The average price of new apartments sold in Bosnia and Herzegovina (BiH) in the fourth quarter of last year was 2.630 BAM per square meter.
Compared to the average price of new apartments sold per square meter in 2022, the average price is higher by 7.6 percent, and compared to the fourth quarter of 2022, it is higher by 8.7 percent, the Agency for Statistics of BiH announced.
The number of new apartments sold in the fourth quarter of last year was 1.579, which is 23.6 percent higher compared to the same quarter of the previous year and 75.1 percent higher compared to the average number of new apartments sold in 2022.
The area of new apartments sold in the fourth quarter of last year, compared to the same quarter of the previous year, increased by 16.5 percent, and compared to the average area of new apartments sold in 2022, it decreased by 64.9 percent.
Real estate prices in Canton Sarajevo (CS) are stagnating and it is expected that such a trend will continue in the coming period. The most expensive locations are Centar, Stari Grad and Novo Sarajevo, and the cheapest are Hrasnica and Hadzici.
Boris Maric from the real estate agency “Prostor” explained that the situation with apartment prices has stagnated in the last few months.
“Trends and the economic situation in the surrounding area will be reflected in our market in the coming period as well. The price sensitivity of the most sought-after apartments is always low. What is highly demanded, and if there is a drop in prices, those locations will feel the drop at the latest. And, what is least in demand will be the first to be influenced if there is a drop in prices,” says Maric.
As he says, he is more inclined to the opinion that in the coming period there will be a slight downward correction rather than an increase in prices.
“The economic environment abroad, on which our economy depends, is going down quite a bit, and it is to be expected that it will affect us as well,” Maric opined.
When it comes to renting real estate, Maric tells us that there has been no recent price turbulence in this segment.
The most sought-after locations are in the area of the municipalities of Novo Sarajevo and Novi Grad.
“When I say Novi Grad, I mean primarily the part that abuts Novo Sarajevo. Novi Grad and Novo Sarajevo, the part next to the tram line, are the most expensive locations in CS,” says Maric.
According to his information, the settlements where apartments are most in demand are Grbavica, Pofalici, Kovacici, Hrasno, Socijalno, Dolac Malta and Otoka.
Tarik Musabegovic from the My Space agency has similar information about the most sought-after locations.
“It’s still Novi Grad and Novo Sarajevo. Those municipalitieshave everything you need for life – parks, parking lots, schools, medical facilities… Grbavica is the most sought-after settlement, and there are also Kovacici, Pofalici, Cengic Vila, Dolac Malta…”, Musabegovic noted.
When it comes to the prices of square meters in those neighborhoods, Musabegovic says that for old buildings it is necessary to set aside a minimum of four thousand BAM, and for new buildings about five thousand, in some parts even more.
The most expensive and cheapest locations
When it comes to the cheapest locations, Maric and Musabegovic agree that these are Hrasnica and Hadzici.
“Vogosca definitely no longer belongs to that category,more than three thousand BAM are needed for a square meter. The demand outside the city is significantly weaker. We expect that Hrasnica will gain importance with the construction of the tram line and there will certainly be an increased demand,” Maricmentioned.
Musabegovic adds that Alipasino Polje and Svrakino Selo are the cheapest city locations, but that you can also find new buildings in Sip for a price between 3,500 and 4,000 BAM. When it comes to Hrasnica and Hadzici, he agrees that these are the cheapest locations and says that the prices of new buildings in those places range between 2,500 and 2,600 BAM. He adds that new construction is somewhat cheaper in Ilidza, where the price is around four thousand BAM.
When it comes to the most expensive locations, Maricand Musabegovic have different information.
Maric says that the municipality of Centar has not been the most expensive for years, but rather Novo Sarajevo and Novi Grad, while Musabegovic claims that Centar is still number 1, and that Stari Grad and Novo Sarajevo are behind it.
“The most expensive municipality is Centar, and there are also Stari Grad and Novo Sarajevo. In Centar, new buildings do not cost less than seven thousand BAM per square meter, and when it comes to old buildings, the price per square meter is between 5 and 6 thousand BAM. Crni Vrh and Odobasina are currently the most expensive locations, the price is around eight thousand BAM per square meter,” told Musabegovic.
On the other hand, Maric emphasized that Centar has not been the most expensive for years and cites some of the reasons.
“Centar has already lost the epithet of the most expensive location in the past few years. Some of the reasons are traffic, parking space, green areas, etc. The traditional center, business and any other, has moved towards Ilidza, mostly around Novo Sarajevo,” Maricconcluded, Klix.ba writes.
E.Dz.
