Serbia’s housing market stimulated by better economy, new laws
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Serbia’s house prices rose 5.23% (2.39% inflation-adjusted) over the six months to June 2010. The average price of new dwellings stood at 135,618 RSD (US$1,785) per square metre; down just 1.02% (-4.89% inflation-adjusted) from a year earlier, after astonishing price rises in 2008 to early 2009.
Hit by the global financial crisis, the Serbian economy contracted by 3% in 2009. Serbia stabilized in Q1 2010 and bounced back in Q2 2010. Rises in private sector investment, together with increased exports and consumption, contributed to GDP growth of 1.8% in Q2 2010.
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