From 600 to several thousand euros: Where in Belgrade is square meter of real estate the cheapest?

Photo: Freepik

In Kaludjerica (Grocka), we found an apartment where the square meter costs 600 euros, although the average is 800-900 euros. On the other hand, in New Belgrade and Vracar, the price is on average 2,500 euros, in some parts three times higher, and the center is also traditionally expensive.

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While prices are rising "unrealistically" the question is what is more important now: location (neighborhood) or type and condition of an apartment?

Here is an example: "I found a beautiful apartment in Kaludjerica, top class, and its 71 square meters cost only 65,000 euros, which is really affordable compared to the prices at the moment and given that Grocka is a city municipality. But I am bothered by the fact that it is in Kaludjerica, which is otherwise considered to be a too remote and untidy settlement," a reader tells us.

She adds that the ad says that the apartment is new, with Spanish ceramics, while the bathroom has a "glass shower screen made of stainless steel, Geberit sanitary ware, an Ariston boiler." This residential unit has parquet, not laminate, air conditioning, quality German carpentry, underfloor heating in the hallway, as is oriented on three sides.

We recently wrote about the main disadvantages of apartments, i.e., what the characteristics of those that are the hardest to sell on the market are (at any given time), and one of the items is one-sided orientation, so everything else is definitely a plus.

That advertisement said it was  an older building (but has been renovated), which is increasingly a benefit in a sea of poor quality new construction, it is not an apartment inside a house, has a terrace, intercom, parking, and is registered. However, the price is 915 euros per square meter. The apartment has a living room with dining area and two bedrooms, and according to many parameters is "ideal."

However, the price is lower precisely because of the location.

Photo: Freepik

They are asking at least 2,500 to 3,000 euros for a property of that "caliber" in Vracar or in New Belgrade. On the other hand, even units on ground floors there sell like hot cakes - which speaks volumes about how important the image of a neighborhood is. Some quality apartments, even if they in immaculate codition, simply often cannot compete with real estate in top locations - even if those units are not in great shape.

There is a completely logical explanation behind this: you can always redecorate and renovate an apartment, except for some significant expansion of the space and the fact that you cannot influence its position regarding what floor it is on; but, you can't change the neighborhood.

Where the infrastructure is not in good condition, or a settlement is too far from the center and other parts of the city, or perhaps is not well supplied/forested - apartments are rated much lower, regardless of how much money is invested in them. Belgrade is expanding day by day, so it is not surprising that we find such price ranges in it.

However, the question remains how long the prices in attractive parts of the city can rise and can buyers keep up?

(Telegraf Biznis)