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
Belgrade remains Serbia's most expensive real estate market, with official transaction data showing apartment prices averaging around 2,600 euros per square meter in 2026.
This article covers current housing prices in Belgrade, and we constantly update it as new data becomes available.
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 apartment prices rose 18% year-over-year for existing homes but only 7% for new builds, suggesting resale inventory is becoming scarcer in desirable neighborhoods.
- The Belgrade Waterfront area commands prices up to 9,000 euros per square meter, nearly seven times higher than entry-level areas like Rakovica.
- About 75% of Belgrade property transactions involve apartments, making houses and villas a much smaller and less liquid segment of the market.
- New construction in Belgrade carries only an 8% premium over existing homes, which is relatively modest given the quality gap and modern amenities included.
- Buyers in Belgrade typically negotiate around 5% off listing prices, though prime central units often sell closer to asking price due to strong demand.
- The realistic entry point for Belgrade real estate starts around 50,000 euros for a small studio in outer districts like Rakovica or Borča.
- Serbia's national property price index has increased roughly 136% over the past ten years, with Belgrade generally outperforming the national average.
- Transfer tax in Belgrade is 2.5% of the purchase price for resale properties, while new builds typically include VAT in the developer's asking price.
What is the average housing price in Belgrade in 2026?
The median housing price is more useful than the average because it represents what a typical buyer actually pays, without being pulled up by a few ultra-expensive luxury properties.
We are writing this as of the first half of 2026, using the latest transaction data from Serbia's Republic Geodetic Authority (RGZ) and other authoritative sources that we manually verified.
The median housing price in Belgrade in 2026 is approximately 15.8 million RSD, which converts to around $159,000 or 135,000 euros. The average housing price in Belgrade is higher at about 18.3 million RSD, or roughly $184,000 (156,000 euros), because luxury sales in central areas push this figure up.
About 80% of residential property transactions in Belgrade in 2026 fall within a price range of 8.2 million to 29.3 million RSD, which is roughly $83,000 to $295,000 or 70,000 to 250,000 euros.
A realistic entry-level budget in Belgrade starts at around 5.9 to 10.6 million RSD ($59,000 to $106,000 or 50,000 to 90,000 euros), which can get you an older studio or small one-bedroom apartment in outer areas like Rakovica or Borča.
Luxury properties in Belgrade in 2026 typically range from 58.7 million to 235 million RSD or more ($595,000 to $2.4 million, or 500,000 to 2 million euros), such as a new high-floor apartment at Belgrade Waterfront with premium finishes and river views.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Belgrade.
Are Belgrade property listing prices close to the actual sale price in 2026?
In Belgrade in 2026, the estimated gap between listing prices and final sale prices is around 5%, meaning buyers typically pay about 5% less than the initial asking price.
This happens because many Belgrade sellers price with a negotiation buffer, especially on online portals where counteroffers are expected. The gap narrows significantly for prime central locations with strong demand, while properties with layout issues or paperwork delays see larger discounts.
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What is the price per sq m or per sq ft for properties in Belgrade in 2026?
As of early 2026, the average housing price per square meter in Belgrade is approximately 305,000 RSD, which equals about $3,070 or 2,600 euros per square meter. When converted to square feet, this works out to around 28,300 RSD per square foot, or roughly $284 (241 euros) per square foot.
Compact apartments in premium central locations like Vračar or Belgrade Waterfront have the highest price per square meter in Belgrade, while larger older units in peripheral municipalities like Rakovica or Čukarica have the lowest, mainly due to distance from the center and building age.
The highest prices per square meter in Belgrade in 2026 are found in Belgrade Waterfront and central Vračar, reaching up to 1 million RSD per square meter (around 9,000 euros). The lowest prices are in areas like Rakovica and peripheral Palilula, starting from around 150,000 RSD per square meter (about 1,300 euros).
How have property prices evolved in Belgrade?
