Yes, the analysis of Belgrade's property market is included in our pack
The question of 'the best neighborhood to buy a property in Belgrade' does not have a one-size-fits-all answer.
Some of you are buying to live there, while others want to make the best investment possible. Individual preferences and circumstances matter.
That’s why the article below is covering every intent.
At Investropa, when we write a blog post or when we update our our property pack for Serbia, we want to bring solutions and cover different aims in a clear and organized way.
Enjoy the read, and please remember that we are not financial or investment experts. This article is for informational purposes only.
To improve the readability and user-friendliness of this article, we will categorize neighborhoods in Belgrade into various groups, including budget-friendly options, emerging hotspots, and areas with high rental demand, among others. Consequently, some neighborhoods may appear in multiple categories and be mentioned several times throughout the article.
Make a profitable investment in Belgrade
Better information leads to better decisions. Save time and money. Download our guide.
How is the real estate market in Belgrade?
The real estate market in Belgrade is quite dynamic and intriguing, particularly for those who appreciate the unique blend of history, culture, and modern development that the city offers.
A key strength of Belgrade is its rich historical and cultural heritage, which is unlike any other city. For instance, the Belgrade Fortress, standing at the confluence of the River Sava and Danube, offers a living testament to the city's varied past, attracting both history enthusiasts and those who appreciate a blend of past and present in their living environment.
People are drawn to buy in Belgrade for several reasons. The city's vibrant cultural scene, marked by numerous festivals, events, and a lively nightlife, appeals to a younger demographic and professionals seeking a balance between work and leisure.
Additionally, Belgrade's growing IT and business sector has made it a hub for professionals in these fields. This blend of historical charm and modern amenities makes the city an attractive option for a diverse range of buyers, from young professionals to retirees.
Foreign interest in Belgrade's real estate is particularly high. This can be attributed to the relatively affordable property prices compared to other European capitals, combined with the high quality of life and potential for investment growth.
The city's strategic location, serving as a gateway between Eastern and Western Europe, adds to its appeal for international investors and expatriates.
The dynamism of Belgrade's real estate market is evident in its development trends.
For example, the increase in new construction projects, particularly in the New Belgrade area, shows a healthy and growing market. This is a testament to the city's economic growth and the increasing demand for modern living spaces.
A unique aspect of properties in Belgrade is their architectural diversity, which reflects the city's complex history.
From Ottoman and Austro-Hungarian influences to socialist-era buildings and modern developments, this architectural tapestry is not just aesthetically pleasing but also speaks to the city's resilience and adaptability.
Looking to the future, properties in Belgrade are expected to gain value for several reasons.
The ongoing urban renewal and development projects, such as the Belgrade Waterfront, are transforming the cityscape and enhancing its appeal.
Additionally, Serbia's potential EU candidacy could boost economic growth and further stimulate the real estate market.
The city's continuous effort to improve infrastructure and quality of life, coupled with its growing international reputation as a desirable living and investment destination, suggests a bright future for the Belgrade real estate market.
Top neighborhoods in Belgrade to consider for living
Areas in Belgrade that are budget-friendly
If you're looking to buy property in Belgrade on a budget, there are a few neighborhoods you might want to consider.
Here is a summary table. Below, we will give more details.
| Neighborhood | Average Price per Sqm | Property Types | Resident Demographic | Potential for Value Increase | Strengths | Weaknesses |
|---|---|---|---|---|---|---|
| Palilula | Lower than central Belgrade | Older apartments, newer developments | Young professionals, families | Ongoing urban development | Quieter, residential, affordable | Less vibrant, fewer amenities |
| Zemun | Reasonable | Traditional houses, older apartments | Families, older residents | Cultural heritage, infrastructure enhancement | Unique charm, community feel | Far from city center, need for modernization |
| Voždovac | Competitive | Older, spacious apartments, newer constructions | Students, families, professionals | Urban development, improving connectivity | Balance of affordability and access | Lacks immediate amenities in some parts |
Palilula
This area is known for its affordability mainly due to its location slightly away from the city center and the mix of older and newer buildings.
Prices in Palilula are more reasonable compared to the more central districts. You can find a variety of properties, including older apartments that offer more space for your money and newer developments.
The average price per square meter in Palilula tends to be lower than in central Belgrade, making it attractive for budget-conscious buyers. The residents here are a mix of young professionals and families, appreciating the quieter, more residential atmosphere.
In terms of future value, Palilula has potential due to ongoing and planned urban developments. However, the downside is that some parts may lack the vibrancy and amenities of more central areas.
Zemun
Historically a separate town, Zemun merges affordability with a unique charm.
The area's lower prices are partly due to its distance from the city center and the prevalence of older, less modernized properties. In Zemun, you'll find a mix of traditional houses and older apartment buildings, with the average price per square meter being quite reasonable.
The neighborhood is popular among families and older residents, drawn by its more relaxed, community-oriented feel. Zemun's property values might rise due to its cultural heritage and ongoing efforts to enhance local infrastructure.
