Real Estate Development in Serbia
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Real Estate in Belgrade
I always look forward to when life surprises me with chance encounters! It’s been a few years since I returned to Serbia from abroad where I finished my studies and gained some professional experience, but I stayed in touch with friends from my university days. One of them is Ivan, a successful businessman who lives and works in Moscow. Ivan recently stopped by Belgrade because he was in transit, so I met up with him for dinner. Ivan hadn’t been to Belgrade in a long time – the last time was 7 years ago when he was a guest at my Slava, and from a student’s perspective, Belgrade seemed like just a great city for entertainment. However, now, after a long distance and his life and business achievements, Ivan quickly evaluated Belgrade as an excellent city for living and potential business development. After some small talk, we started talking about real estate prices and buying opportunities. For example, one square meter in the Old Town, which is equivalent to Manhattan for New York or Tverskaya Street for Moscow, costs 2900 euros this year. I told him that this is only an average and that the price of a square meter in some locations in the center of Belgrade goes over 4000 euros.
|Price of m^2 in euros (2022)
Benefits of investing in real estate
When I explained to him in a little more detail about the prices of certain areas, he became interested in how he could buy an apartment. The biggest advantage for foreigners is that they have the right to property and ownership of an apartment and residential building, just like other citizens of the Republic of Serbia. By purchasing real estate, one obtains resident status and the right to a work permit. I told him that for a businessman like him, it’s best to hire a company that will do everything for him – to search for the type of apartment he wants, to communicate with real estate agents, to take care of compiling and submitting the appropriate documents, to hire designers and architects for eventual apartment renovation, in short, to handle everything in Serbia that a business person living and working in Moscow doesn’t have time for. Ivan was silent for a few seconds, which was a sign that he was seriously considering everything. Businessmen don’t have the luxury of taking a long time to make decisions; speed is crucial in everything. Then he told me that all of this seemed very tempting to him and that he might even consider relocating part of his business.
Source:Turisticka organizacija Srbije
We toasted to that!
I always enjoy it when life surprises me with chance encounters.