Compared to one year ago, existing apartment prices in Belgrade have increased by about 18%, while new-build prices rose by around 7%. This gap suggests that demand for resale apartments in desirable locations is outpacing the supply of new construction projects.
Looking at the ten-year trend, Serbia's national residential property price index has risen by approximately 136% since 2015. Even after adjusting for inflation, real price growth in Belgrade has been substantial, driven by job concentration in the capital and a wave of new development projects.
By the way, we've written a blog article detailing the latest updates on property price variations in Belgrade.
Finally, if you want to know whether now is a good time to buy a property there, you can check our pack covering everything there is to know about the housing market 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.
How do prices vary by housing type in Belgrade in 2026?
In Belgrade in 2026, apartments make up about 75% of the market by transaction volume, houses account for around 20%, and luxury villas represent roughly 5%, reflecting the capital's urban density and preference for apartment living.
A typical apartment of 55 to 65 square meters in Belgrade costs between 15.8 million and 20 million RSD ($159,000 to $201,000 or 135,000 to 170,000 euros). Small family houses in outer areas range from 21 million to 41 million RSD ($212,000 to $412,000 or 180,000 to 350,000 euros), while luxury apartments in prime new builds start at around 70 million RSD ($704,000 or 600,000 euros) and villas can exceed 117 million RSD ($1.18 million or 1 million euros).
If you want to know more, you should read our dedicated analyses:
How do property prices compare between existing and new homes in Belgrade in 2026?
New-build apartments in Belgrade carry an estimated premium of around 8% compared to existing homes of similar size and location.
This premium exists because new construction offers modern amenities like elevators, better insulation, parking, and lower maintenance risk, plus developers tend to build in high-demand areas like Novi Beograd and the waterfront zone.
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How do property prices vary by neighborhood in Belgrade in 2026?
In Vračar, one of Belgrade's most sought-after central neighborhoods, you will find renovated older apartments and boutique new builds popular with professionals and expats. Prices here range from about 12.2 million to 53 million RSD ($123,000 to $534,000 or 104,000 to 452,000 euros) for a typical 60-square-meter apartment, driven by walkability, cafes, and proximity to embassies.
Dorćol in the Stari Grad municipality offers a historic center atmosphere with river access and strong rental demand. Expect to pay between 10.6 million and 43.3 million RSD ($106,000 to $435,000 or 90,000 to 369,000 euros) for a 60-square-meter unit, with prices reflecting the area's character and renovation potential.
Novi Beograd provides modern apartment blocks with larger layouts and better parking options, making it popular with families. Prices for a 60-square-meter apartment range from 12.3 million to 35.6 million RSD ($124,000 to $358,000 or 105,000 to 304,000 euros), offering a balance between accessibility and affordability.
