The real estate market in Bosnia and Herzegovina continues its upward trajectory, with apartment prices reaching record levels and experts warning that a price decline is unlikely even during 2026.
According to official statistics, 1,200 newly built apartments were sold across Bosnia and Herzegovina during the first quarter of 2026. Of that number, 957 apartments were sold in Republika Srpska, while 243 were sold in the Federation of Bosnia and Herzegovina. At the same time, apartment prices have climbed to historic highs, with the country’s most expensive properties remaining in Sarajevo.
Sanid Pamuk, owner of a Sarajevo-based real estate agency, says prices across the country have exceeded realistic market expectations.
“Prices are not realistic, not only in Sarajevo Canton but throughout Bosnia and Herzegovina. In Sarajevo’s city center, it is difficult to find an apartment for less than 4,000 BAM per square meter. Demand remains extremely strong. In many cases, most apartments are sold before a building is even halfway completed,” Pamuk explained.
After Sarajevo, some of the highest property prices are recorded in Banja Luka, Tuzla, Bijeljina, Mostar, and Trebinje, where apartments in prime locations can reach up to 5,000 BAM per square meter.
Real estate agents note that apartments ranging between 40 and 50 square meters remain the most sought-after, largely due to their popularity among buyers looking for rental investment opportunities.
Jovana Despotović, owner of a real estate agency in Bijeljina, says prices in her city currently range from 2,600 BAM to 4,200 BAM per square meter.
“There has been no significant increase in prices over the past few months, but demand remains steady. Apartments up to 40 or 50 square meters are the most popular. Buyers continue to favor new developments, especially with discussions about VAT refunds for first-home purchases encouraging interest in apartments under construction,” Despotović said.
Despite official figures showing strong sales activity, many citizens argue that affordable housing is becoming increasingly out of reach. Predictions of a real estate market correction or a bursting housing bubble have circulated for years, yet prices have continued to rise.
Market experts point out that Bosnia and Herzegovina has not experienced a significant decline in residential property prices for more than two decades.
“Prices are not expected to fall anytime soon. Since 2000, we have not seen a decline in real estate prices. The market either stagnates or continues to grow,” Pamuk concluded.
With demand remaining strong, construction activity continuing, and investor interest showing no signs of slowing, analysts believe the country’s housing market will remain resilient throughout 2026, despite concerns over affordability and market sustainability.
