Apartment sales fall in Q3, interest in rentals increases

Apartment sales fell in the third quarter while demand for rentals rose, according to a new report from the Real Estate Cadastre. The agency recorded 1,856 apartments sold — 14% fewer than in the previous quarter — and noted that nearly 29,000 apartments remain under construction.

Prices at the top of the market and a shift toward renting

The most expensive resale apartment was sold in Karposh at a price of €3,122 per square meter; for 41 square meters the buyer paid €128,000. The most expensive new apartment sold by a developer was purchased in Centar at €3,160 per square meter — for 63 square meters the buyer paid almost €200,000.

At the same time, the number of rented apartments rose sharply compared with the previous quarter — by 45% in terms of contracts signed. The Cadastre assesses that the market shows different movements in the two segments — reduced activity in sales and moderate growth in rentals by number of contracts, but a decrease in total monthly rent.

Analysts say these trends point to a market that is becoming more bifurcated: high-end sales continue at top prices, while a larger share of households are turning to the rental market amid cooling resale activity.

The Cadastre's figures underline that construction activity remains substantial, with the large pipeline of nearly 29,000 units likely to affect supply dynamics in coming quarters.

Photo: press material from the event