Authored by the expert who managed and guided the team behind the Serbia Property Pack
Yes, the analysis of Belgrade's property market is included in our pack
This guide covers everything a foreigner needs to know about renting out residential property in Belgrade in 2026, from legal requirements to realistic income expectations.
We keep this blog post constantly updated so you always have the freshest rental market data for Belgrade.
Everything here is written for non-professionals who want clear, practical answers without the jargon.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Belgrade.
Insights
- Belgrade gross rental yields average around 4.5% to 5.5% in 2026, but neighborhoods like Zvezdara and Vozdovac can push closer to 6% thanks to lower purchase prices relative to rent.
- A typical Belgrade studio rents for around 55,000 RSD (about 470 euros or 510 dollars) per month in January 2026, making it one of the more affordable Southeast European capitals.
- Belgrade short-term rentals average 50% to 60% occupancy with a nightly rate around 60 to 70 dollars, meaning STR can outperform long-term renting only if you hit the top quartile of listings.
- Furnished apartments in Belgrade rent 10% to 20% faster than unfurnished units, especially in expat-popular areas like Vracar and Stari Grad.
- Belgrade landlords pay an effective 15% tax on rental income thanks to a 25% expense deduction before the 20% rate applies, which is relatively favorable for the region.
- Prime Belgrade neighborhoods like Stari Grad and Vracar have vacancy rates of just 3% to 5%, while citywide vacancy sits at 5% to 8% in early 2026.
- Belgrade rents grew only 3% to 6% year-over-year recently, a major slowdown from the double-digit spikes of 2022 and 2023 when Russian migration surged.
- There are over 5,000 active Airbnb listings in Belgrade in 2026, with 87% of guests being international visitors, mostly from neighboring countries and Western Europe.
Can I legally rent out a property in Belgrade as a foreigner right now?
Can a foreigner own-and-rent a residential property in Belgrade in 2026?
As of early 2026, foreigners can legally own residential property in Belgrade and rent it out, provided their home country grants similar rights to Serbian citizens under the principle of reciprocity.
The most common ownership structure for foreigners in Belgrade is direct personal ownership, though some investors use a Serbian-registered company if their country does not have a reciprocity agreement with Serbia.
The main limitation foreigners face is this reciprocity requirement, which means citizens of some countries may need to verify their eligibility before purchasing, though most Western nations and many others already have agreements in place.
If you're not a local, you might want to read our guide to foreign property ownership in Belgrade.
Do I need residency to rent out in Belgrade right now?
No, you do not need to be a Serbian resident to rent out a property in Belgrade, as the country explicitly accommodates non-resident property owners who earn Serbian-source income.
However, you will need a Serbian Tax Identification Number (TIN) to legally collect and report rental income, which you can obtain by submitting Form PR-3 with a notarized passport copy to Serbia's Tax Administration.
A local Serbian bank account is not strictly required by law, but it is strongly advisable because it makes rent collection, utility payments, and tax compliance much smoother in practice.
Managing a Belgrade rental entirely remotely is feasible, though most foreign owners hire a local property manager to handle tenant screening, lease signing, maintenance, and guest registration for short-term rentals.
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What rental strategy makes the most money in Belgrade in 2026?
Is long-term renting more profitable than short-term in Belgrade in 2026?
As of early 2026, long-term renting in Belgrade typically wins on stability and lower hassle, while short-term renting can generate higher gross revenue if you run it professionally in a prime location.
A well-managed long-term rental in Belgrade might generate around 5,500 to 7,500 euros per year for a 1-bedroom, while a well-managed short-term rental in the same unit could reach 8,000 to 13,000 euros annually, but with significantly higher operating costs and effort.
Short-term renting tends to outperform financially in prime central areas like Stari Grad, Dorcol, Vracar, and Belgrade Waterfront, where tourists and business travelers cluster and are willing to pay premium nightly rates.
What's the average gross rental yield in Belgrade in 2026?
As of early 2026, the average gross rental yield for residential properties in Belgrade is approximately 4.5% to 5.5%, which is moderate by European standards but attractive compared to Western capitals.
The realistic range spans from about 3.5% in premium high-price zones like Belgrade Waterfront to around 6% in well-located but less expensive neighborhoods like Zvezdara and Vozdovac.
Studios and smaller 1-bedroom apartments typically achieve the highest gross rental yields in Belgrade because their purchase prices are lower relative to the rent they can command from young professionals and expats.
By the way, we have much more granular data about rental yields in our property pack about Belgrade.
What's the realistic net rental yield after costs in Belgrade in 2026?
