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Everything you need to know before buying real estate is included in our Serbia Property Pack
This blog post covers the current housing prices in Serbia as of the first half of 2026, with all the key figures you need to understand the market.
We constantly update this article with the latest available data from official Serbian sources.
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 Serbia.
Insights
- The median apartment in Serbia sells for around 92,000 euros, but Belgrade Waterfront units trade at 5,500 euros per square meter on average, which is more than three times the national median.
- About 86 to 89 percent of apartment transactions in Serbia involve units between 25 and 85 square meters, meaning most buyers target smaller and mid-sized homes rather than large properties.
- Serbia's real residential property prices have risen by roughly 51 percent over the past ten years after adjusting for inflation, according to BIS data published through FRED.
- New construction in Serbia does not always cost more than existing homes: nationwide, existing apartments actually average 1,856 euros per square meter versus 1,776 euros for new builds.
- The typical discount from listing price to final sale price in Serbia is around 6 percent, but it can reach 8 to 12 percent for properties needing renovation.
- Vračar in Belgrade commands some of the highest prices in Serbia, with existing apartments averaging 3,359 euros per square meter and ranging up to 7,200 euros.
- Buying a new-build apartment in Serbia means paying 10 percent VAT, while existing homes carry only a 2.5 percent transfer tax, making the total cost structure very different.
- Mortgage-financed purchases increased significantly in early 2025, which helped push Serbian apartment prices up by about 5 to 6 percent year-over-year.
- Entry-level apartments in smaller Serbian cities like Vranje can cost as little as 27,500 euros for a 35-square-meter unit in an older building.
- At the top end, Belgrade Waterfront penthouses have traded at nearly 9,800 euros per square meter, putting a 120-square-meter luxury unit above 1 million euros.
What is the average housing price in Serbia in 2026?
The median housing price is more useful than the average because it reflects what a typical buyer actually pays, without being distorted by a few extremely expensive or cheap transactions.
We are writing this as of the first half of 2026 using the latest available data from Serbia's Republic Geodetic Authority (RGZ), which we manually verified against official reports.
The median housing price for an existing apartment in Serbia in 2026 is approximately 10.85 million RSD, which converts to about $78,400 or around 92,400 euros. The average housing price is slightly higher at around 11.54 million RSD, or about $83,400 (98,400 euros), because some high-end transactions pull the mean upward.
About 80 percent of residential property transactions in Serbia in 2026 fall within a price range of roughly 2.64 million to 26.92 million RSD, which is $19,100 to $194,600 or 22,500 to 229,500 euros.
A realistic entry-level purchase in Serbia in 2026 would be around 3.23 million RSD ($23,300 or 27,500 euros), which could get you a 35-square-meter older apartment in a smaller city like Vranje.
A typical luxury property in the Serbia market in 2026 ranges from about 77.7 million RSD ($561,000 or 662,000 euros) for a 120-square-meter Belgrade Waterfront apartment, up to 138 million RSD ($998,000 or 1.18 million euros) for top-tier units in the same development.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Serbia.
Are Serbia property listing prices close to the actual sale price in 2026?
The estimated difference between listing prices and actual sale prices in Serbia in 2026 is around 6 percent on average, meaning buyers typically negotiate the asking price down by this amount.
This gap exists because many Serbian sellers list with a built-in negotiation buffer, especially when they are not under time pressure to sell. The discount can shrink to 3 to 4 percent for prime or scarce units in high-demand areas like central Belgrade, but it can widen to 8 to 12 percent for properties needing renovation or located in weaker micro-markets.
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What is the price per sq m or per sq ft for properties in Serbia in 2026?
As of early 2026, the median housing price per square meter for existing apartments in Serbia is 1,744 euros (about 204,660 RSD or $1,479), and the average is 1,856 euros (about 217,760 RSD or $1,574). Per square foot, that translates to a median of around 162 euros ($137 or 19,020 RSD) and an average of about 172 euros ($146 or 20,240 RSD).
Small apartments like studios and one-bedrooms in central, high-demand areas have the highest price per square meter in Serbia in 2026 because the location premium gets concentrated into fewer square meters, while larger units in peripheral areas or buildings needing work have the lowest price per square meter since fewer buyers can afford large total amounts.
In Serbia in 2026, the highest prices per square meter are found in Belgrade neighborhoods like Stari Grad and Vračar, where existing apartments range from about 1,500 to 7,200 euros per square meter. The lowest prices among Belgrade municipalities are in areas like Rakovica and parts of Čukarica, where existing apartments can start around 1,000 to 1,400 euros per square meter.
How have property prices evolved in Serbia?
Compared to one year ago, property prices in Serbia have risen by about 5 to 6 percent as of the first half of 2026. This increase was driven mainly by a recovery in mortgage-financed purchases and continued tight supply in prime Belgrade locations.
Looking back ten years, Serbia's real residential property prices have climbed by roughly 51.5 percent after adjusting for inflation, according to the BIS index published through FRED. In nominal terms, prices have approximately doubled over the decade, reflecting sustained urban concentration in Belgrade and Novi Sad plus a market repricing after 2018.
By the way, we've written a blog article detailing the latest updates on property price variations in Serbia.
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 Serbia.
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 Serbia in 2026?
The Serbia residential market in 2026 is dominated by apartments, which make up about 75 percent of transactions, followed by houses at around 20 percent and other property types like villas and small multi-family buildings at roughly 5 percent, because most demand is concentrated in urban centers where apartment living is standard.
