Belgrade Residential Figures Q2 2023

The wider economic slowdown which has been present globally has started to take its toll on the Serbian residential market. Namely, after months of an unprecedented growth which was brought about by the imbalance between demand and supply and further supported by relocation of residents from crisis areas, the residential market has started gradually stabilizing.

The residential market has been showing signs of a downturn, which is reflected in a slight drop of the number of construction permits, which amounted to 5% annually in the first half of the year. In spite of a gradual downtrend of the residential market, the pipeline remains active with numerous projects currently under development.