The Serbian Republic Geodetic Authority (RGZ) announced that the pace of real estate transactions in Serbia has recovered, only ten days after cancelling of the state of emergency. It claims that the number of deals being complete has returned to the same levels as they were before the lock down in March. Working over the last weekend, RGZ analysts processed all of the received sales contracts at the end of the state of emergency. The return of deal flow was remarkable.
In the week from May 11 to 17, the number of real estate assets sold more than doubled, compared to the period from May 4 to 10. What has also returned to normal is the dominance of cash purchases. During 2019, up to as much as 70 percent of apartments bought in Serbia were paid for with cash, while the remainder of the buyers used loans. The ratio of cash purchases fell to just 50 percent cash during the state of emergency, but this has since returned to normal.
