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's property market in early 2026 continues to grow steadily, with prices rising at a more sustainable pace than the explosive gains seen in previous years.
Whether you want high rental yields in Novi Beograd, short-term rental income in Dorćol, or long-term appreciation near future metro stations, this guide covers every neighborhood with real numbers.
We constantly update this blog post to reflect the latest available data and market trends.
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's the Current Real Estate Market Situation by Area in Belgrade?
Which areas in Belgrade have the highest property prices per square meter in 2026?
As of early 2026, the three most expensive residential areas in Belgrade are Savski venac (especially Belgrade Waterfront and Senjak), Stari grad (particularly Dorćol and Kosančićev venac), and Vračar (around Crveni krst and the Temple of Saint Sava).
In these premium Belgrade neighborhoods, buyers typically pay between 400,000 and 750,000 RSD per square meter (roughly 3,400 to 6,400 euros), with exceptional waterfront or heritage units occasionally exceeding 1 million RSD per square meter.
Each of these high-priced areas in Belgrade commands a premium for specific reasons:
- Belgrade Waterfront (Savski venac): brand-new luxury buildings with river views and international marketing appeal
- Dorćol and Kosančićev venac (Stari grad): very limited historic stock near Kalemegdan Fortress with strong short-term rental demand
- Crveni krst and Temple area (Vračar): walkable urban lifestyle with excellent schools and stable local buyer interest
Which areas in Belgrade have the most affordable property prices in 2026?
As of early 2026, the most affordable areas to buy property in Belgrade are Rakovica (especially Miljakovac and Kanarevo brdo), outer Čukarica (Železnik and parts of Žarkovo), peripheral Palilula (Borča, Krnjača, and Ovča), and parts of Surčin like Ledine.
In these budget-friendly Belgrade zones, prices typically range from 150,000 to 280,000 RSD per square meter (approximately 1,300 to 2,400 euros), making them accessible for investors with smaller budgets.
The main trade-off in these lower-priced Belgrade areas is longer commute times (often 45+ minutes by public transport), older building stock without modern amenities like elevators or parking, and in some cases (especially Borča and Krnjača) flood risk that requires careful street-by-street research.
You can also read our latest analysis regarding housing prices in Belgrade.
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.
Which Areas in Belgrade Offer the Best Rental Yields?
Which neighborhoods in Belgrade have the highest gross rental yields in 2026?
As of early 2026, the Belgrade neighborhoods with the strongest gross rental yields are Novi Beograd's business corridor (Blok 21 through 29) at roughly 5.5% to 7.5%, Voždovac around Autokomanda at 5% to 7%, Zvezdara near Vukov spomenik at 5% to 7%, and select parts of Palilula near Tašmajdan at 5% to 6.5%.
Across Belgrade as a whole, typical gross rental yields range from about 4% in premium trophy locations to 7% in well-positioned but less expensive neighborhoods, with the city average sitting around 5.5%.
Here is why these Belgrade neighborhoods deliver higher returns than other areas:
- Novi Beograd (Blok 21-29): strong corporate tenant demand from nearby business parks and steady expat relocations
- Voždovac (Autokomanda, Dušanovac): large pool of young professional tenants with good tram connections at prices below Vračar
- Zvezdara (Vukov spomenik, Lion): student and young worker demand near universities with buy-in costs 20% to 40% below Stari grad
- Palilula (Tašmajdan edge): spillover demand from the center at softer prices, especially for furnished one-bedrooms
Finally, please note that we cover the rental yields in Belgrade here.
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Which Areas in Belgrade Are Best for Short-Term Vacation Rentals?
Which neighborhoods in Belgrade perform best on Airbnb in 2026?
As of early 2026, the best-performing Belgrade neighborhoods for Airbnb are Stari grad (especially Dorćol, Skadarlija, and the Knez Mihailova area), Savski venac (Savamala nightlife district and Belgrade Waterfront), central Vračar near the Temple of Saint Sava, and Zemun's Gardoš quarter along the riverfront.
In these prime short-term rental zones of Belgrade, well-managed properties typically generate between 90,000 and 175,000 RSD per month (roughly 770 to 1,500 euros) during peak season, though annual averages are closer to 80,000 to 130,000 RSD given the city's moderate seasonality.
Each of these Belgrade areas attracts Airbnb guests for specific reasons:
- Dorćol and Skadarlija (Stari grad): walking distance to Kalemegdan Fortress, the bohemian quarter, and Republic Square
- Savamala and Belgrade Waterfront (Savski venac): nightlife concentration and modern riverfront dining with Instagram appeal
- Temple area (Vračar): "live like a local" appeal with cafés, markets, and the iconic Saint Sava cathedral
- Gardoš (Zemun): charming riverside niche with lower competition and strong weekend demand
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Belgrade.
Which tourist areas in Belgrade are becoming oversaturated with short-term rentals?