You will find a much more detailed analysis by areas in our property pack about Belgrade. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Neighborhood | Character | Price Range (60 m²) | Price per m² | Price per sq ft |
|---|---|---|---|---|
| Dorćol (Stari Grad) | Popular / Central | 10.6m - 43.3m RSD ($106k - $435k) | 176k - 722k RSD ($1,770 - $7,260) | 16.4k - 67k RSD ($165 - $674) |
| Stari Grad (core) | Historic / Central | 10.6m - 43.3m RSD ($106k - $435k) | 176k - 722k RSD ($1,770 - $7,260) | 16.4k - 67k RSD ($165 - $674) |
| Vračar | Popular / Upscale | 12.2m - 53.1m RSD ($123k - $534k) | 161k - 885k RSD ($1,620 - $8,900) | 15k - 82k RSD ($151 - $826) |
| Belgrade Waterfront | Luxury / New-build | 25.5m - 63.7m RSD ($256k - $640k) | 425k - 1.06m RSD ($4,270 - $10,680) | 39.5k - 99k RSD ($397 - $992) |
| Savski Venac | Family / Central | 12.9m - 63.7m RSD ($130k - $640k) | 215k - 1.06m RSD ($2,160 - $10,680) | 20k - 99k RSD ($201 - $992) |
| Senjak | Family / Premium | 12.9m - 63.7m RSD ($130k - $640k) | 215k - 1.06m RSD ($2,160 - $10,680) | 20k - 99k RSD ($201 - $992) |
| Dedinje | Luxury / Premium | 12.9m - 63.7m RSD ($130k - $640k) | 215k - 1.06m RSD ($2,160 - $10,680) | 20k - 99k RSD ($201 - $992) |
| Novi Beograd | Family / Commute | 12.3m - 35.6m RSD ($124k - $358k) | 204k - 594k RSD ($2,050 - $5,970) | 19k - 55k RSD ($191 - $555) |
| Zvezdara | Family / Value | 10.7m - 35.3m RSD ($108k - $355k) | 177k - 588k RSD ($1,780 - $5,910) | 16.5k - 55k RSD ($165 - $549) |
| Palilula | Value / Mixed | 10.6m - 31.1m RSD ($106k - $313k) | 176k - 519k RSD ($1,770 - $5,220) | 16.3k - 48k RSD ($164 - $485) |
| Zemun | Family / Mixed | 11.5m - 27.8m RSD ($116k - $280k) | 191k - 469k RSD ($1,920 - $4,720) | 17.8k - 44k RSD ($179 - $438) |
| Banovo Brdo (Čukarica) | Family / Value | 9m - 27.9m RSD ($91k - $280k) | 151k - 465k RSD ($1,515 - $4,680) | 14k - 43k RSD ($141 - $435) |
How much more do you pay for properties in Belgrade when you include renovation work, taxes, and fees?
When you factor in taxes, fees, and potential renovation work, expect to pay approximately 8% to 15% more than the purchase price for an existing home in Belgrade, or 4% to 10% more for a new-build apartment.
If you buy a property around $200,000 (about 19.9 million RSD or 170,000 euros) in Belgrade, you should budget for an additional 800,000 to 1.5 million RSD ($8,000 to $15,000) in transfer tax, notary fees, and minor repairs. This brings your total cost to roughly $216,000 to $230,000.
For a property purchased at $500,000 (around 49.7 million RSD or 425,000 euros), additional costs including transfer tax, legal fees, and moderate renovation could add 2 to 4 million RSD ($20,000 to $40,000). Your all-in cost would be approximately $540,000 to $560,000.
At the $1,000,000 level (about 99.5 million RSD or 850,000 euros), expect additional expenses of 3.5 to 8 million RSD ($35,000 to $80,000) covering legal work, notary fees, and furnishing or finishing costs. Total outlay would reach around $1,050,000 to $1,100,000.
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Belgrade
| Expense | Category | Estimated Cost Range |
|---|---|---|
| Property Transfer Tax | Tax | 2.5% of purchase price when VAT does not apply. This is the standard rate for resale properties in Serbia. For a 20 million RSD apartment, this equals 500,000 RSD ($5,000). |
| VAT (new construction) | Tax | Typically 10% for residential apartments, but usually included in the developer's listed price. First transfers from developers fall under the VAT regime rather than transfer tax. Check whether the asking price is VAT-inclusive before budgeting. |
| Notary and Registry Fees | Fees | 30,000 to 120,000 RSD ($300 to $1,200). These cover contract certification, land registry updates, and administrative processing. Costs scale with property value and transaction complexity. |
| Legal Review | Fees | 60,000 to 250,000 RSD ($600 to $2,500). Hiring a lawyer to review contracts and verify ownership is common practice. Higher-value or complex deals require more extensive due diligence. |
| Agency Commission | Fees | Typically a few percent of the purchase price, depending on the agreement. Commission structures vary by agency and negotiation. Some buyers work directly with sellers to avoid this cost. |
| Light Renovation | Renovation | 350,000 to 1,500,000 RSD ($3,500 to $15,000). This covers painting, minor repairs, flooring refresh, or kitchen updates. Most existing apartments need at least some cosmetic work before moving in. |
| Full Renovation | Renovation | 1,500,000 to 6,000,000 RSD ($15,000 to $60,000). A complete renovation includes new plumbing, electrical, bathrooms, and kitchen. Older buildings in central Belgrade often require this level of investment. |
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.