As of early 2026, the average net rental yield after all costs for residential properties in Belgrade is approximately 3% to 3.5%, dropping meaningfully from the gross figure once you account for real expenses.
The realistic range most Belgrade landlords actually experience runs from about 2% in premium areas with high purchase prices to around 4% in neighborhoods with strong rent-to-price ratios and lower turnover.
The three main cost categories that reduce gross to net yield specifically in Belgrade are: the 15% effective rental income tax (20% rate minus 25% expense deduction), building communal fees and utilities during vacancy (locally called Infostan), and maintenance reserves for Serbia's older housing stock that often needs more upkeep than newer Western buildings.
You might want to check our latest analysis about gross and net rental yields in Belgrade.
What monthly rent can I get in Belgrade in 2026?
As of early 2026, typical monthly rents in Belgrade are around 55,000 RSD (470 euros or 510 dollars) for a studio, 76,000 RSD (650 euros or 700 dollars) for a 1-bedroom, and 105,000 RSD (900 euros or 970 dollars) for a 2-bedroom apartment.
A decent studio in Belgrade in 2026 rents for approximately 40,000 to 65,000 RSD (340 to 550 euros or 370 to 600 dollars), with the lower end in outer districts and the higher end in central renovated units.
A typical 1-bedroom apartment in Belgrade commands 60,000 to 100,000 RSD (520 to 850 euros or 560 to 920 dollars) per month, depending heavily on neighborhood and building quality.
A 2-bedroom apartment in Belgrade rents for approximately 80,000 to 140,000 RSD (700 to 1,200 euros or 750 to 1,300 dollars) per month, with the higher range in Vracar, Stari Grad, and Belgrade Waterfront.
If you want to know more about this topic, you can read our guide about rents and rental incomes in Belgrade.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Serbia versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
What are the real numbers I should budget for renting out in Belgrade in 2026?
What's the total "all-in" monthly cost to hold a rental in Belgrade in 2026?
As of early 2026, the total all-in monthly cost to hold and maintain a typical rental property in Belgrade is approximately 15,000 to 30,000 RSD (130 to 260 euros or 140 to 280 dollars), excluding any mortgage payments.
The realistic range for most standard Belgrade rental apartments runs from about 14,000 RSD (120 euros) for a self-managed unit with minimal issues to 42,000 RSD (360 euros) for a managed property with higher maintenance needs.
The single largest contributor to monthly holding costs in Belgrade specifically is the building communal fee plus basic utilities (called Infostan), which typically runs 9,000 to 21,000 RSD (80 to 180 euros) per month even when the unit is vacant.
You want to go into more details? Check our list of property taxes and fees you have to pay when buying a property in Belgrade.
What's the typical vacancy rate in Belgrade in 2026?
As of early 2026, the typical vacancy rate for rental properties in Belgrade is approximately 5% to 8% citywide, which translates to roughly 0.5 to 1 month of vacancy per year for a normally priced unit.
A Belgrade landlord should realistically budget for about 3 to 4 weeks of vacancy per year in prime areas like Vracar and Stari Grad, but 5 to 6 weeks in outer districts where tenant demand is softer.
The main factor causing vacancy to vary across Belgrade neighborhoods is proximity to business hubs and transit, with areas like Novi Beograd near office parks filling faster than peripheral residential zones.
Tenant turnover in Belgrade peaks during late summer (August and September) when students and young professionals relocate before the academic and business year begins.
We have a whole part covering the best rental strategies in our pack about buying a property in Belgrade.
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Where do rentals perform best in Belgrade in 2026?
Which neighborhoods have the highest long-term demand in Belgrade in 2026?
As of early 2026, the top three neighborhoods with the highest overall long-term rental demand in Belgrade are Novi Beograd (New Belgrade), Vracar, and Stari Grad including Dorcol.
Families looking for long-term rentals in Belgrade gravitate toward Novi Beograd for its parks and schools, Zemun for its neighborhood feel, and Banovo Brdo in Cukarica for space and livability.
Students seeking long-term rentals in Belgrade cluster in Stari Grad and Dorcol for central transit access, Vracar for walkability, and parts of Palilula near university faculties.
Expats and international professionals prefer Vracar for its cafe culture, Stari Grad and Dorcol for the historic atmosphere, Savski Venac including Belgrade Waterfront for premium furnished stock, and Novi Beograd for modern buildings near corporate offices.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Belgrade.
Which neighborhoods have the best yield in Belgrade in 2026?