The three Belgrade tourist areas showing signs of short-term rental oversaturation are the Stari grad core (the Knez Mihailova to Republic Square to Skadarlija triangle), Savamala's nightlife strip, and the densest parts of Dorćol closest to the pedestrian center.
In these oversaturated Belgrade zones, AirDNA data shows over 7,800 active short-term rental listings citywide, with the highest concentration in these central tourist pockets where listing density is several times higher than outer areas.
The main sign of oversaturation in these Belgrade areas is that occupancy rates have settled around 47% on average (below the 60% threshold that typically signals healthy demand), meaning supply has outpaced visitor growth and hosts must compete harder on price.
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.
Which Areas in Belgrade Are Best for Long-Term Rentals?
Which neighborhoods in Belgrade have the strongest demand for long-term tenants?
The Belgrade neighborhoods with the strongest long-term rental demand in 2026 are Novi Beograd (Blok 21 through 29 and the Jurija Gagarina corridor), Vračar (Crveni krst and Kalenić market area), Zvezdara (Vukov spomenik and Đeram edge), and Zemun's Gornji grad quarter.
In these high-demand Belgrade neighborhoods, well-priced apartments typically rent within 15 to 25 days, with vacancy rates ranging from 3% to 5% in prime blocks and 5% to 8% in slightly less central locations.
Here is the tenant profile driving demand in each of these Belgrade neighborhoods:
- Novi Beograd (Blok 21-29): corporate employees, IT professionals, and expat families seeking modern buildings near business parks
- Vračar (Crveni krst, Kalenić): young professionals and couples who want walkability, cafés, and cultural amenities
- Zvezdara (Vukov spomenik): university students and early-career workers looking for affordable options near the center
- Zemun (Gornji grad): families seeking a quieter lifestyle with riverside charm and good schools
What makes these neighborhoods especially attractive to long-term tenants in Belgrade is the combination of reliable public transport (tram, bus, or future metro), proximity to jobs or universities, and daily amenities like supermarkets, pharmacies, and green spaces within walking distance.
Finally, please note that we provide a very granular rental analysis in our property pack about Belgrade.
What are the average long-term monthly rents by neighborhood in Belgrade in 2026?
As of early 2026, average long-term monthly rents in Belgrade range from roughly 40,000 RSD (about 340 euros) for a basic apartment in outer Palilula to over 170,000 RSD (about 1,450 euros) for a premium furnished unit in Belgrade Waterfront or central Stari grad.
For entry-level apartments in Belgrade's most affordable neighborhoods like Borča, Krnjača, or outer Rakovica, typical monthly rents range from 35,000 to 55,000 RSD (approximately 300 to 470 euros) for a one-bedroom or small two-bedroom.
In mid-range Belgrade neighborhoods such as Zvezdara near Vukov spomenik, parts of Voždovac, or standard Novi Beograd blocks, expect to pay 65,000 to 95,000 RSD per month (roughly 550 to 810 euros) for a furnished one or two-bedroom apartment.
At the top end, premium Belgrade neighborhoods like Vračar's Crveni krst, Dorćol in Stari grad, and Belgrade Waterfront command 100,000 to 175,000 RSD monthly (approximately 850 to 1,500 euros), with exceptional units going even higher.
You may want to check our latest analysis about the rents in Belgrade here.
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Which Are the Up-and-Coming Areas to Invest in Belgrade?
Which neighborhoods in Belgrade are gentrifying and attracting new investors in 2026?
As of early 2026, the Belgrade neighborhoods showing the clearest gentrification signals are Karaburma in Palilula (benefiting from metro route announcements), parts of Banovo brdo in Čukarica (attracting family buyers seeking value), and select streets near Gardoš in Zemun (where heritage charm meets limited historic stock).
These gentrifying Belgrade neighborhoods have experienced annual price appreciation of roughly 7% to 12% over the past two years, outpacing the citywide average of 5% to 6%, as early investors capitalize on infrastructure news and changing perceptions.
Which areas in Belgrade have major infrastructure projects planned that will boost prices?
The Belgrade areas with the most significant infrastructure-driven price potential are the Metro Line 1 corridor (especially stations at Železnik, Makiš, Banovo brdo, and Karaburma) and the EXPO 2027 development zone in Surčin.
Metro Line 1 Phase 1 will connect Železnik in the southwest to Pančevački Bridge in the northeast, with 15 stations across roughly 15 kilometers and a target completion now pushed to 2030, while EXPO 2027 in Surčin is driving road, rail, and utility upgrades ahead of the international exposition.
Historically, Belgrade areas that received major transport upgrades (like the BG Voz commuter rail improvements) saw price premiums of 10% to 20% materialize within two to three years of operational service, suggesting similar potential for metro-adjacent properties once timelines firm up.
