Fabulous real estate prices in Bosnia and Herzegovina

The real estate market in BiH is not "cooling down" yet, apartment prices are 40 percent higher. It's not the time to buy, but it is the time to sell real estate. The prices of apartments do not fall and rise, they have reached a level where the majority of the local population can only dream about buying.

"I have two children, one 23, the other 24, both of them work and are already thinking about buying an apartment, but given that real estate now costs between 4,000 and 6,000 marks, depending on the part of the city, these are fabulous sums," says the citizen. Sarajevo.

In Sarajevo, the demand is much higher than the supply. And the most sought-after apartments are in the following locations: Pofalići, Socijalno, Otoka and Čengić Vila.

"As for the price, it varies from about 3,500 for an original condition that needs to be completely adapted to about 4,500 in an adapted condition / Me for one apartment in our agency for one property, we have about ten buyers, that's what the demand is." says Amel Šabić, Imovina.ba Real Estate Agency Sarajevo

The agency, which is mainly focused on the sale of apartments in the area of ​​Centar Municipality, says that in new buildings the price was about 6 and a half thousand marks per square meter.

"We are now selling Park Residence, where the prices are even 9 thousand per square meter. The old building was somewhere around 4 thousand, but recently the situation on the market has been disturbed. People ask for big figures for old buildings and for unrenovated apartments. The difference between old construction and new construction does not seem to exist, but essentially it exists in quality. It happens that there is a lot of offer on the market, but the offer is not commensurate with the price", explained the real estate agent for Fena.

The price of the apartments depends on the location, whether it is a new building or an old building. When we talk about new construction, the prices of apartments in Banja Luka range from 3,000 Km per square meter to 5,000 Km per square meter in the very center. The price of apartments when it comes to old buildings is slightly lower than 2,400 marks per square meter - up to 4,000 Km.

"Most often, these are young married couples who are solving their life problems, but also people from other cities of the Republic of Srpska who see Banjaluka as the largest city and an institutional student center, so they invest money there and think that it is the best solution for them in the long term, and they see it as a form of investment . There are other people who live and work in the diaspora," says Aleksandar Vuković from the real estate agency Condo Banjaluka.

Demand in Banja Luka is extremely good at the level of the previous year. the most often requested are apartments of smaller square footage, from 40 to 50 or from 50 to 60 square meters - which are mostly taken by young married couples, through loans.

"There are also buyers who pay one part in cash and the other part from a loan. It all depends on who is buying. If they are young married couples, it is usually through a loan, and it is usually a loan from the Investment Development Bank of the Republic of Srpska or loans from commercial banks, while buyers from abroad usually pay in cash," says Aleksandar Vuković from the real estate agency Condo Banjaluka.

The price of an apartment in a new building in Mostar has increased from 2,500 marks per square meter in 2021 and 2022, to four thousand marks this year. The price per square meter in Mostar for an apartment in an old building, which does not require additional investment, is from 2,500 to 2,700 marks. In the next three years, apartment prices will not rise, but prices will not fall either, say insiders, reports N1.

Tržište nekretnine, 31. Oct. 2023.