Mortgage market in the Republic of Serbia: present situation and prospects

Abstract

This paper discusses the development of mortgage loans market in the Republic of Serbia through development of the instruments for provision of legal security of investments - both to creditors and to debtors. It explains the process of establishment of Real Estate Cadastre as a prerequisite for registration of real estate mortgages. Creation of the Central Mortgage Register is an additional service that provides transparency of the procedures and mortgage market development. The entire procedure has been illustrated by the statistical data on the increase of the number of registered mortgages, starting from 1998 through the end of 2011. The impact of the global economic crisis on the moderate decrease of the number of new mortgages in the Republic of Serbia is quite evident.