Flats in Serbia: the problems of the country’s housing market
According to Kamatica, one in five flats in Serbia is vacant. Despite the large number of empty properties, more and more new buildings are appearing on the market.
The publication’s analysis shows that the number of unoccupied flats has increased by 34.5 thousand in recent years. This figure is 510.3 thousand, or 23% of the total residential properties. At the same time, the statistics do not include abandoned buildings, holiday homes, and commercial premises.
Experts point to some reasons for this situation, including:
1. Many owners of empty properties live abroad and rarely come to the country.
2. The dwellings are investment properties and are not regularly in use as a source of income.
3. The owners are registered at different addresses.
4. The properties can only serve as accommodation during the study period.
5. New buildings have recently started operating and have yet to be in use.
6. Problem properties with unregistered title deeds.
It is worth noting that vacancy problems exist throughout Serbia. However, the number of vacant properties varies from region to region.
Overview of Serbia property trends by region
Vojvodina leads the country in terms of the number of unoccupied dwellings. Vojvodina has the country’s highest concentration of unoccupied homes, 23% of the total, or 118.8 thousand units. In Novi Sad alone, there are 27.6 thousand empty dwellings. Despite the existence of empty flats, the cost of housing in the city continues to rise:
– a square metre of property in the central part costs 3.5 thousand euros;
– in the areas on the outskirts of Novi Sad, properties are 1.4 euros per square metre;
– rents range from 300 to 1000 euros per month.
Experts’ opinions on the impact of the amount of empty housing in the city differ. Some believe that it will lead to lower prices in the long term. Others, however, point to the growing demand for housing in the city centre, which could deter falling values.
Popular locations for property buyers
Novi Sad is one of the most popular cities among investors. The property market in Belgrade, Serbia’s capital, is also experiencing stable demand. Another promising location has also emerged—Surcin. The reason for the interest in this city is the international exhibition EXPO, which will take place in 2027. Preparations for the event are in full swing. The town will host exhibition areas. At the same time, the construction of warehouses, logistics facilities, and hotels is increasing.
In addition to Surcin, experts see good prospects for the property market in Pančevo and Mirijevo. There are plans to build motorways, which will attract investors.