You'll find our latest property market analysis about Belgrade here.
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 Areas in Belgrade Should I Avoid as a Property Investor?
Which neighborhoods in Belgrade with lots of problems I should avoid and why?
Foreign investors new to Belgrade should approach with caution the flood-prone outer zones of Palilula (especially parts of Borča, Krnjača, and Ovča), very old walk-up buildings in Stari grad without elevators or maintenance plans, and speculative peripheral plots in far Surčin or Obrenovac where resale liquidity is thin.
Here are the specific issues affecting each of these Belgrade areas:
- Outer Palilula (Borča, Krnjača, Ovča): flood risk on certain streets, weak public transport, and difficulty finding tenants
- Old Stari grad walk-ups: unpredictable renovation costs, unclear building governance, and heritage permit complexity
- Far Surčin and Obrenovac: low transaction liquidity makes exit difficult, and high car dependency limits tenant pool
For these areas to become viable investment options, they would need reliable flood mitigation (for Palilula), professional building management (for old Stari grad stock), or completed transport links and commercial development (for peripheral zones).
Buying a property in the wrong neighborhood is one of the mistakes we cover in our list of risks and pitfalls people face when buying property in Belgrade.
Which areas in Belgrade have stagnant or declining property prices as of 2026?
As of early 2026, Belgrade does not have entire municipalities with outright price declines (the RGZ index shows continued moderate growth citywide), but certain micro-markets are experiencing flat or below-inflation appreciation, effectively stagnating in real terms.
These underperforming Belgrade pockets have seen annual price growth of just 0% to 2%, compared to the citywide average of 5% to 6%, meaning investors who bought at peak asking prices may be underwater after transaction costs.
Here is what is causing stagnation in specific Belgrade micro-markets:
- Oversupplied outer Novi Beograd blocks: too much similar inventory competing for the same tenant pool pushes rents flat
- Buildings with poor energy performance: rising utility costs make inefficient apartments less attractive to renters and buyers
- Locations near prolonged construction: areas affected by metro tunneling or road expansion suffer temporary demand suppression
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Which Areas in Belgrade Have the Best Long-Term Appreciation Potential?
Which areas in Belgrade have historically appreciated the most recently?
Over the past five to ten years, the Belgrade areas with the strongest price appreciation are Savski venac (driven by Belgrade Waterfront development), Vračar (sustained local demand and limited supply), Stari grad (heritage scarcity premium), and Palilula's central pockets (spillover from the core).
Here are the approximate appreciation figures for these top-performing Belgrade areas:
- Belgrade Waterfront (Savski venac): roughly 80% to 120% cumulative growth since project launch, from a low base
- Vračar (Crveni krst, Kalenić): approximately 60% to 80% over ten years, with steady 5% to 8% annual gains
- Stari grad (Dorćol): around 50% to 70% over ten years, accelerating in the past three years
- Central Palilula: roughly 30% to 50% over five years, with a notable 32% spike in 2024-2025
The main driver behind this above-average appreciation in Belgrade was the combination of constrained land supply in central municipalities, a domestic savings culture that favors real estate over financial markets, and significant infrastructure investment that improved connectivity.
By the way, you will find much more detailed trends and forecasts in our pack covering there is to know about buying a property in Belgrade.
Which neighborhoods in Belgrade are expected to see price growth in coming years?
Looking ahead, the Belgrade neighborhoods expected to deliver the strongest price growth through 2028 are Novi Beograd's prime blocks (Blok 21 through 29), central Vračar (Crveni krst and Kalenić), metro-adjacent areas in Čukarica (Železnik, Banovo brdo), and select Zvezdara locations near Vukov spomenik.
Here are the projected annual price growth rates for these high-potential Belgrade neighborhoods:
- Novi Beograd (Blok 21-29): estimated 5% to 7% annually, supported by corporate demand and infrastructure improvements
- Vračar (Crveni krst, Kalenić): projected 4% to 6% annually, driven by supply scarcity and lifestyle appeal
- Metro corridor (Železnik, Banovo brdo): potential 7% to 10% annually once construction timelines firm up (higher risk)
- Zvezdara (Vukov spomenik): expected 5% to 7% annually as affordability attracts buyers priced out of the core
The single most important catalyst for future price growth in these Belgrade neighborhoods is the Belgrade Metro Line 1 project, which will reshape commute patterns and make previously peripheral areas viable for city center workers.
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 Do Locals and Expats Really Think About Different Areas in Belgrade?
Which areas in Belgrade do local residents consider the most desirable to live?
The Belgrade areas that local residents consistently rank as most desirable are Vračar (especially Kalenić and Crveni krst), Stari grad (particularly Dorćol and the historic core), and Savski venac (the Senjak and Dedinje edges for prestige, plus Belgrade Waterfront for modern lifestyle seekers).
