{
  "period": "2026-Q1",
  "geography": "Belgrade",
  "comparability": "Quarter only; compare with Q1 2025, not annual observations",
  "source_file": "additional_sources/docs/M01_Квартални_извештај_I_2026n.pdf",
  "observations": {
    "apartment_market_value_eur_m": 643.1,
    "all_property_contracts_yoy_pct": 9.5,
    "apartment_credit_share_pct": 39.8,
    "city_apartment_price": {"median_eur_m2":3080,"mean_eur_m2":3117,"yoy_pct":13.85,"sample_n":2447,"coverage":"ten cadastral municipalities in narrower urban area"},
    "existing_price": {"median_eur_m2":3061,"mean_eur_m2":3096,"yoy_pct":14.22,"sample_n":1455},
    "new_build_price": {"median_eur_m2":3105,"mean_eur_m2":3147,"yoy_pct":12.96,"sample_n":992},
    "record_apartment_total_eur": 2600000,
    "record_apartment_eur_m2": 12000,
    "record_house_eur": 2100000,
    "record_garage_eur": 77000
  },
  "partially_regulated_primary_market": {
    "contract_share_pct_by_q1": {"2022":74,"2023":80,"2024":70,"2025":56,"2026":37},
    "value_share_pct_by_q1": {"2022":82,"2023":89,"2024":76,"2025":60,"2026":38},
    "value_eur_m_by_q1": {"2022":263.3,"2023":286.6,"2024":209.5,"2025":149.4,"2026":120.8}
  },
  "municipal_prices": [
    {"area":"Stari Grad","total_median":4000,"total_mean":4069,"total_yoy":9.82,"total_n":114,"existing_median":4077,"existing_mean":4130,"existing_yoy":12.87,"existing_n":98,"new_median":3991,"new_mean":3698,"new_yoy":-6.47,"new_n":16},
    {"area":"Savski Venac","total_median":4047,"total_mean":4104,"total_yoy":8.71,"total_n":160,"existing_median":3818,"existing_mean":3757,"existing_yoy":5.70,"existing_n":119,"new_median":5089,"new_mean":5109,"new_yoy":23.56,"new_n":41},
    {"area":"Vracar","total_median":3750,"total_mean":3638,"total_yoy":15.46,"total_n":159,"existing_median":3721,"existing_mean":3661,"existing_yoy":17.27,"existing_n":117,"new_median":3810,"new_mean":3576,"new_yoy":7.53,"new_n":42},
    {"area":"Novi Beograd","total_median":3355,"total_mean":3337,"total_yoy":18.12,"total_n":673,"existing_median":3196,"existing_mean":3191,"existing_yoy":14.93,"existing_n":323,"new_median":3498,"new_mean":3470,"new_yoy":17.73,"new_n":350},
    {"area":"Palilula","total_median":2867,"total_mean":3024,"total_yoy":20.98,"total_n":127,"existing_median":2865,"existing_mean":3011,"existing_yoy":23.97,"existing_n":114,"new_median":2953,"new_mean":3139,"new_yoy":16.35,"new_n":13},
    {"area":"Vozdovac","total_median":2784,"total_mean":2870,"total_yoy":9.82,"total_n":418,"existing_median":2812,"existing_mean":2805,"existing_yoy":11.61,"existing_n":211,"new_median":2750,"new_mean":2937,"new_yoy":9.60,"new_n":207},
    {"area":"Zvezdara","total_median":2890,"total_mean":2832,"total_yoy":5.60,"total_n":263,"existing_median":3000,"existing_mean":2997,"existing_yoy":9.67,"existing_n":142,"new_median":2748,"new_mean":2638,"new_yoy":2.63,"new_n":121},
    {"area":"Cukarica","total_median":2869,"total_mean":2803,"total_yoy":17.21,"total_n":201,"existing_median":2796,"existing_mean":2754,"existing_yoy":23.22,"existing_n":138,"new_median":2923,"new_mean":2909,"new_yoy":6.59,"new_n":63},
    {"area":"Zemun","total_median":2807,"total_mean":2783,"total_yoy":10.57,"total_n":222,"existing_median":2854,"existing_mean":2816,"existing_yoy":12.75,"existing_n":131,"new_median":2750,"new_mean":2735,"new_yoy":7.35,"new_n":91},
    {"area":"Stara Rakovica","total_median":2620,"total_mean":2574,"total_yoy":14.24,"total_n":120,"existing_median":2487,"existing_mean":2422,"existing_yoy":17.31,"existing_n":68,"new_median":2786,"new_mean":2773,"new_yoy":8.86,"new_n":52}
  ]
}