What properties can you buy in Belgrade in 2026 with different budgets?
With $100,000 (about 9.95 million RSD or 85,000 euros) in Belgrade in 2026, you could purchase a 32-square-meter existing studio in Rakovica, a small 40-square-meter one-bedroom in Borča (Palilula), or a 30-square-meter studio in Žarkovo (Čukarica) that needs some updating.
With $200,000 (around 19.9 million RSD or 170,000 euros), you could buy a 55-square-meter one-bedroom existing apartment in Zemun, a renovated 65-square-meter two-bedroom in Zvezdara, or a 50-square-meter one-bedroom in an older Novi Beograd block.
With $300,000 (about 29.8 million RSD or 255,000 euros), your options include a 75-square-meter two-bedroom apartment in Novi Beograd, a renovated 70-square-meter two-bedroom in outer Vračar, or a 90-square-meter three-bedroom family apartment in Banovo Brdo (Čukarica).
With $500,000 (around 49.7 million RSD or 425,000 euros), you could purchase a high-quality renovated 110-square-meter three-bedroom in Vračar, a 95-square-meter new-build apartment in Novi Beograd, or a 100-square-meter two-bedroom in a prime Dorćol location.
With $1,000,000 (about 99.5 million RSD or 850,000 euros), options include a 150-square-meter premium new-build apartment at Belgrade Waterfront, a fully renovated 170-square-meter luxury apartment in Senjak, or a 240-square-meter existing house in Dedinje.
With $2,000,000 (around 199 million RSD or 1.7 million euros), you enter Belgrade's thinner luxury segment where you could find a 350 to 450-square-meter villa in Dedinje, a top-tier 250 to 300-square-meter penthouse at Belgrade Waterfront, or a fully upgraded 400-square-meter compound-style house in Senjak.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Belgrade.
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 |
|---|---|---|
| Republic Geodetic Authority (RGZ) | Serbia's official cadastre and real estate authority that maintains the national transaction price register. | We used RGZ as our core source for transacted apartment prices in Belgrade, including average prices per square meter and price ranges by municipality. We also extracted year-over-year change percentages from their quarterly reports. |
| National Bank of Serbia (NBS) | Serbia's central bank and the official source for dinar exchange rates against major currencies. | We used NBS reference rates to convert all euro-denominated prices into Serbian dinars and US dollars consistently. We applied late-2025 rates to maintain the January 2026 framing. |
| Statistical Office of Republic of Serbia | Serbia's official statistics agency responsible for consumer price indices and inflation data. | We used their inflation data to calculate inflation-adjusted price changes. We referenced their CPI figures to explain the difference between nominal and real price growth. |
| BIS Residential Property Price Index (via FRED) | An internationally curated dataset from the Bank for International Settlements distributed by the Federal Reserve. | We used this series to estimate ten-year residential price growth at the national level. We clearly noted this is a Serbia-wide index rather than Belgrade-specific. |
| KPMG Guide to Taxes on Real Estate in Serbia | A Big-4 professional advisory firm providing formal tax guidance with legal references. | We used this guide to ground our taxes and fees section, particularly the 2.5% transfer tax rule. We treated their framework as a conservative baseline for cost estimates. |
| Multilaw Real Estate Guide Serbia | A structured legal guide from an international law firm network focused on practical property rules. | We used this to cross-check the VAT versus transfer tax treatment for first transfers versus resales. We only extracted the rule structure, not any marketing content. |
| RGZ Q2 2025 Quarterly Report | The most recent official quarterly market report from Serbia's real estate authority. | We extracted current price-per-square-meter averages and ranges for Belgrade apartments from this report. We used the municipality-level tables to build neighborhood price bands. |
| RGZ 2024 Annual Report | The annual consolidation of transaction data using the same official methodology. | We used this report to verify market direction and ensure consistency with quarterly data. We treated it as supporting context for our main Q2 2025 transaction figures. |
