Unlike previous generations who based their financial security on the savings, the past few years have brought a new system of value by which people invest their money in real estate and thus invest in a more peaceful future. Although, people who are not from valuation branch know very little about it, there are just a few of those who are not informed that the most rational decision is to invest in newly constructed buildings which hold high prices and always represent a wise investment.
– The trust in the financial system is lost and people are very vigilant regarding big savings. The money has never been cheaper in our country, and there has been a sharp increase in the price of the apartments. The state is actively participating in the real estate market and the best example is that the first-time-buyer of the apartment is entitled of VAT refoundation in amount of 10%. This is why there is a growing price gap between the newly constructed buildings and secondary market- says Nenad Suzic, Regional Head of Valuation and Development Advisory of the leading real estate consultancy CBS International, part of Cushman & Wakefield Group.
However, the unexpected fact is that it is more profitable to invest in a real estate in Serbia than in more developed countries in our neighborhood.
The ratio of yield and risk on Serbian market is the best comparing to the region, and therefore more money can be earned by investing in real estate, which is not the case in Romania, Hungary or any other country in the region.
Our market is specific because Serbian citizens understand real estate asset in the way of preserving the value of their property.
In the long run, Belgrade has overtaken Zagreb in terms of built square meters, and will soon pass Sofia, and so will take the place it deserves – the center of this region. Investors recognize this to a great extent, the country has opened to the world, it has integrated into all financial and economic flows, so Belgrade and Novi Sad are enormously interesting as a new investment destination.
With many foreign investors in our country, such as the Israelis, the Germans, the Greeks, and from recently the Chinese and the Turks, more and more money is circulating and has an effect on the market activity – emphasizes Suzić and underlines that the value assessment of the real estate depends on the location, the exterior and clear legal status of a real estate asset.
That is why the valuer puts himself in the perspective of a potential buyer or investor who will buy the property.
– Recently, the valuation process of real estate properties is becoming easier. The development of the market and activity itself provide a large number of available data, and clients are well-informed about trustworthy companies in this segment, where the margin of error is high.
As a result of all this, the predominance has companies that have been on the real estate market for more than ten years, because they are looking for competent and professional approach for their investments, Suzić concludes.