Jul 5, 2016

What Kind of Housing Market Does Belgrade Provide You With

The city of Belgrade has come a long way from the earlier years of chaos and political turmoil. It is now an ideal stop for real estate investors who are looking to cash in from a fast growing middle class. The housing market has grown over the years due to a rising population of city dwellers. There are many options for accommodation in Belgrade, all depending on personal preferences and affordability. 
Belgrade bridge, picture taken from www.flickr.com by mcveja
Luxury villas

Like most cosmopolitan areas, Serbia's capital city attracts a lot of affluent people in the society. There are property developers who have decided to focus on this niche market and construct luxury villas. Most of them are for sale because customers in this market segment usually have enough money to buy houses as opposed to leasing. The luxury villas are majorly available in leafy residential districts like Dedinje which are not that far off from the city center and are also close to exclusive international schools. Vintage luxury villas can also be found listed on the market, and the buying price for most of them run into millions of euros. In Serbia, the euro is commonly used in real estate purchases instead of the dinar which is the country's official currency. 
Belgrade apartments in construction, picture take from www.flickr.com by jaime.silva
High-end Apartments

Belgrade's housing market also caters for the upper middle class with penthouse apartments. They are very popular with foreign embassies and international businesses that prefer setting up shop in serene neighborhoods. The penthouses are valued per square meter. Many foreign commercial real estate investment companies have focused on this segment of the housing market since it's lucrative with generous returns. They are available for sale and also as rentals for those who are staying in the country temporarily. Such apartments have also become an alternative and convenient choice of accommodation for tourists who are visiting the Serbian capital for short time frames, say one or two weeks. 
Interesting looking apartment in Belgrade, picture taken from www.flickr.com by jaime.silva

This is where a majority of tenants are found. Most of the working middle class population of Belgrade rent flats because it's the most affordable option for accommodation. Many of these apartment blocks are built in the residential districts and are conveniently close to the city center. It's usually a short commute for people who work in the city center and stay in these flats. Some investors construct them for sale while others offer only rental options which can be for the short or long term. They are also great for travelers who are on a small budget and are looking for cheap
accommodation in Belgrade.

A big percentage of Belgrade's housing market is controlled by local demand, with maybe 15-20% of sales and rentals coming from foreigners. The law allows citizens of foreign countries to own property in Serbia, as long as the same is true in their home countries for Serbian citizens. By 2017, it's expected that restrictions will further have eased for citizens from European Union member states. As the country continues to develop, the housing market also grows at an incredible pace. The capital city of Serbia remains to be a top investment destination for real estate.

No comments:

  © Blogger template 'A Click Apart' by Ourblogtemplates.com 2008

Back to TOP