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
Buying an apartment in Belgrade is one thing, but understanding what rental income you can actually expect is what separates smart investors from those who overpay.
This article breaks down the realistic rental yields, typical rents by apartment size, best neighborhoods for returns, and all the costs that eat into your net income in Belgrade as of early 2026.
We constantly update this blog post to keep the numbers fresh and reliable.
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.
What rental yields can I realistically get from an apartment in Belgrade?
What's the average gross rental yield for apartments in Belgrade as of 2026?
As of early 2026, the average gross rental yield for apartments in Belgrade sits around 5.3% to 5.6%, which is competitive compared to many European capitals.
Most Belgrade apartment investments fall within a realistic gross yield range of 4.0% to 6.8%, depending on where you buy and what you pay per square meter.
The main factor driving yield variation in Belgrade is purchase price compression in prime central areas like Stari Grad and Vračar, where buyers pay a prestige premium that rents simply do not match, while non-core but well-connected neighborhoods like Zvezdara or Voždovac offer better rent-to-price ratios.
Compared to other regional capitals, Belgrade's gross yields are slightly lower than Bucharest or Sofia but noticeably higher than Vienna or Budapest, placing the Serbian capital in a middle ground that balances affordability with decent returns.
What's the average net rental yield for apartments in Belgrade as of 2026?
As of early 2026, the average net rental yield for apartments in Belgrade is around 3.5%, once you account for taxes, building charges, and management.
Most Belgrade apartment investors can realistically expect net yields between 2.6% and 4.8%, with the lower end reflecting premium central properties with higher service charges and the upper end reflecting hands-on landlords in more affordable areas.
The single biggest expense that reduces gross yield to net yield in Belgrade is the combination of rental income tax (effectively around 15% after the standard 25% expense deduction) and the Infostan communal charges that landlords often absorb or factor into pricing, which together can shave 1.5 to 2 percentage points off your gross return.
By the way, you will find much more detailed data in our property pack covering the real estate market in Belgrade.
What's the typical rent-to-price ratio for apartments in Belgrade in 2026?
As of early 2026, the typical rent-to-price ratio for apartments in Belgrade ranges from about 5% to 6% gross per year, meaning it takes roughly 17 to 20 years of rent to pay back the purchase price.
In practice, this ratio spans from around 4% in premium central areas (where you might need 25 years to recoup your investment) to 7% in well-connected outer districts where purchase prices remain more reasonable.
The neighborhoods with the highest rent-to-price ratios in Belgrade tend to be areas like Zvezdara (including Mirijevo), Voždovac, and parts of Palilula, where you can still buy at €1,500 to €2,200 per square meter while achieving rents close to what central areas command.
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How much rent can I charge for an apartment in Belgrade?
What's the typical tenant budget range for apartments in Belgrade right now?
In Belgrade in early 2026, the typical monthly tenant budget ranges from about 350 to 900 EUR (41,000 to 105,000 RSD or $380 to $975 USD), covering most of the local renter market.
For tenants targeting mid-range apartments in Belgrade, the budget typically falls between 550 and 900 EUR (64,000 to 105,000 RSD or $595 to $975 USD), which gets you a solid 1-bed or smaller 2-bed in a decent location with good transport links.
For tenants seeking high-end or luxury apartments in Belgrade, budgets start around 1,200 EUR and can exceed 2,500 EUR (140,000 to 290,000+ RSD or $1,300 to $2,700+ USD), typically targeting Belgrade Waterfront, premium Vračar, or renovated Dorćol properties.
We have a blog article where we update the latest data about rents in Belgrade here.
What's the average monthly rent for a 1-bed apartment in Belgrade as of 2026?
As of early 2026, the average monthly rent for a 1-bed apartment in Belgrade is approximately 650 EUR (76,000 RSD or $705 USD).
At the entry level, a decent 1-bed in Belgrade rents for around 450 to 600 EUR (53,000 to 70,000 RSD or $490 to $650 USD), which typically means an older building in areas like outer Palilula or Čukarica, with functional but basic furnishings and possibly no elevator.
In the mid-range, a typical 1-bed in Belgrade commands 600 to 850 EUR (70,000 to 99,000 RSD or $650 to $920 USD), getting you a well-located apartment in Novi Beograd near business hubs or a renovated unit in accessible parts of Vračar or Zvezdara.
At the high end, a luxury 1-bed in Belgrade runs 850 to 1,200 EUR (99,000 to 140,000 RSD or $920 to $1,300 USD), usually meaning a modern new-build at Belgrade Waterfront, a fully renovated designer apartment in Dorćol, or a premium furnished unit in central Stari Grad.
What's the average monthly rent for a 2-bed apartment in Belgrade as of 2026?
