The region follows world construction trends

Housing prices in the Eurozone could fall chaotically, since apartments are becoming unaffordable to citizens and unattractive to investors due to high interest rates, the European Central Bank warned at the end of May. The latest data from Eurostat show that residential real estate in the Eurozone was 1.7% cheaper in the second quarter than in the previous year.

What`s it like in the region? The report of the Republic Geodetic Institute on the real estate market for the second quarter of 2023 shows that in Serbia there has been a stabilization and calming down of the market after two years of extremely dynamic growth, which followed the outbreak of the coronavirus pandemic. The total amount of money used for the purchase of real estate was EUR 1.7 billion, which is 70% more than in the second quarter of 2019.

When it comes to Montenegro, the average price per square meter of an apartment in a new building in the second quarter was EUR 1,500, according to Monstat preliminary data. That is almost 12% more compared to the first quarter, when a square meter in a new building cost EUR 1,341 on average.

In Bosnia and Herzegovina, prices have stabilized in the past period, i.e. their growth is still present, but not as rapid as it was in 2022. The average price of new apartments sold in Bosnia and Herzegovina in the second quarter was 2,603 KM (about 1,300 EUR) per square meter, the Agency for Statistics of BiH announced.

What do these trends tell us and whether there will be a significant drop in real estate prices, we investigate in the special edition newsletter that is in front of you: "Real estate and construction - From vision to investments". With the help of experts and relevant interlocutors, we learned what to invest in now, how attractive the business premises are and why investors increasingly opt for luxury residential complexes. We discovered which investments are current at the moment and which are planned, and we have also made sure that the region follows the world trends of sustainable construction, energy efficiency, digitalization in construction.