We witnessed a great expansion of construction sites and new residential buildings in the last couple of years. This phenomenon is directly related to the fact that more and more people move to Novi Sad to work and study and that they need to buy a place to live. When it comes to buying an apartment in Novi Sad, the most popular choice are small apartments in good, high-quality buildings.
The structure of apartments for sale in Novi Sad
One bedroom apartments up to 40m2 are the most popular option and a universal best buy, but only if they have a good room layout. If the apartment has a good room layout and is located in a good building, buyers will quickly decide to buy it. Potential buyers always look for one separate bedroom and a large living room with a balcony. Balconies must not be covered, and they should have a beautiful view of the city or the backyard.
Quite a lot of people buy apartments while they are still in construction. This allows them to snatch the best price and to have an option to choose floors and orientation. Now, banks also give mortgage loans for apartments in construction, as long as they are 80% completed and as long as the investor has all the necessary documentation.
Two bedroom apartment in Novi Sad as an ideal family home
Two bedroom apartments are popular in all parts of the city, but the most popular locations are those in the city center and near school and kindergartens. Families are looking for apartments up to 60m2 with two bedrooms and a practical room layout. They need to have a modern kitchen, bathrooms and a spacious living room. Buyers look for parking on the premises too, and they are ready to buy it with the apartment. Parking spots and garages are not that cheap, but buyers would rather get one than spend hours looking for a parking place every day.
Studio apartments in Novi Sad
Studio apartments are a perfect investment because renting them always pays off. They are easy maintenance, and renovating them won’t be that expensive. The price per square meter for a studio apartment is still higher than it is for larger apartments, but buying a studio as an investment will undoubtedly pay off. The most popular flats are studio apartments in the city center, studios in new buildings and smaller apartments suitable for short-term rentals.
The price of apartments for sale in Novi Sad
The location will always be the determining factor on the price of the property, but the quality of construction also plays a significant role in deciding on the price. Buyers are paying more attention to the quality of materials, floor tiles, kitchen and bathroom elements, and woodwork. As prices of necessary building materials went up, the cost of the square meter increased. However, that demand for new apartments is still on the rise.
The most expensive apartments are the ones in the center of Novi Sad, where you need up to 2500e for a square meter. Buyers who are willing to splurge on luxury apartments in the city center look only for the best tiles, best woodwork, and best fixtures. They insist on high-quality installations and expensive materials, and they are willing to pay more for them. The average price per square meter for new apartments is 1800e.
Price per square meter in Grbavica is 1300e, 1250e in Nova Detelinara, while Podbara has the most affordable apartments where you need 900e for one square meter. In 2019 banks will continue to offer low-interest rates for housing loans and simpler administrative processes, so buyers will continue to buy apartments via mortgage loans. We have low interest rates and the ever-growing price of apartments happening at the same time, which is a paradox, but the customers would rather pay more for good apartments at the attractive location than make a compromise.
The price of old apartments in Novi Sad
Old apartments still have their value, and if they are well maintained or renovated, they can be as expensive as the new ones. The most popular apartments among the old ones are two-bedroom flats. The price for two-bedroom apartments in old buildings in Novi Sad is about 1200e. The most affordable apartments are located at Stara Detelinara, and you can get them for 700e per square meter, while the Liman is a bit more expensive and it costs about 900e per square meter. The bigger the apartment, the lower the price per square meter, and you can always negotiate the price for those apartments.
If you are buying an old apartment, you should include the renovation cost into your set budget. Depending on the condition of the apartment, you will probably need to change electrical and plumbing installations, to change floor tiles and windows. However, old apartments are still more affordable, and you can find a great deal only if you know where to look. There are a lot of high-quality apartments that need just a little bit of work. The only problem is that you can renovate the hallways and the facade, so your building will still look a bit worn out and old.
How to choose an apartment in Novi Sad?
Your search for the perfect apartment starts online. The City Expert website has interactive maps where you can see the approximate location of all apartments. All you need to do is click on the map and check out the apartment media presentation.
To save your precious time, we designed filters that help you narrow the search. You can choose the structure, surface area, and the price. In the price filter you can go a bit over your budget because you can always try to negotiate the price with the help of our agent. Our agents lead the negotiation process and assist both buyers and property owners, with the goal to successfully seal the deal.
You should pay special attention orientation (south and east are ideal), the quality of construction and the location. As you will probably change your job at some point, you shouldn't care that much if your apartment is close to your work. However, it should be close to parks, schools, and kindergartens.
City Expert offers the complete brokerage service, but unlike all traditional agencies, the bigger part of the process is completed on the website. On the City Expert website, you can search for properties and book viewings. You will be in touch with the online agent via phone and email. All apartments published on our website are double-checked by our legal team, and we can guarantee that all information on our website is accurate.
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