According to the real estate register in Banja Luka, only 19 apartments were sold in September, while last year that number was 140 n the same period, and this year's data are the lowest in the last five years, Nezavisne novine daily reported Saturday.

Namely, these data show that sales have dropped significantly compared to last year, but the downward trend is confirmed by the fact that since January, fewer and fewer apartments have been bought.

Thus, 47 apartments were sold in August, while last year that number was 132, and in July last year 113 were sold while this year only 68 were sold.

Dragan Milanović, director of the “Remax” Agency from Banjaluka, confirmed for Nezavisne novine that the sale of apartments is in a significant decline stating several reasons for the decline.

“We have inflation, that is, an increase in the price of everything, and as a result, the creditworthiness of citizens for those buying real estate through credit is much lower,” Milanovic said, adding that citizens do not have the opportunity to take out loans.

“Another reason is that the banks have tightened their criteria and raised interest rates, thus reducing the possibility of credit borrowing,” said Milanovic.

Banja Luka Notary Slada Ivelic told Nezavisne novine that there is also an evident decline in the purchase of apartments.

“Citizens prefer land in the vicinity of the city, whether it is for construction or agriculture. The price outside the city is significantly lower,” said Ivelic.