BUYING A REAL ESTATE ON E-AUCTION AT HALF LOWER PRICES

15. Apr 2022
Photo: mashvisor.com

Along with the growth of real estate prices throughout Serbia, there is also growing interest in a special online system in which apartments, houses, but also cars and other movable and immovable property can be bought from 30% to half cheaper than the market value.

That way, an apartment of 67 m2 in the municipality of Zvezdara in Belgrade was sold for about 3.6 million dinars, or 30,450 euros, which is 455 euros per square meter. By the way, in this Belgrade municipality, according to the data of the Republic Geodetic Authority, the average price of a square meter in an old building is 1,780 EUR, ie a square was sold in the range of 800 to 2,862 euros in the last quarter of 2021, reports ekapija.com.

This is one of the last in a series of properties sold through the e-Auction portal, where both citizens and legal entities can participate as buyers, anonymously!

In the next month, as it was announced on this portal, another 19 apartments were offered for sale.

Among them is a one-bedroom apartment of 43 m2 in Vračar, which starting price is around 7.5 million dinars, or 63,886 euros, which is 1,485 euros per square meter. This price seems more than favorable since it is one of the most desirable locations in Serbia, where the square footage of old buildings costs 2,254 euros on average, and goes up to 3,822 euros.

Also, a duplex of 101 m2 in Rakovica was offered for auction at a starting price of 119,305 euros, or 1,180 euros per square meter. In this Belgrade municipality, by the way, a square costs 1,263 euros on average, and goes up to 1,880 euros.

Electronic public bidding is also scheduled for the sale of a one-and-a-half-room apartment of 53 m2 in Novi Sad, at a starting price of 51,440 euros, which is 970 euros per square meter. According to the RGA, the average price of old buildings in Novi Sad is 1,395 euros per square meter, and goes up to 2,250 euros per square meter.

In Subotica, interested buyers can bid for the purchase of a two-bedroom apartment of 47 square meters, whose starting price is 19,180 euros, or 408 euros per square meter. In this city, the average market price of apartments in old buildings is around 600 euros, and it goes up to 1,100 euros.

Among other things, a 69-square-meter apartment in Vrnjačka Banja was offered for auction. The starting price is 48,676 euros, or 705 euros per square meter.

All the listed properties were put up for auction because their owners could not repay their debts.

According to NALED's analysis, since the electronic public bidding system has become the only way to sell assets in enforcement proceedings, interest in e-Auction is constantly growing - in 2021 alone, almost 14,500 auctions were organized through this platform, which is almost 50% more than 2019.

Slightly more than 13,750 proceedings were completed with the sale, while the rest were suspended.

"Thanks to the electronic procedure, public bidding is no longer limited to a narrow circle of potential buyers, but all interested citizens or legal entities can participate in it. The subject of the sale is known 15 to 30 days in advance, and anyone who wants to bid must post a 15% guarantee on the starting price. Tenders are held in two rounds - in the first the starting price is 70% of the estimated value, while in the second it is 50%. The fact that all bidders are anonymous additionally contributes to the legal security of the participants, so that neither they nor the public executors can know who is hiding behind the identification number. The best evidence of the effectiveness of the new system is the fact that so far no complaints have been filed against the violation of anonymity, pressure on decisions or any other type of abuse, "said Dejan Vuković, vice president of the Association for Property and Investment in NALED.

 

Source: ekapija.com

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