January 22, 2010

Serbian government adopted a Decree on construction of low cost apartments, according to which the price per square meter would be 1,595 EUR in Belgrade second zone. The Minister of Environment and Spatial Planning Oliver Dulic announced the construction of 10,000 low cost apartments in Belgrade, Novi Sad, Niš and Kragujevac should start in few months. He aslo said the state defined highest sales prices. This decree will have positive effects on the construction sector, it will improve the real estate offer and the citizens will have the opportunity to purchase the apartments at very favorable conditions. The price per square meter in Belgrade 3rd zone will be not higher than 1,290 EUR, 945 EUR in 4th zone and 895 EUR in other zones.