As of early 2026, the average monthly rent for a 2-bed apartment in Belgrade is approximately 900 EUR (105,000 RSD or $975 USD).
At the entry level, a decent 2-bed in Belgrade rents for around 650 to 850 EUR (76,000 to 99,000 RSD or $705 to $920 USD), typically an older building in neighborhoods like Voždovac or outer Zemun, with a smaller "2-bed" layout around 55 to 60 square meters.
In the mid-range, a typical 2-bed in Belgrade commands 850 to 1,150 EUR (99,000 to 134,000 RSD or $920 to $1,245 USD), offering you a modern apartment in Novi Beograd blocks like Blok 21 or 45, or a renovated unit in a good Vračar location with proper heating and parking access.
At the high end, a luxury 2-bed in Belgrade runs 1,150 to 1,800 EUR (134,000 to 210,000 RSD or $1,245 to $1,950 USD), usually meaning a spacious apartment at Belgrade Waterfront with river views, a top-floor renovated unit in Dorćol, or a premium building with concierge services.
What's the average monthly rent for a 3-bed apartment in Belgrade as of 2026?
As of early 2026, the average monthly rent for a 3-bed apartment in Belgrade is approximately 1,250 EUR (146,000 RSD or $1,355 USD).
At the entry level, a decent 3-bed in Belgrade rents for around 900 to 1,150 EUR (105,000 to 134,000 RSD or $975 to $1,245 USD), typically found in non-core areas like Rakovica or outer Zemun, often in older buildings with larger but less refined layouts.
In the mid-range, a typical 3-bed in Belgrade commands 1,150 to 1,700 EUR (134,000 to 199,000 RSD or $1,245 to $1,840 USD), which gets you a family-sized apartment in a good Novi Beograd block, a renovated unit in Banovo Brdo, or a well-located Vračar property with proper storage and building amenities.
At the high end, a luxury 3-bed in Belgrade runs 1,700 to 2,800+ EUR (199,000 to 327,000+ RSD or $1,840 to $3,030+ USD), typically meaning a large apartment at Belgrade Waterfront, a penthouse-style unit in central Stari Grad, or a premium family home in Dedinje.
How fast do well-priced apartments get rented in Belgrade?
In Belgrade in early 2026, a well-priced apartment in a desirable area typically rents within 1 to 3 weeks for 1-beds and small 2-beds, while larger units can take 3 to 6 weeks or longer.
The typical vacancy rate for apartments in Belgrade currently sits around 5% to 8% citywide, with prime areas like Stari Grad, Vračar, and Novi Beograd seeing tighter vacancy of 3% to 5% while outer districts experience 8% to 12%.
The main factors that cause some Belgrade apartments to rent faster than others are proximity to Novi Beograd business hubs (where young professionals cluster), furnishing quality (fully furnished units rent 10% to 20% faster), and heating type (central heating buildings outperform those relying on older systems because tenants factor in monthly Infostan costs).
And if you want to know what should be the right price, check our latest update on how much an apartment should cost 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.
Which apartment type gives the best yield in Belgrade?
Which is better for yield between studios, 1-bed, 2-bed and 3-bed apartments in Belgrade as of 2026?
As of early 2026, studios and 1-bed apartments typically offer the best rental yields in Belgrade, followed by 2-beds, with 3-beds generally producing the lowest yields.
The typical gross yield ranges in Belgrade are approximately 5.5% to 6.8% for studios and 1-beds, 4.8% to 6.0% for 2-beds, and 4.0% to 5.2% for 3-beds, reflecting how tenant demand and purchase price dynamics shift as unit size increases.
The main reason smaller units outperform in Belgrade is that the city's tenant pool is dominated by singles, young couples, and international arrivals who need compact, affordable, well-located housing, while larger family units face a smaller buyer pool and longer vacancy periods that compress returns even when rents look attractive on paper.
Which features are best if you want a good yield for your apartment in Belgrade?
The features that most positively impact rental yield for apartments in Belgrade include good public transport access, efficient heating systems (because tenants factor Infostan bills into their decisions), parking availability in dense areas, and turnkey furnishing that lets tenants move in immediately.
In Belgrade, mid-floor apartments (2nd to 5th floor) in buildings with elevators tend to rent fastest because ground floors raise security concerns while top floors can have heating or roof issues in older stock.
Apartments with balconies or terraces do command a rent premium of roughly 5% to 10% in Belgrade, particularly in areas like Vračar or near the river where outdoor space is scarce and highly valued by both local and expat tenants.
Building features like elevators, parking, and newer construction do justify higher rents in Belgrade, but the rent uplift must be weighed against higher purchase prices, with parking being particularly valuable (adding €30 to €50 monthly) in neighborhoods like central Vračar or Dorćol where street parking is painful.
