Business property sales rising by 40%

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Source Glas Srpske, 28. 08. 2010.
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	Tviko Trebinje.
	Agencija Senzor Banja Luka.
	Agencija Marić Nekretnine Modriča.
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	Republika Srpska
	real estate agencies
	commercial property
	Tvik Agency of Trebinje
	Senzor of Banja Luka
	office space
	Maric Nekretnine in Modrica
	condos

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Sales of offices in Republika Srpska (RS) have risen to 40 percent, as prices are slightly lower than last year. Owners of real estate agencies in RS said that people had been more renting than buying commercial property, but this year the situation changed.

Owner of the Tvik Agency of Trebinje - Vaso Milic says that this year the agency has sold about 100 offices, which is 40 percent more than the same period last year.

“Demand for good location has increased. That means more people buying offices in downtown, which cost from seven to ten thousand KM per square meter, "said Milic, adding that location dictates the prices, so that naturally premises at the outskirts are cheaper.

According to him, prices of business premises that are not in the center of Trebinje range from 1500-2000 KM, but still the premises are more leased than bought.

Owner of the real estate agency Senzor of Banja Luka Manuel Popovic, says this year sales of office space are much higher than the last year, and that prices primarily depend on the location, because the business premises downtown are a lot more expensive.

The location dictates the price of office space, so that in downtown of Banja the price of newly constructed buildings, ranges from 3500-8000 KM per SM, while prices on the periphery are a lot lower," said Popovic.

He points out that business space is a lot cheaper to rent:"To rent, the prices range from 20 to 100 KM per SM, and are the same even at better locations, " adding that this year property prices are lower than last year`s.

Owner of the real estate agency Maric Nekretnine in Modrica - Emilija Maric, says this year`s property is cheaper than last year's, with business offices as the highest selling property.

"There is a higher demand for newly built premises and not the older ones, as being mostly bought by people from abroad, "says Maric, adding that prices of those properties range between 1500-2000 KM, while the older construction is a lot cheaper .

Condos

The least expensive condos of Republika Srpska are the ones in Herzegovina part, sold for the price of rougly1200 KM per SM, while Banjaluka is the most expensive with a square meter costing at least 1700 KM, confirmed RS real estate agencies.