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The Government of the Republic of Serbia

In the service of citizens

Construction of 10,000 low-cost flats to start soon

Belgrade, 21 January 2010

Minister of Environmental Protection and Spatial Planning Oliver Dulic said that the Serbian government adopted today the decrees on financing the construction of low-cost flats in Serbia and the regulation of transfer of land usage right into property right.

Oliver Dulic at today's press conference

Dulic told a press conference held after the government session that construction of 10,000 low-cost flats in Belgrade, Novi Sad, Nis and Kragujevac should start soon, while construction in other towns of Serbia will depend on the level of interest of citizens. The maximum prices of flats per zones have been established by the Decree on support measures to construction industry through the subsidising of interest on loans for financing housing construction in 2010.

The Minister specified that the price of square metre in Belgrade in the second zone will be €1,595, in the third zone €1,290, and in the fourth € 945. In other zones, the price per square metre will be €895, while low-cost flats will not be built in the first and extra zone. He said that in Novi Sad the price per square meter in the first zone will be €1,100 and €895 in the second zone, while in Nis and Kragujevac, in the first zone the price per square metre will be €900 and in the second zone €695.

Dulic said that the price of flats in buildings in other cities and municipalities in Serbia will be €695 per square metre, adding that he hopes that that the first of those who purchase these flats will be able to move in next year.

He stated that funds of RSD 2 billion have been secured for the construction of flats for social housing, explaining that the state will provide subsidies for the part of the interest which will be calculated according to the 7% annual rate for the approved loan, while the average interest rate will be from 9% to 10%.