The demand for apartments in Belgrade is growing day by day, and currently the most sought-after are newly constructed buildings in favorable locations, which are the first to sell out. Ivica Dončev, director of the real estate agency “Biro Most”, states that the demand is significantly higher than the supply and that newly built buildings in prestigious locations are already sold out at the stage of obtaining a building permit. The increase in demand was influenced by more favorable conditions for obtaining housing loans compared to previous years.
“The fact that banks stopped offering interest on savings a few years ago also affects the decision that it is safest to buy real estate,” explains Dončev.
Belgrade Waterfront is competitive in terms of prices
It is a priority for buyers to choose a micro-location that will provide them with all the conditions for a modern, efficient, and quality lifestyle.
“That’s why residential complexes that offer recreational facilities, a spa program, mandatory building maintenance, and comfortable garage spaces are the most sought after,” Dončev points out and adds that stories about high prices in certain complexes are unfounded, especially when you take into account the additional facilities that the settlement provides.
“More and more families and our people from the diaspora are generally looking for apartments in Belgrade Waterfront, because of all the values and contents that the project offers.” Most apartments in this project do not differ in price from apartments in other complexes in Belgrade. The fact is that prices are similar in other locations, and some even higher, for example in Zvezdara, Vračar, New Belgrade, and Voždovac. “When buyers look at the entire offer of new buildings in Belgrade, they most often decide on apartments in Belgrade Waterfront, because they get much more for similar money,” said Dončev.
Young families choose two-and three-room apartments
When we talk about the type of real estate, two-room and three-room apartments are increasingly in demand and are chosen by young people who are planning a family.
“In earlier years, smaller apartments were most in demand, but now that is changing, i.e. larger apartments with two and three bedrooms are increasingly being sought after due to the appearance of new customer profiles, mostly younger ones who are starting or expanding families.” They mostly buy with loan funds. Credit buyers make up a significant percentage of real estate transactions, but a large number also buy from personal funds,” the broker points out.
Dončev also states that in the last few years, there has been a greater demand for higher and secluded floors with larger terraces, because of the better view and the very atmosphere in the apartment.
Belgrade today also attracts new profiles of buyers, who in projects like Belgrade Waterfront recognized the desired settlement that offers numerous additional facilities and a modern lifestyle in an extremely good location.
“The most sought-after locations are no longer tied to municipalities like before.” Buyers’ wishes relate more to the quality of construction, the level of equipment, and especially to the concept and lifestyle in certain complexes. In the first place is Belgrade Waterfront, followed by new conceptual projects in New Belgrade, Dorćol, and Vračar. The demand for houses in Dedinje and Senjak has increased, but not for apartments in those locations. The demand for real estate in Zvezdara and Zemun has also increased,” said Dončev.
New construction as a safe investment
Taking into account the fact that new construction is incomparably more in demand than old construction, Dončev suggests future buyers focus on new construction and apartments under construction as a safe investment.
“I especially recommend buying an apartment in Belgrade Waterfront, due to the possibility of paying in several installments, where the dynamics of payments follow the dynamics of construction, which is very profitable,” he says.
According to Dončev, prices are not expected to fall anytime soon, particularly when it comes to upcoming construction. In spite of lower interest from buyers, he adds that there may be a short period of stagnation on the market in the future, but sellers will not reduce their property prices.