FM Serbia.com

Residential market of Serbia remained dormant in the first half of 2009 in terms of new construction and sales transactions. In order to revive residential construction, the government brought the Low on urban planning and development which will significantly reduce the time needed for obtaining a construction permit.

The Government also initiated plan of incentives for both credit buyers and developers, which is expected to boost residential construction and sale of new apartments
Residential demand decreased due to stricter crediting policy and uncertainty of interest rate levels. In Belgrade, the majority of new projects with project financing decreased their sale prices by 10-15%, whereas apartments in existing buildings recorded a decrease of 5-22% depending on the location and quality.
The highest curreent asking sales prices for new developments are recorded in Stari grad and Dedinje with the levels of EUR 2,200-4,000 per m2, followed by Vracar and New Belgrade.