However, the distance from central Belgrade and the need for modernization in some parts are points to consider.
Voždovac
Voždovac offers a balance between affordability and access to the city.
The prices in Voždovac are lower compared to central Belgrade, mostly because of the area's blend of older buildings and its location a bit further from the city's core. The properties available range from older, spacious apartments to newer constructions.
The average price per square meter in Voždovac is competitive, attracting a diverse demographic, including students, families, and working professionals. The potential for property value increase lies in Voždovac's continuous urban development and its improving connectivity to the city center.
However, some parts of Voždovac might lack the immediate amenities and atmosphere of more central neighborhoods.
Don't lose money on your property in Belgrade
100% of people who have lost money in Serbia have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
Areas in Belgrade that are popular and upscale
When looking to buy property in Belgrade, three neighborhoods stand out as upscale and popular choices. These neighborhoods each have their unique character and draw different types of residents.
| Neighborhood | Average Price/sqm | Property Types | Resident Demographics | Strengths | Weaknesses |
|---|---|---|---|---|---|
| Dedinje | €3,000+ | Houses, Some Apartments | Affluent, Diplomats | Privacy, Green Spaces | Feels Isolated |
| Vračar | €2,500 | Mix of Old & New Apartments | Young Professionals, Families | Cultural Significance, Central | Limited Parking |
| Senjak | €2,800 | Houses, Villas | Expats, Wealthy Locals | Peaceful, Good Schools | Higher Cost of Living |
Dedinje
Dedinje is known for its luxury and exclusivity.
It's expensive because it's home to many embassies, mansions, and diplomatic residences. The area promises to stay hyped due to its status and serene environment. You'll find mostly large houses and a few high-end apartments in Dedinje.
The average price per square meter in Dedinje can be quite high, often exceeding €3,000. It's a neighborhood of the affluent, often preferred by diplomats and business executives.
The strengths lie in its privacy, green spaces, and prestigious schools. However, its exclusivity can be a downside as it may feel isolated from the vibrant city life.
Vračar
Vračar is another sought-after area, prized for its central location and cultural significance.
Properties in Vračar are expensive, with average prices around €2,500 per sqm. It's likely to remain in demand due to its blend of historical charm and modern amenities.
The area offers a mix of old and new apartments. It attracts a diverse crowd, from young professionals to well-established families.
Its strengths are the proximity to key city landmarks and a lively atmosphere. The downside can be the limited parking and busy streets.
Senjak
Senjak is a high-end residential area, known for its spacious homes and greenery.
Property prices in Senjak are on the higher end, often around €2,800 per sqm. It's expected to maintain its popularity, especially among expats and wealthy locals. You'll find a variety of properties in Senjak, from older houses to new villas.
It's favored by families and professionals seeking a quieter lifestyle. The area is well-connected yet peaceful, offering good schools and recreational facilities.
The drawback might be the higher cost of living and less frequent public transport.
Make sure you understand the real estate market in Belgrade
Don't rush into buying the wrong property in Serbia. Sit, relax and read our guide to avoid costly mistakes and make the best investment possible.
Areas in Belgrade that emerge as new hotspots
Let's explore these emerging neighborhoods in Belgrade that, according to our local partners and our customers, are getting quite a bit of buzz lately.
| Neighborhood | Average Price/sqm | Emergence Reason | Resident Demographics | Strengths | Weaknesses |
|---|---|---|---|---|---|
| Zemun | €1,800 | Historical Charm, Riverfront | History Enthusiasts | Cultural Heritage | Far from Center |
| Savamala | €2,000 | Nightlife, Art Scene | Artists, Young Professionals | Cultural Vibrancy | Noisy, Crowded |
| Dorćol | €2,200 | Cafes, Boutiques, Galleries | Artists, Young Families | Lively Atmosphere | Gentrification Issues |
Zemun
Initially, Zemun was known for its historical and cultural identity, separate from central Belgrade.
Recently, it has evolved into a trendy hotspot, thanks to its charming old town and Danube riverfront. The area is becoming popular for its unique blend of traditional and modern living. Prices in Zemun are slightly cheaper, around €1,800 per sqm, because it's still up-and-coming.
It's expected that prices will rise as the area gains more popularity. Zemun attracts those who appreciate its historical roots, scenic views, and quieter pace of life.
Its strengths are its cultural heritage and dining scene, while the distance from the city center is a drawback.
Savamala
Once an industrial zone, Savamala is now a hub for creative and young urbanites.
It's gaining popularity due to its vibrant nightlife, art scene, and urban renewal projects.
Property prices in Savamala are more affordable, around €2,000 per sqm, but are likely to increase as the area develops further. It's a magnet for artists, students, and young professionals.
The neighborhood's strengths include its cultural vibrancy and central location. However, it can be noisy and crowded, which might not appeal to everyone.
Dorćol
Dorćol holds a blend of historic charm and contemporary lifestyle.
Initially a traditional area, it's becoming trendier with new cafes, boutiques, and galleries. Property prices in Dorćol are a bit lower, around €2,200 per sqm, offering value for its location.
