The volume of the real estate deals in Serbia decreased by 70 percent compared to the period before the state of emergency introduced due to the coronavirus pandemic. The Republic Geodetic Authority (RGZ) found that 5,343 real estate purchases were made during the first 7 weeks of the lockdown period. The RGZ also pointed out that during this time, there was no reduction in real estate prices, though cash-based purchases were reduced.
During the state of emergency, the number of apartments increased, while deals for agricultural and construction land fell. Until the end of April, the real estate market was declining slightly on a daily basis, but from May, there’s been a slow increase in the number of deal completions.
