During the last 4 years, the real estate market in the Republic of Serbia has shown an evident expansion and a noticeable growth in terms of the number of turnovers and the volume of funds. It was shown that the COVID-19 pandemic did not have a negative impact on the real estate market in terms of demand and the realized volume of real estate sales.

Real estate, as the most conservative type of capital, considered a safe form of investment, in the Republic of Serbia continued the growth trend in terms of turnover and market value. The real estate market in the Republic of Serbia in the first half of 2022 was worth 3.6 billion euros, which represents a record six-month value.

Serbia recorded a record level of foreign direct investments. The value of what foreign companies and individuals have invested has exceeded four billion euros. The main reason for the record level of investments is macroeconomic stability, a favourable business climate and Serbia’s agreements on free trade with other countries.

From 2010 until 2022 retail and office market where the most active but in the last few years residential and industrial market are also booming.

  1. Residential Market

In the last five years, the residential real-estate market has experienced a complete transformation, mostly due to the influence of foreign investors who have introduced new trends on the market through the concept of residential complexes – condominiums, which have significantly changed the perspective of modern housing. Condominiums, as unique and modern housing concept, are characterized by high standard of quality of construction and finishing works, and unique benefits in the form of additional facilities of the complex that offer customers special comfort. Prices in such projects are from 3000 to 4.000 euro per sqm depending of the location. The most expensive real estate, measured by the price per square meter is in Belgrade, “Belgrade Watefront“, where the price od EUR 10,400 /sqm was reached. The highest paid individual apartment with the total area of 383 sqm was 2,469,888 EUR.

  1. Main Investors and Tenants in industrial properties

There are several Serbian developers and investors that built 30.000 to 50.000 sqm but the biggest boom happened with company CTP that developed several industrial parks with more than 255.000 sqm.

Another company that came recently to Serbia is WGP. They acquired 100 ha near Belgrade where they plan to build 500.000 sqm of modern warehouses.

Tenants are logistic companies and factories like Bosch, Schenker, Tehnomania (local retailer of house appliances), Emmezeta (furniture), and many other international companies.

Also, there are local investors like logistic company TRANSFERA that has open its own logistic center investing in 30,000 sqm in 2022. Also, Milsped and Nelt, that are regionally some of the biggest logistic companies present in Europe and North Africa are constantly expanding building or renting new facilities.


Danos – International Property Consultants & Valuers

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