As of early 2026, the top three neighborhoods with the best rental yield in Belgrade are Zvezdara, Vozdovac, and parts of Palilula, where purchase prices remain meaningfully lower than prime core areas.
The estimated gross rental yield range for these top-yielding Belgrade neighborhoods is approximately 5% to 6.5%, compared to 3.5% to 4.5% in premium zones like Vracar and Belgrade Waterfront.
The main characteristic that allows these neighborhoods to achieve higher yields is that they still attract reliable tenant demand from commuters and young professionals, but purchase prices have not inflated as much as central trophy locations.
We cover a lot of neighborhoods and provide a lot of updated data in our pack about real estate in Belgrade.
Where do tenants pay the highest rents in Belgrade in 2026?
As of early 2026, the top three neighborhoods where tenants pay the highest rents in Belgrade are Stari Grad (especially Dorcol) at around 82,000 RSD (700 euros or 750 dollars) for a 1-bedroom, Vracar at approximately 76,000 RSD (650 euros or 700 dollars), and Savski Venac including Belgrade Waterfront.
In these premium Belgrade neighborhoods, a standard apartment rents for approximately 80,000 to 140,000 RSD (700 to 1,200 euros or 750 to 1,300 dollars) per month, with luxury units in Belgrade Waterfront reaching even higher.
The main characteristic that makes these neighborhoods command the highest rents is their combination of walkable streets with cafes and restaurants, proximity to embassies and business districts, and newer or recently renovated housing stock.
The typical tenant profile in these highest-rent Belgrade neighborhoods includes senior expats with corporate housing budgets, embassy staff, foreign entrepreneurs, and wealthy local professionals who prioritize lifestyle and convenience over value.
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Serbia. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
What do tenants actually want in Belgrade in 2026?
What features increase rent the most in Belgrade in 2026?
As of early 2026, the top three property features that increase monthly rent the most in Belgrade are a dedicated parking space (especially valuable in dense central areas), modern renovated interiors with updated kitchens and bathrooms, and reliable heating with predictable winter utility costs.
A parking space in dense Belgrade neighborhoods like Vracar or Stari Grad can boost monthly rent by 30 to 50 euros, making it one of the highest-ROI amenities a landlord can offer.
One commonly overrated feature that Belgrade landlords invest in but tenants do not pay much extra for is luxury finishes like marble countertops or designer fixtures, which matter less than basic functionality and location.
One affordable upgrade that provides a strong return on investment for Belgrade landlords is installing high-speed internet infrastructure and creating a proper work-from-home setup with a desk area, which attracts remote workers and expats willing to pay premium rents.
Do furnished rentals rent faster in Belgrade in 2026?
As of early 2026, furnished apartments in Belgrade rent approximately 10% to 20% faster than unfurnished units, with the difference most pronounced in expat-popular neighborhoods like Vracar and Novi Beograd.
Furnished apartments in Belgrade typically command a rent premium of 10% to 15% over unfurnished equivalents, reflecting the willingness of expats, young professionals, and relocating tenants to pay for move-in convenience.
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How regulated is long-term renting in Belgrade right now?
Can I freely set rent prices in Belgrade right now?
Belgrade landlords can freely set initial rent prices in 2026 because Serbia does not have a citywide rent control or rent cap regime for residential properties.
Rent increases during a tenancy are also generally unregulated in Belgrade, meaning landlords can negotiate increases with tenants upon lease renewal, though most follow market rates to avoid turnover.
What's the standard lease length in Belgrade right now?
The standard lease length for residential rentals in Belgrade is 12 months, though landlords and tenants often agree to renewal options or shorter initial terms depending on circumstances.
Belgrade landlords typically require a security deposit of 1 month's rent (approximately 55,000 to 100,000 RSD or 470 to 850 euros or 510 to 920 dollars), with some premium furnished units requesting 2 months.
Security deposits in Belgrade must be returned at the end of the tenancy minus any documented damages or unpaid bills, though specific return timelines depend on the lease agreement rather than strict legal mandates.
We made this infographic to show you how property prices in Serbia compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
How does short-term renting really work in Belgrade in 2026?
Is Airbnb legal in Belgrade right now?
Airbnb-style short-term rentals are legal in Belgrade provided you comply with Serbia's tourism and hospitality regulations, which require registration and guest reporting.
To operate legally, you need to register your accommodation under the tourism framework and use the eTurista system to report guest stays within 24 hours of arrival, rather than obtaining a single "Airbnb license."
Belgrade and Serbia do not currently impose a strict annual night limit or 90-day cap on short-term rentals like some Western European cities, so the main compliance focus is on proper registration and guest reporting.
