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Serbia Duplex Apartment Construction Industry Analysis
Serbia has a rapidly growing construction industry, with the demand for duplex buildings and apartments increasing in urban areas. The industry has been experiencing steady growth over the past few years, driven by government investment in infrastructure projects and an increase in private sector construction activity.
According to a report by Statista, the value of construction projects in Serbia has been steadily increasing since 2016, with a significant spike in 2019. This growth is expected to continue, with the construction industry projected to contribute around 10% of Serbia's GDP in the coming years.
In terms of the residential real estate market, the demand for apartments and duplex buildings has been steadily increasing in urban areas such as Belgrade, Novi Sad, and Ni?. The demand is largely driven by a growing population and urbanization, as well as an increase in foreign investment. According to a report by Eurostat, the number of dwellings completed in Serbia increased by 11% in 2020, with the majority of completed dwellings being apartments.
In addition, the Serbian government has implemented several policies aimed at stimulating the construction industry and increasing access to affordable housing. These include the establishment of a state-owned construction company and various tax incentives for construction companies.
However, the construction industry in Serbia also faces several challenges. These include a lack of skilled labor and a reliance on outdated construction methods and equipment. In addition, corruption and bureaucratic hurdles can create barriers to foreign investment in the industry.
Despite these challenges, the outlook for the construction industry in Serbia remains positive, with continued growth expected in the residential real estate market and government investment in infrastructure projects. As Serbia continues to develop and urbanize, the demand for duplex buildings and apartments is likely to continue to increase, creating opportunities for the construction industry to grow and innovate.
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