A place worth investing in real estate: 18 sq meter apartments go for 30,000 euros

Photo: Municipality of Vrnjacka Banja

The city settlement of Vrnjacka Banja is getting more and more visits each year, which has influenced the growth of new construction, primarily of apartments. Last summer, this spa, the largest in Serbia, had a significant influx of tourists, despite it being a crisis year.

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It's not uncommon for Serbians who work abroad to buy real estate in Vrnjacka Banja rather than in Belgrade or Novi Sad, because its growth potential is increasing. A two-bedroom, 18 square meter apartment is currently listed for sale for 29,000 euros., but as stated - is also ready for rent.

That means that a square meter is priced at around 1,600 euros, and the ad further says that the apartment is registered, that it is not on the top floor, has a French balcony, a parking spot, air conditioning. What is interesting is the price range: a square meter goes from around 1,000 to as high as 2,500 euros. If you invest in real estate in Vrnjacka Banja, the advantage is that this investment can pay off in two ways.

Whether by moving to the town, or renting your apartment to tourists during the season. In fact, it is very debatable when that season it is, because this town in the Raska District is popular throughout the year, just like Zlatibor or Kopaonik mountain resorts.

These days, ahead of Orthodox Easter and May Day holidays, spas are in particular demand, with Vrnjacka Banja and Sokobanja standing out. A closer look at the ads reveals that there are 44 square meter apartments being priced at around 80,000 euros. That is far more than the price per square meter in many Belgrade neighborhoods, where the average is up to 1,500 euros.

What's the secret?

The tourist offer of Vrnjacka Banja, an increasing number of hotels, apartments and spa centers, certainly affect its popularity and reputation, but the key is also in good organization and recognition of potentials. Serbia has other places that could "spring back to life" like this, but they are not getting investments.

"A successful development of a local self-government depends on its natural resources placed in the function of investments, on the work of the people who manage those resources, on geographical position and the openness of that place. Our activities are aimed at creating Vrnjacka Banja as a modern tourist destination which, with its contents and quality of services, is becoming competitive with many well-known European and worldwide tourist centers," Boban Djurovic told us last fall.

(Telegraf Biznis)