Here is what makes each of these areas most desirable to Belgrade locals:
- Vračar (Kalenić, Crveni krst): walkable urban life with excellent schools and strong community identity
- Dorćol (Stari grad): historic character and creative energy near Kalemegdan without tourist crowds
- Senjak and Dedinje (Savski venac): prestige addresses with larger properties, greenery, and embassy-district appeal
These locally-preferred Belgrade areas attract primarily upper-middle-class Serbian families, established professionals, and multigenerational households who prioritize quality of daily life over investment returns.
Local preferences in Belgrade largely overlap with foreign investor targets, though locals place more weight on school quality and neighborhood community, while foreign buyers often prioritize rental yield potential and resale liquidity.
Which neighborhoods in Belgrade have the best reputation among expat communities?
The Belgrade neighborhoods with the strongest reputation among expat communities are Novi Beograd (especially Blok 21 through 29 near business parks), Belgrade Waterfront in Savski venac, and central Vračar around the Temple of Saint Sava area.
Here is why expats prefer these Belgrade neighborhoods over others:
- Novi Beograd (Blok 21-29): modern buildings with reliable elevators, parking, and proximity to international companies
- Belgrade Waterfront (Savski venac): new construction with predictable building management and riverfront lifestyle
- Vračar (Temple area): European inner-city feel with walkable cafés and a sense of authentic Belgrade life
The typical expat profile in these popular Belgrade neighborhoods includes corporate transferees from IT and finance companies (in Novi Beograd), diplomatic and NGO staff (across Vračar and Savski venac), and digital nomads attracted by Belgrade's cost of living.
Which areas in Belgrade do locals say are overhyped by foreign buyers?
The three Belgrade areas that locals most commonly describe as overhyped by foreign buyers are Belgrade Waterfront (seen as overpriced relative to comparable new builds), certain Stari grad tourist streets (priced for Airbnb potential), and marketed "luxury" developments in outer locations lacking genuine neighborhood infrastructure.
Here is why locals believe these Belgrade areas are overvalued:
- Belgrade Waterfront: excellent product but premium pricing often does not translate to proportionally higher rents
- Tourist-zone Stari grad: foreign buyers pay for short-term rental potential that requires active management and faces saturation
- Outer "luxury" projects: marketing oversells locations that lack daily amenities and transport links residents need
What foreign buyers see in these areas that locals do not value as highly is the international branding, modern aesthetics, and perceived prestige, while locals prioritize school catchments, reliable heating, building community, and genuine neighborhood character.
By the way, we've written a blog article detailing the experience of buying a property as a foreigner in Belgrade.
Which areas in Belgrade are considered boring or undesirable by residents?
The Belgrade areas most commonly described by residents as boring or undesirable include some outer Novi Beograd residential blocks far from commercial centers, peripheral zones in far Surčin and Obrenovac, and monotonous post-war housing estates lacking character.
Here is why residents find these Belgrade areas less appealing:
- Outer Novi Beograd blocks: uniform architecture, limited street-level retail, and a "dormitory" feel with little evening activity
- Far Surčin and Obrenovac: long commutes, few cultural or dining options, and underdeveloped public spaces
- Generic housing estates: lack of distinctive identity, aging infrastructure, and minimal community amenities
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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 |
|---|---|---|
| Republic Geodetic Authority (RGZ) | Serbia's official transaction database from notarised contracts. | We used it as our primary reference for transaction pricing. We cross-checked asking prices against actual sales. |
| Statistical Office of Serbia (RZS) | The national statistics agency publishing official housing data. | We extracted municipality-level new-build prices. We converted RSD to euros using NBS rates. |
| Cushman & Wakefield CBS International | A major consultancy with structured Belgrade market tracking. | We validated which municipalities have liquid markets. We used their forecasts for price projections. |
| National Bank of Serbia (NBS) | The central bank's official view on credit and stability. | We referenced mortgage availability and interest rates. We used their macro projections for context. |
| AirDNA | An established STR analytics provider using platform data. | We anchored Airbnb occupancy and revenue estimates. We identified oversaturation in tourist zones. |
| City Expert | A leading Serbian real estate platform with extensive listings. | We observed live rental prices to calculate yields. We validated neighborhood rent ranges. |
| PUC Belgrade Metro and Train | The city's official metro entity publishing route details. | We identified specific future metro stations. We used timeline updates to assess construction risk. |
| Expo 2027 Belgrade | The official platform describing the exposition plans. | We justified why Surčin has infrastructure attention. We treated announcements as signals, not guarantees. |
| Global Property Guide | An international property data provider with clear methodology. | We used their Serbia yield calculations as benchmarks. We cross-referenced price data with RGZ figures. |
| St. Louis Fed (FRED) | A documented macro dataset sourced from BIS standards. | We checked whether Serbia is in a boom or bust cycle. We kept this secondary to local RGZ data. |
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