| NBS Exchange Rate Portal | The official source for daily reference exchange rates published by Serbia's central bank. | We referenced their EUR/RSD and USD/RSD rates to perform all currency conversions in this article. We used rates from late 2025 to match our January 2026 timeframe. |
| SORS Consumer Price Statistics | Official consumer price data from Serbia's national statistical office. | We referenced their CPI data to explain why nominal price increases feel different from real increases. We used approximate 2025 inflation figures for our adjusted calculations. |
| FRED Economic Data | A major public data platform maintained by the Federal Reserve Bank of St. Louis. | We accessed the BIS Serbia residential property price index through FRED's interface. We calculated the percentage change between Q2 2015 and Q2 2025 index values. |
| RGZ Belgrade Municipality Tables | Official transaction data broken down by Belgrade's municipal districts. | We used these tables to identify which neighborhoods have the highest and lowest price ranges. We calculated typical apartment prices by multiplying square meter rates by standard sizes. |
| RGZ Residential Complexes Data | Official pricing data for major residential development projects in Belgrade. | We extracted Belgrade Waterfront pricing specifically from this dataset. We used it to establish the upper bounds of the Belgrade luxury apartment market. |
| RGZ New vs Existing Stock Analysis | Official comparison of transaction prices between new construction and existing homes. | We used this data to calculate the premium that new builds command over existing apartments. We compared average prices and maximum prices for both categories. |
| NBS Mortgage Lending Data | Central bank data on housing credit and financing conditions in Serbia. | We referenced this data when discussing financing as a driver of price changes. We noted that credit usage for apartment purchases is significant in Belgrade. |
| SORS Inflation Calculator | Official tool for calculating cumulative inflation over specified time periods. | We used estimated cumulative inflation figures to adjust ten-year price growth for inflation. We noted the approximate range of 35% to 50% cumulative inflation since 2015. |
| KPMG Serbia Tax Resources | Professional tax guidance from a globally recognized accounting and advisory firm. | We verified the 2.5% property transfer tax rate applies when VAT is not payable. We used their documentation as a baseline for transaction cost estimates. |
| Multilaw International Legal Network | A network of independent law firms providing jurisdiction-specific legal guides. | We cross-referenced VAT treatment for first property transfers from their Serbia guide. We confirmed the 10% VAT rate commonly referenced for new apartment sales. |
| RGZ Transaction Volume Data | Official data on the number and value of real estate transactions by property type. | We used this data to estimate market composition by property type in Belgrade. We confirmed that apartments dominate both by transaction count and total value. |
| RGZ Price Range Tables | Official tables showing minimum, average, and maximum transaction prices. | We extracted the full price ranges to show market dispersion beyond simple averages. We used minimum and maximum values to define realistic entry and luxury segments. |
| NBS Historical Exchange Rates | Archive of official exchange rates maintained by Serbia's central bank. | We ensured currency conversions remained consistent throughout the article using the same rate basis. We applied rates that reflect the late 2025 to early 2026 period. |
| SORS Annual Reports | Comprehensive statistical publications covering Serbia's economy and demographics. | We referenced broader economic context when explaining price drivers in Belgrade. We noted factors like job concentration and inward migration to the capital. |
| FRED Raw Data Files | Direct access to underlying data series in downloadable format. | We downloaded the raw BIS index values to calculate precise percentage changes over ten years. We compared Q2 2015 (101.5) to Q2 2025 (239.7) to derive the 136% figure. |
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