TRNOVO TOPS REAL ESTATE PRICES IN REPUBLIKA SRPSKA, OUTPACING BANJALUKA AND TREBINJE

According to the latest data from the Republic Institute of Statistics, the municipality of Trnovo has surprisingly taken the lead in terms of average prices per square meter for newly built apartments in Republika Srpska.

In the first quarter of this year, the average price per square meter in Trnovo reached 4,259 KM, placing it ahead of Banjaluka at 3,720 KM and Trebinje at 3,646 KM.

These figures highlight the continuous surge in real estate prices, especially in attractive and well-developed regions of Republika Srpska. The average price of newly sold apartments across the entity in the same period stood at 3,078 KM per square meter.

Trnovo’s mayor, Miroslav Bjelica, told Nezavisne novine that high prices are the result of construction expansion on Mount Jahorina.

“Olympic Center Jahorina has developed property on our side, which sparked serious construction activity,” said Bjelica. He noted that construction has slowed somewhat but is still ongoing.

“Current prices are around 2,500 euros per square meter. Thanks to this development, the municipality’s budget has increased four to five times,” Bjelica added.

Dragan Gruban, Executive Director of the real estate agency "Agent Enex" in Prijedor, said such prices are no surprise given Trnovo's position and proximity to Jahorina.

“Jahorina is split between the municipalities of Pale and Trnovo, and the construction of apartment complexes has significantly boosted prices,” Gruban explained.

He emphasized that the rise is not due to higher construction material costs but rather increased demand.

“People simply want to buy real estate in that location,” he said.

Regarding the situation in Prijedor, Gruban mentioned that new investors are arriving every month and that the city is experiencing a building boom.

“A price of 3,000 KM per square meter has become standard for new construction, and I don’t expect any major changes soon,” he said, adding that further increases are more likely.

Gruban also warned that rising fuel prices and transportation costs could push prices even higher.

“Sales are stable for now, but given current trends, I expect gradual price increases,” he concluded.

High prices are also confirmed by Barbara Popović from the Banjaluka-based real estate agency Fakom.

“Prices vary by location – the city center goes over 5,000 KM per square meter, Nova Varoš around 4,600 KM, while neighborhoods like Lazarevo and Ada are around 3,500 KM,” said Popović, emphasizing that price reductions are unlikely.

“As long as there is demand, prices will not drop. Most buyers are married couples solving their housing needs, but a significant number come from abroad or are buying for investment,” she added.

Dragan Milanović, Director of the Remax real estate agency in Banjaluka, previously told Nezavisne novine that demand in Banjaluka remains strong, which continues to drive construction.

“The cheapest square meter currently is 2,800 KM in Šargovac, while in Lazarevo it ranges from 3,000 to 3,500 KM, in Ada from 3,000 to 3,300 KM, and in the city center prices go up to 6,000 KM,” said Milanović.

As the real estate market in Republika Srpska continues to evolve, Trnovo's unexpected rise to the top of the price list illustrates the powerful impact of strategic development and location-driven demand.