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Which neighborhoods give the best rental demand for apartments in Belgrade?
Which neighborhoods have the highest rental demand for apartments in Belgrade as of 2026?
As of early 2026, the Belgrade neighborhoods with the highest rental demand are Stari Grad (especially Dorćol), Vračar, Savski Venac (including Belgrade Waterfront), Novi Beograd (particularly blocks like Blok 21, 23, and 45), and Zemun near the quay.
The main demand driver making these neighborhoods attractive is the concentration of jobs, walkable amenities, and "easy living" infrastructure, with Novi Beograd attracting young professionals working in its business parks while Vračar and Stari Grad draw lifestyle renters and expats who want cafes, restaurants, and embassies within walking distance.
In these high-demand Belgrade neighborhoods, vacancy rates typically run 3% to 5% and well-priced apartments rent within 7 to 20 days, compared to citywide averages of 5% to 8% vacancy and 3 to 6 weeks time-to-let.
One emerging neighborhood gaining rental demand momentum in Belgrade is Palilula, particularly sections benefiting from spillover demand from Dorćol and new development, where prices remain 15% to 25% below neighboring municipalities with similar connectivity.
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 highest yields for apartments in Belgrade as of 2026?
As of early 2026, the Belgrade neighborhoods with the highest rental yields are Zvezdara (including Mirijevo), Voždovac, parts of Palilula, Čukarica (especially Banovo Brdo), and non-premium sections of Zemun.
The typical gross yield range in these top-yielding Belgrade neighborhoods is 5.5% to 7%, compared to 4% to 5% in premium central areas like Stari Grad or Belgrade Waterfront.
The main reason these neighborhoods offer higher yields than central Belgrade is that purchase prices per square meter remain 30% to 50% lower while rents stay competitive because tenants prioritize affordability and transport access over prestige, meaning landlords avoid paying the "trophy location" premium that compresses returns in prime zones.
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.
Should I do long-term rental or short-term rental in Belgrade?
Is short-term rental legal for apartments in Belgrade as of 2026?
As of early 2026, short-term rental is legal for apartments in Belgrade, but only if you operate compliantly with registration and tax requirements.
The main legal requirements for operating a short-term rental apartment in Belgrade include registering guests (including foreigners) electronically through the government eTourist system, registering your property with local tourism authorities, meeting minimum safety requirements, and paying applicable taxes including the sojourn tax of around €1.30 per person per night.
For Airbnb-style rentals in Belgrade, hosts must register with the Serbian Tax Administration, display their registration number on listings, and maintain proper guest records, with Serbia's regulatory framework becoming more formalized through recent rulebooks governing non-categorized accommodation facilities.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Belgrade.
What's the gross yield difference short-term vs long-term in Belgrade in 2026?
As of early 2026, short-term rentals in Belgrade can generate gross yields of 6% to 9% compared to around 5.3% for long-term rentals, but the net advantage shrinks significantly once you factor in higher operating costs.
The typical gross yield range is approximately 5% to 5.6% for long-term rentals versus 6% to 9% for well-managed short-term rentals in Belgrade, with the gap driven by higher nightly rates during peak tourism months like July and September.
The main additional costs that reduce the net yield advantage of short-term rentals in Belgrade include cleaning and linen (€15 to €30 per turnover), platform fees (Airbnb takes 3% to 15%), higher wear-and-tear, seasonality gaps, and management fees often running 20% to 35% of revenue compared to 8% to 12% for long-term management.
To outperform a long-term rental in Belgrade, a short-term rental typically needs to maintain an occupancy rate above 55% to 60%, which is achievable (Belgrade averages around 60% occupancy) but requires active management and competitive pricing during low season months like February.
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What costs will eat into my net yield for an apartment in Belgrade?
What are building service charges as a % of rent in Belgrade as of 2026?
As of early 2026, typical building service charges in Belgrade run around 8% to 15% of monthly rent (roughly 50 to 120 EUR or 5,850 to 14,000 RSD or $55 to $130 USD per month for a mid-range apartment).
The realistic range of building service charges in Belgrade spans from about 6% of rent for newer energy-efficient buildings with low communal fees up to 18% or more for older buildings with central heating systems where Infostan charges can spike during winter months.
In Belgrade, the services that typically justify higher-than-average building charges are central heating (which dominates Infostan bills in older buildings), elevator maintenance, building security or concierge services, and shared amenities in newer developments like Belgrade Waterfront, where monthly fees can easily exceed €100.
What annual maintenance budget should I assume for an apartment in Belgrade right now?
A realistic annual maintenance budget for an apartment in Belgrade in early 2026 is around 70,000 to 140,000 RSD (600 to 1,200 EUR or $630 to $1,260 USD), based on the standard 0.5% to 1% of property value rule.
