is in demand in Belgrade. High demand is noted only for rent, but Russian entrepreneurs are not in a hurry with the purchase.
The Serbian authorities note that such an influx of Russian businessmen will only benefit the country's economy. Experts believe that as soon as the problem with the withdrawal of funds from Russia abroad is resolved, many Russian IT companies, including large ones, will move their offices to Belgrade or other cities of Serbia.
Where do Russians buy property other than Belgrade?
The Serbian capital is not the only city where wealthy Russians move with their businesses. Real estate in the city of Novi Sad is in high demand. It is this city that is considered to be an IT capital of the country. There are also a large number of cultural and educational institutions. It should be noted that luxury apartments and office space here are several times cheaper than in the capital of Serbia.
The city of Novi Sad has opened up great prospects for investing in real estate. Many IT professionals come here and do not want to be tied down to a place, so they are interested in renting residential real estate, even if it costs a lot of money.
Where is the most expensive and cheapest real estate in Serbia
During the crisis caused by the coronavirus, the Serbian real estate market showed high resilience. Currently, there is a high increase in prices for any type of properties.
According to realtors, the cost of an apartment in an old house at the beginning of 2022 was about 1,100 euros per square meter. Compared to 2021, the price has increased by 10 percent. As for housing in new buildings, one can buy it starting from 1450 euros per square meter.
Previously it was possible to buy an apartment in the Serbian capital for 60,000 euros, but now one can buy little with this much investment. A studio can be purchased in Belgrade starting from 80 thousand euros. Even in non-prestigious areas of the city, the cost per square meter is about 2 thousand euros.
In the resort areas of the country, the cost is lower for housing, but at the same time, the picturesque nature and warm climate will always delight. If we take into account the resort village of Divcibare, a new apartment here can be bought at prices ranging from 517 to 1900 euros per square meter.
Why property prices have risen in Serbia
There are several factors why the cost of housing and office space in Serbia is increasing.