What is the fate of apartments built for major sports competitions and how much does a square meter in them cost?
The Olympics, international exhibitions and sports competitions were the reason for the mass construction of apartments all over the world, from Sarajevo, through Tokyo, to Paris, where these days the 33rd Olympic Games are being held. In Belgrade, the demand for real estate has been much higher than the supply in recent years, which is why there are high expectations for the announced construction of the settlement in Surčin, which should provide accommodation for the participants. exhibitions EXPO.
Potential buyers hope that a larger offer could finally lower prices, while real estate agencies expect that the prices of square meters in Surčin will increase further when the complex is completed. Their calculation is not without coverage, because they have experience with settlements like “Belvil”, which is the last one in Serbia that was purpose-built for the Universiade, and in which prices have more than doubled in the last 15 years – whoever bought a square meter for 1,500 can now he sells it for more than 3,000 euros, he is investigating 4 Zida.
Their first tenants are athletes, and after the Olympics it will become someone’s home. It is the same with apartments, which are purpose-built for sports competitions around the world. The first “Olympic village” was created a hundred years ago in Paris, where the Olympic Games are again being held these days. For the first time, the organizers wanted to place all the competitors “under the same roof”. Back then, athletes slept in wooden houses, and today the French are returning to nature. They announced that this will be “the most responsible and sustainable Olympic Games in history.”
Existing buildings were used that were renovated and adapted, and those that had to be built were made of wood and recycled materials. A third of all roofs are covered with solar panels, while the other third have green gardens that should reduce the temperature in the village. When the Olympics are over, 82 buildings in the complex will be converted into apartments for 6,000 people and business space.
Building, housing, tenants (Pixabay)
Novi Sad also has an “Olympic village”
In Serbia, the last complex of such typical buildings with around 1,860 apartments was built in New Belgrade for the Universiade in 2009, when more than 8,500 athletes from 170 countries were accommodated in them. But that is not the only example. It is little known that Novi Sad also has its own “Olympic village” – the “Shonsi” settlement, which was purpose-built for the 29th Chess Olympiad, which was organized in 1990. According to data from the 4zida portal, real estate in this neighborhood is listed well, given that it is an old building, and average price of apartments in Novi Naselje is 2,180 euros, while prices in that area range from 1,845 to 2,517 euros per square meter.
Mirjana Todorović, director of the agency “Europolis Nekretnine” says that the investment in apartments in “Belville” has proven profitable for many buyers, because the prices of apartments have increased significantly since the moment of construction. According to data from the 4zida portal, the currently advertised average price is 3,725 euros.
“When “Belville” was built, the initial price of apartments ranged between 1,500 and 2,000 euros per square meter. “Currently, the prices are between 3,200 and 4,000 euros, depending on the location of the apartment within the complex, number of floors, equipment and view,” says Mirjana Todorović.
She notes that the demand for apartments in “Belvil” is generally high, and that the complex offers a good quality of life, considering the proximity of schools, kindergartens, shops, and other facilities.
“At the moment, there are less than ten advertised apartments in “Belleville”, and there are certainly more buyers. Apartments up to 50 square meters are extremely sought after, both for housing and for investment buyers, and they rarely appear, and they sell very quickly, while large apartments are waiting for the buyer a bit longer – until the advertised price of the apartment matches the market price. “Generally, the apartment market in Belleville is stable and attractive for buyers,” says Mirjana Todorović.
The advantage of these dedicated complexes is precisely that they have everything needed in one place – from the post office, to the polyclinic, sports fields, to restaurants and playgrounds. The project, which was designed for the Tokyo Olympics, called Harumi Flag, after the artificial island on which the village is located, also has an entertainment center with massage chairs, digital darts and video games, and even a harbor for passenger ships.
These “sports villages” are built quickly and on purpose, so buyers are often skeptical when it comes to the quality of construction, but Todorović says that the apartments in “Belville” were built according to the high standards of the time, with the use of quality materials.
Zgrada, stan, cena kvadrata (Unsplash)
“Of course, as in any complex, maintenance problems can arise, but overall, the quality of construction is rated as good. Apartments in this neighborhood are in high demand for rent, both for residential and commercial purposes. Rental prices vary, but are in the range of 15 to 20 euros per square meter per month, depending on the size and equipment of the property. “Demand is constantly high, especially among young professionals and families who want to be close to important amenities and good traffic connections,” says the director of the “Europolis Nekretnine” agency.
How much will a square meter in Surčin cost?
Average price of apartments in old buildings in Surčin advertised on the 4zida portal is 1,790 euros, while in new buildings it is 2,430 euros. The fact that in 2020 a square meter could be bought for 1,300 euros also shows that the very announcement of the construction of the new complex had an effect on prices.
Real estate agents, considering the planned construction of 1,500 apartments for the EXPO, expect the prices of square meters in Surčin to rise significantly.
“Currently, a square meter is between 1,500 and 2,000 euros, and could potentially reach 2,500 euros per square meter or more, depending on the quality of the construction and the infrastructure that will be built.
The construction of the EXPO complex may bring additional changes to the real estate market, including an increase in prices and demand for apartments in the surrounding areas. Also, there may be an improvement of the infrastructure, which can additionally increase the attractiveness and prices of apartments in that part of the city,” explains Mirjana Teodorović from the agency “Europolis Nekretnine”.
Source: BIZLife
Photo: Freepik/Unsplash/Pixabay
Source: bizlife.rs