Depending on apartment age and building condition, maintenance costs in Belgrade range from about 58,500 RSD (500 EUR or $525 USD) annually for newer buildings with minimal issues up to 175,000 RSD (1,500 EUR or $1,575 USD) for older properties needing frequent plumbing, heating, or appliance repairs.
The most common maintenance expenses Belgrade apartment owners face annually are boiler or heating system servicing (critical for winter), appliance replacements (water heaters, air conditioning units), minor plumbing repairs, and periodic repainting between tenancies, with short-term rental properties typically requiring 30% to 50% more maintenance budget due to higher turnover.
What property taxes should I expect for an apartment in Belgrade as of 2026?
As of early 2026, annual property taxes for a typical apartment in Belgrade range from about 11,700 to 58,500 RSD (100 to 500 EUR or $105 to $525 USD), depending on the property's assessed value and municipal zone.
The realistic range of property taxes in Belgrade spans from around 5,850 RSD (50 EUR or $55 USD) for small apartments in lower-value outer areas up to 117,000 RSD (1,000 EUR or $1,050 USD) or more for premium central Belgrade properties in Stari Grad or Vračar.
Property taxes in Belgrade are calculated based on the assessed market value of the property, with municipal rates of up to 0.4% applied progressively (higher rates for higher-value properties), and payments due quarterly in February, May, August, and November.
Property owners in Belgrade who reside in their own apartment can claim a 50% tax credit (capped at 20,000 RSD), but this exemption does not apply to investment properties, and there are no special tax breaks for foreign landlords in Serbia.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Belgrade.
How much does landlord insurance cost for an apartment in Belgrade in 2026?
As of early 2026, typical landlord insurance for an apartment in Belgrade costs around 9,400 to 23,400 RSD (80 to 200 EUR or $85 to $215 USD) per year for basic property coverage.
The realistic range of annual landlord insurance costs in Belgrade spans from about 9,400 RSD (80 EUR or $85 USD) for basic fire and structural coverage on a modest apartment up to 46,800 RSD (400 EUR or $420 USD) or more for comprehensive policies that include contents, liability, and rental loss coverage on higher-value properties.
What's the typical property management fee for apartments in Belgrade as of 2026?
As of early 2026, the typical property management fee for long-term rental apartments in Belgrade is around 8% to 12% of monthly rent (roughly 50 to 100 EUR or 5,850 to 11,700 RSD or $55 to $110 USD per month on a €900 apartment).
The realistic range of property management fees in Belgrade spans from about 8% for basic rent collection and maintenance coordination up to 15% for full-service management including tenant finding, while short-term rental management typically runs 20% to 35% of gross revenue.
Standard property management services included in Belgrade fees typically cover rent collection, routine maintenance coordination, tenant communication, and annual inspections, with tenant placement (finding new tenants) often charged separately as a one-time fee equivalent to one month's rent.
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 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 |
|---|---|---|
| Statistical Office of Serbia (RZS) | Serbia's official statistics office providing the cleanest baseline for local incomes. | We used it to anchor what typical household budgets can support in Belgrade. We then translated that into realistic rent affordability bands. |
| Republic Geodetic Authority (RGZ) | The public authority producing Serbia's core real estate transaction reporting. | We used it as "ground truth" for sale price reality based on actual transactions. We then cross-checked portal and consultancy figures against this anchor. |
| National Bank of Serbia (NBS) | The central bank with the most credible macro data affecting housing and rents. | We used it to frame the early 2026 economic backdrop. We then kept yield expectations realistic based on current conditions. |
| Global Property Guide | Long-running international property dataset with transparent methodology. | We used it to standardize gross yield calculations. We then cross-checked outputs with Belgrade-specific rent and price sources. |
| City Expert | Major local real estate platform with practical Belgrade market numbers. | We used it for Belgrade-specific rent ranges and monthly operating costs. We then mapped those costs into net yield calculations. |
| Serbia Tax Administration | The tax authority's own tool for rental income tax mechanics. | We used it to model the tax impact on declared rental income. We then included tax explicitly in our net yield estimates. |
| Welcome to Serbia (Government Portal) | Official government information explaining legal obligations for accommodation. | We used it to confirm short-term rental registration requirements. We then answered legality questions with compliance-first guidance. |
| Belgrade Property Management | Local service provider stating fees in plain numbers. | We used it as a concrete Belgrade example for management fees. We then triangulated with broader fee norms. |
| AirDNA | Widely used short-term rental data provider with standardized metrics. | We used it to anchor occupancy and daily rate reality for Belgrade short-term rentals. We then translated metrics into gross yield comparisons. |
| Colliers Serbia | Major international consultancy with local market expertise. | We used it for market trend context and neighborhood dynamics. We then validated our findings against professional market insights. |
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