Language(s): Serbian, Albanian
Total Area: 77,474 km²
GDP (in billion USD): 45
Serbia, officially the Republic of Serbia, is a country located at the crossroads of Central and Southeast Europe, covering the southern part of the Pannonian Plain and the central Balkans.
Serbia's house prices rose 6.4% over the six months to December 2010. The average price of new dwellings stood at RSD144, 294 (USD1, 913) per square meter, up 12% from a year earlier, according to the Statistical Office of the Republic of Serbia.
Belgrade has the country's most expensive housing, at RSD191,650 (USD 2,538) per sq. m. in the first half of 2011, followed by Novi Sad, where the average price of new dwellings is RSD 109,375 (USD 1,449) per sq. m. Cuprija has the cheapest housing, at RSD 59,196 (USD 785) per sq. m.
The Serbian housing market has been flourishing for years, and from 2000 to 2010 house prices soared by 265%. Serbians are now buying larger units. The average area of new dwellings sold in H1 2011 was 58 sq. m., up from 55 sq. m. in the same period in 2010.