The neighborhood is expected to keep gaining popularity, especially among the young and culturally inclined. Dorćol attracts a mix of residents, from artists to young families.
Its strengths are its rich history and lively atmosphere, but it can sometimes struggle with gentrification issues.
Make a profitable investment in Belgrade
Better information leads to better decisions. Save time and money. Download our guide.
Top neighborhoods in Belgrade to invest in property
Areas in Belgrade with a strong rental demand
If you're considering buying real estate in Belgrade for renting it out, these neighborhoods with high demand for rentals should be considered.
| Neighborhood | Tenant Demographics | Property Type | Rental Income | Rental Yield | Tips | Weaknesses |
|---|---|---|---|---|---|---|
| Vračar | Professionals, Students | Older Apartments | €500-€700/month | 5-6% | Near transport, popular streets | Limited parking, old buildings |
| New Belgrade | Expatriates, Young Professionals | Newer Apartments | €600-€800/month | 4-5% | Near business parks, riverfront | Oversupply risk, impersonal |
| Dorćol | Expats, Cultural Enthusiasts | Varying | €700-€900/month | 4-6% | Close to popular spots | Scarcity of parking, noise |
Vračar
Vračar is a sought-after area due to its central location, historical charm, and proximity to major landmarks like the Saint Sava Temple.
It attracts a mix of professionals and students, seeking convenience and a vibrant lifestyle. Typical properties in Vračar are older, well-maintained apartments, often in need of some renovation.
You can expect a rental income of around €500-€700 per month for a one-bedroom apartment in Vračar. The rental yield in Vračar hovers around 5-6%, with renovated units at the higher end.
For better rental income, focus on properties near major transport links or popular streets like Njegoševa. The main weaknesses include limited parking and older building infrastructure.
New Belgrade
New Belgrade is popular among expatriates and young professionals, drawn by modern amenities and business centers.
In New Belgrade, the demand is for newer, well-equipped apartments. You can expect to earn €600-€800 per month for a two-bedroom apartment in New Belgrade.
The rental yield in New Belgrade is around 4-5%. To increase your chances of higher income, look for properties near business parks or the riverfront.
However, be aware of the potential oversupply of new apartments and the somewhat impersonal atmosphere of the area.
Dorćol
Dorćol blends historical ambiance with a modern lifestyle, attracting a diverse range of tenants, including expats and cultural enthusiasts.
Properties in Dorćol range from charming old buildings to modern apartments. Rental income for a two-bedroom apartment in Dorćol can be between €700-€900 per month, with yields around 4-6%.
To maximize rental potential, consider properties close to popular spots like Knez Mihailova Street or the Danube waterfront.
The downside is the scarcity of parking and the possibility of noise due to its lively nature.
Don't lose money on your property in Belgrade
100% of people who have lost money in Serbia have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
Areas in Belgrade where property prices might increase in the future
In these areas in in Belgrade you can still find properties at a reasonable price, with room for appreciation as the neighborhoods develop.
| Neighborhood | Tenant Demographics | Property Type | Average Price/Night | Tips | Weaknesses |
|---|---|---|---|---|---|
| Stari Grad | Tourists, Business Visitors | Furnished Apartments | €50-€80 | Near attractions, unique features | Noise, competition |
| Savamala | Younger, Artistic Crowd | Stylish Studios/Apartments | €40-€70 | River views, near bars/cafes | Noise, edgy atmosphere |
| Zemun | Quiet Experience Seekers | Cozy Apartments/Houses | €35-€60 | River views, historic areas | Distance from city center |
Stari Grad
Stari Grad is ideal for short-term rentals due to its rich history and bustling nightlife.
Tourists and short-term business visitors in Stari Grad are the main tenants, seeking properties with character and modern amenities. Furnished apartments, especially those with a traditional Serbian flair, are in high demand.
You can charge around €50-€80 per night in Stari Grad. To increase profitability, look for properties near tourist attractions or with unique features.
However, the area can be noisy, and there might be competition from other short-term rentals.
Savamala
Savamala is popular for its artistic vibe and proximity to the Sava river.
It attracts a younger, hip crowd, often looking for something eclectic and comfortable. Well-furnished, stylish studios or one-bedroom apartments in Savamala are preferred, fetching around €40-€70 per night.
Properties with river views or close to popular bars and cafes in Savamala are more lucrative.
The downside is occasional noise and the slightly edgy atmosphere, which might not appeal to all.
Zemun
Zemun is known for its quaint, village-like atmosphere and beautiful riverside.
It appeals to those seeking a quieter, more authentic Belgrade experience.
Small, cozy apartments or houses with traditional charm in Zemun are popular, with prices around €35-€60 per night. Properties with river views or in historic parts of Zemun are particularly attractive.
However, its distance from the city center can be a disadvantage for some visitors.
Make sure you understand the real estate market in Belgrade
Don't rush into buying the wrong property in Serbia. Sit, relax and read our guide to avoid costly mistakes and make the best investment possible.