In May of this year, up to 73% more contracts stipulating the sale of building land were concluded than in May of last year and the year before. All types of land are predominantly purchased for cash.
In May, as in April, the significant increase in the number of contracts concluded for the sale of building land in Serbia continues, reports N1.
Data from the State Geodetic Authority show that a total of 2,942 contracts stipulating the sale of building land were concluded in May. In the same month of 2020, there were only 1,671 of these contracts, a figure just below the 1,698 contracts concluded in May 2019.
According to SGA data, in May 2021, 12,648 contracts for the purchase and sale of all types of real estate – houses, apartments, land, garages and annexes – were concluded in the country. Compared to the same month of 2020, this is an increase of 61%.
In May of last year, the number of real estate transactions was lower as the state of emergency was still in effect in Serbia, with movement restrictions in place due to the pandemic. Compared to May 2019, which had been a record month in terms of sales so far, growth of 21.6% was recorded in May 2021.
The amount of money spent in the real estate market in May 2021 was 461.4 million euros. âThe dominant mode of payment for real estate in May 2021 was in cash, that is to say in 86% of transactions carried out. The separate parts of buildings are more often paid for by loans than other types of real estate, which in May represented 31% of the total number of separate parts of buildings sold, âsays SGA. Land, on the other hand, was paid for in cash 99% of the time.
Apartments are more often paid for with bank loans, again according to SGA: âIn Serbia, in May 2021, 35% of apartments were paid for with mortgages. If we look by region, in Vojvodina the percentage is 39%, in Belgrade 37%, in umadija and western Serbia 28%, while mortgages were the least used to buy real estate in the southern and eastern Serbia, 27%.
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