Opposition activist Đorđe Miketić announced on the X social network that a large number of apartments are being sold in the neighborhood of Belgrade on the Water, which in his opinion means that "the runaway situation has started" and that "the bubble has burst."
Miketić announced that 559 apartments in Belgrade on the water were offered for sale on "Halo Ads", and that there are half as many on other platforms and agencies.
According to his interpretation, up to 50 new ads appear weekly. This allegedly indicates a "race" to bring down prices, which Miketić crowned with the remark at the end of the announcement - "goodbye cockroaches".
What is the state of the real estate market?
Milić Đoković, a consultant at the percentage house New Royal Valuation Balkan, explains to "Vreme" that it is not possible to know exactly the number of properties that are sold in Belgrade on the water, regardless of how many such properties are offered in advertisements.
"It's a large settlement, with maybe 10.000 apartments, so even if 500 apartments are sold, it's nothing spectacular, nothing that anyone would be shocked by," Djokovic says.
He notes with regret that even a dozen agencies can advertise the same apartment in Serbia.
"In Serbia, it is not regulated, as it is in the world, that one apartment is advertised by one intermediary. The data on the websites do not have as much to do with the market as is believed," says Djokovic.
As an example, he cites a popular advertising site, which he claims has 11.500 ads for the sale of apartments, "of which 3.000 are real apartments," while the rest was created by repeating ads.
Photo: Tanjug / Sava RadovanovicThe most expensive apartment in Serbia in 2025 was sold for 1,4 million euros in Belgrade on the water
"When it comes to real estate prices in Belgrade on the water, but also in general, there is unfortunately no fall, and the tendency is that you cannot expect a disturbance in the market, expecting that people will sell real estate for whatever reason. You can only expect an increase in prices. The fall in real estate prices is in the domain of 'what grandma loved, that's what she dreamed of', and everyone likes to get as cheap as possible when buying, and for the price to be as high as possible when selling," Đoković points out.
He points out that the main thing is that Serbia is not a mortgage market, but a real money market.
"We don't belong to the Western model where 90 percent of apartments are mortgaged, so people have to get rid of that. Here, people don't have to sell an apartment if they don't want to, and as long as they don't have to sell something they don't feel is marketable, 'bubbles' can't appear with lots of properties that need to be sold quickly, as they occasionally appear in crowded Zlatibor or in smaller cities. In Belgrade, Novi Sad, Niš, and in big cities, that can't happen. Even theoretically, if 10 percent of the apartments were burdened with mortgages and if their owners were forced to sell the apartments for some reason, that's still only 10 percent of the market. That's a harsh reality," Djokovic concludes.
Data of the Republic Geodetic Institute
According to official data of the Republic Geodetic Institute in 2025, the average price of a sold square meter in Belgrade on the water was around 4.685 euros.
There was a similar trend, with a slightly lower average, in 2024.
According to RGZ reports, Savski venac is by far the most expensive municipality in Serbia, with the average of new construction well above the Belgrade average, which in 2025 was between 2.800-3.000 euros per square meter.
Average prices for a square meter in Belgrade on the water in advertisements are currently between 4.500 and 6.500 euros.
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