The most common penalty for operating a non-compliant short-term rental in Belgrade is fines for failing to register guests or not meeting accommodation categorization standards, which authorities have been increasingly enforcing.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Belgrade.
What's the average short-term occupancy in Belgrade in 2026?
As of early 2026, the average annual occupancy rate for short-term rentals in Belgrade is approximately 50% to 60%, with well-located and highly-rated listings achieving even higher.
The realistic occupancy range most Belgrade short-term rentals experience runs from about 35% to 40% for average listings to 65% to 70% for top-performing properties in prime locations.
Peak occupancy months for Belgrade short-term rentals are July and August during summer tourism, plus September and October when business travel and events pick up.
The lowest occupancy months for Belgrade short-term rentals are January and February when tourism drops and cold weather reduces leisure travel, making these months challenging for hosts.
Finally, please note that you can find much more granular data about this topic in our property pack about Belgrade.
What's the average nightly rate in Belgrade in 2026?
As of early 2026, the average nightly rate for short-term rentals in Belgrade is approximately 7,000 RSD (60 to 70 euros or 65 to 75 dollars), varying significantly by location and property quality.
The realistic nightly rate range for most Belgrade short-term rental listings spans from about 5,000 RSD (43 euros or 46 dollars) for basic listings to 10,000 RSD (86 euros or 93 dollars) for well-located premium properties, with top 10% listings exceeding 16,000 RSD (136 dollars).
Peak season nightly rates in Belgrade (July and August) typically run 15% to 25% higher than off-season rates (January and February), representing a difference of roughly 1,000 to 2,000 RSD (9 to 17 euros or 10 to 18 dollars) per night.
Is short-term rental supply saturated in Belgrade in 2026?
As of early 2026, the Belgrade short-term rental market is competitive but not fully saturated, with over 5,000 active Airbnb listings meaning that mediocre properties get punished while quality listings still perform well.
The number of active short-term rental listings in Belgrade has been growing steadily, with the market expanding from around 3,000 listings a few years ago to over 5,100 in late 2025.
The most oversaturated neighborhoods for short-term rentals in Belgrade are Stari Grad and Dorcol, where high listing density means intense competition and pressure on occupancy rates for average properties.
Neighborhoods in Belgrade that still have room for new short-term rental supply include parts of Novi Beograd near business districts and less touristy areas of Vracar where quality listings are underrepresented relative to demand.
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What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Belgrade, we always rely on the strongest methodology we can, and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why It's Authoritative | How We Used It |
|---|---|---|
| Serbia Tax Administration FAQ | Official tax authority with clear guidance on rates and requirements. | We used it to confirm the 20% rental income tax rate and 25% expense deduction. We also referenced it for non-resident TIN documentation requirements. |
| Global Property Guide | Established international housing dataset with transparent methodology. | We used it for gross rental yield benchmarks showing 5.57% for Serbia in Q3 2025. We also referenced their rent tables for Belgrade asking prices. |
| City Expert | Major local real estate portal with on-the-ground Belgrade market data. | We used it for practical rent ranges by apartment type and neighborhood. We also referenced their monthly bills breakdown for holding cost estimates. |
| AirDNA | Industry-standard short-term rental analytics platform used globally. | We used it for Belgrade STR occupancy rates and average daily rate benchmarks. We cross-referenced their listing counts for market saturation analysis. |
| Intermark Relocation | Long-running relocation operator with direct Belgrade market exposure. | We used it for market directionality and tenant leverage commentary. We also referenced their insights on vacancy and negotiation trends. |
| Paragraf (Law on Tourism) | Reputable Serbian legal publisher with Official Gazette references. | We used it to anchor short-term rental legality in the tourism framework. We also referenced the hospitality law for accommodation regulations. |
| eTurista | Official government system for tourism and guest registration. | We used it to confirm the guest registration requirements for STR operators. We referenced it as the practical compliance system hosts interact with. |
| Republic Geodetic Authority (RGZ) | Official Serbian cadastre and property market reporting body. | We used it to ground price trends and transaction data in official statistics. We referenced their quarterly reports for market direction validation. |
| Airbtics | Specialized STR analytics provider with consistent methodology. | We used it for Belgrade Airbnb listing counts and occupancy distribution data. We cross-referenced their revenue estimates with AirDNA figures. |
| Welcome to Serbia (Government Portal) | Official Government of Serbia platform for foreigners. | We used it to validate the official government framing for foreign owners. We also referenced registration requirements for accommodation providers. |
We have made this infographic to give you a quick and clear snapshot of the property market in Serbia. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
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