New Build Homes in Vrnjačka Banja - New Construction Real Estate for Sale
New Construction in Vrnjačka Banja
Vrnjačka Banja is the queen of spa tourism in Serbia and home to seven mineral springs, which were known even to the Romans. In the first six months of 2022, when it comes to spa resorts, Vrnjačka Banja was first on the list in terms of attendance, with a total of 88,913 tourists and 272,514 overnight stays. As the most visited spa in Serbia, it is also very active in the real estate market due to tourist demand and the need for new facilities. It represents an excellent investment opportunity for purchasing an apartment for rent because there is a significant interest throughout the year. Therefore, investing in real estate within this market can bring one of the fastest returns on investment in Serbia.
Sale of new build homes
The construction itself corresponds to the market's needs because the number of traded apartments is increasing yearly. Consequently, demand is still higher than supply, and prices tend to rise. Suppose we compare the costs from 2021 to 2022, the number of traded properties increases. Also, the price per square meter increased by more than 15 percent. Current prices in Vrnjačka Banja start from 1,500 €/m² up to 2,500 €/m². Prices depend on the building's micro-location, construction quality, and attractiveness. It is noticeable that the construction corresponds to the demand and that the average square footage sold is about 40m2, the standard size of an average apartment for rent.