In Bosnia and Herzegovina (BiH), in the first quarter of 2023, more newly built apartments were sold than were built, which confirms that the housing demand is still high.
In the first quarter of this year, 621 apartments were built, which is 41 apartments or 6.2 percent less than in the same period a year earlier, according to data from the BiH Statistics Agency.
At the same time, 695 new apartments were sold, which is 10.8 percent more than in the same quarter of the previous year.
The prices of newly built apartments sold are in a slight decline. The average price in the first quarter was 2,368 BAM per square meter, which is 3.1 percent cheaper than in 2022, but compared to the first quarter of last year, it is 5.3 percent more.
The average price per square meter of a newly built apartment sold in the first quarter is 333 BAM related to the price of construction land, 1,359 BAM the cost of construction and contractor’s profit, and 676 BAM other costs, including VAT.
At the end of the first quarter of 2023, there were 4,749 unfinished apartments, which represents an increase of 2.8% compared to the same period last year.