In Serbia as of the first half of 2026, a studio apartment in Belgrade typically costs around 9 million RSD ($76,000 or 77,000 euros), a one-bedroom around 12.2 million RSD ($103,000 or 104,000 euros), a two-bedroom around 16.6 million RSD ($140,000 or 142,000 euros), and a family three-bedroom around 28.9 million RSD ($244,000 or 246,000 euros). Suburban houses in Belgrade range from about 35 to 55 million RSD ($295,000 to $465,000 or 300,000 to 470,000 euros), while luxury apartments in Belgrade Waterfront start around 77.7 million RSD ($561,000 or 662,000 euros).
If you want to know more, you should read our dedicated analyses:
How do property prices compare between existing and new homes in Serbia in 2026?
In Serbia in 2026, new construction typically commands a premium of about 8 to 15 percent per square meter over comparable existing homes in prime zones, but this premium can shrink to nearly zero in non-prime areas where buyers sometimes prefer older buildings with better locations.
This variation happens because new builds offer modern energy standards, elevators, and parking, which matter most in central areas, while in peripheral neighborhoods these features add less perceived value compared to being near good schools or transit.
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How do property prices vary by neighborhood in Serbia in 2026?
In Vračar, one of Belgrade's most popular expat neighborhoods, you find mostly renovated pre-war apartments and some new infill projects, with prices averaging around 3,359 euros per square meter and ranging from about 1,887 to 7,212 euros. This premium exists because Vračar offers excellent walkability, a vibrant cafe culture, and an easy central commute.
Stari Grad, which includes the historic Dorćol area, features older apartments in the city core along with some premium renovated stock, with average prices around 3,669 euros per square meter and a range of 1,500 to 6,154 euros. Buyers pay more here for the closest-to-everything lifestyle, river access, and cultural amenities.
Novi Beograd offers larger and newer apartments in planned blocks and modern complexes, with existing homes averaging about 2,894 euros per square meter and ranging from 1,849 to 5,063 euros. Families and professionals choose this area for easier parking, newer buildings, proximity to office clusters, and more spacious layouts.
You will find a much more detailed analysis by areas in our property pack about Serbia. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Neighborhood | Character | Price Range (RSD and $) | Per Sqm (RSD and $) | Per Sqft (RSD and $) |
|---|---|---|---|---|
| Stari Grad | Premium, walkable | 10.6M - 43.3M RSD ($89k - $367k) | 176k - 722k RSD ($76 - $310) | 16.4k - 67.1k RSD ($7 - $29) |
| Vračar | Premium, expat-friendly | 13.3M - 50.8M RSD ($113k - $431k) | 221k - 846k RSD ($95 - $362) | 20.5k - 78.6k RSD ($9 - $34) |
| Savski Venac | Premium, luxury | 10.2M - 45.7M RSD ($86k - $387k) | 170k - 761k RSD ($73 - $326) | 15.8k - 70.7k RSD ($7 - $30) |
| Novi Beograd | Modern, commuter | 13M - 35.7M RSD ($110k - $302k) | 217k - 595k RSD ($92 - $252) | 20.1k - 55.3k RSD ($9 - $23) |
| Zvezdara | Balanced, value | 9.3M - 35.2M RSD ($79k - $298k) | 155k - 587k RSD ($66 - $249) | 14.4k - 54.5k RSD ($6 - $23) |
| Palilula | Mixed, value | 11.5M - 30.8M RSD ($97k - $261k) | 192k - 513k RSD ($81 - $217) | 17.8k - 47.7k RSD ($8 - $20) |
| Zemun | Family, riverside | 10.9M - 28.2M RSD ($92k - $238k) | 181k - 469k RSD ($77 - $199) | 16.8k - 43.6k RSD ($7 - $19) |
| Voždovac | Family, commuter | 10.6M - 32.7M RSD ($90k - $277k) | 176k - 545k RSD ($75 - $232) | 16.4k - 50.6k RSD ($7 - $22) |
| Čukarica | Family, green | 8.8M - 25M RSD ($75k - $212k) | 147k - 416k RSD ($62 - $177) | 13.6k - 38.7k RSD ($6 - $16) |
| Rakovica | Budget, entry-level | 8.9M - 20.1M RSD ($76k - $170k) | 149k - 335k RSD ($63 - $142) | 13.8k - 31.1k RSD ($6 - $13) |
| Belgrade Waterfront | Luxury, new-build | 26.1M - 69M RSD ($221k - $584k) | 435k - 1.15M RSD ($185 - $489) | 40.4k - 106.7k RSD ($17 - $45) |
| The One (project) | Premium, new-build | 21.1M - 33.5M RSD ($179k - $284k) | 352k - 559k RSD ($150 - $237) | 32.7k - 51.9k RSD ($14 - $22) |
How much more do you pay for properties in Serbia when you include renovation work, taxes, and fees?
When you include all taxes and fees, buyers in Serbia in 2026 typically pay an additional 6 to 9 percent on top of the purchase price for existing homes, or 12 to 15 percent for new builds where VAT applies.
If you buy a property for around $200,000 (about 23.5 million RSD or 170,000 euros) as an existing home, you would add roughly $12,000 to $18,000 in transfer tax, notary fees, legal costs, and registration. This brings your total cost to approximately $212,000 to $218,000.
For a property purchased at around $500,000 (about 59 million RSD or 425,000 euros), you would add around $30,000 to $45,000 in fees and taxes for an existing home. Your total outlay would reach approximately $530,000 to $545,000.
At the $1,000,000 level (about 118 million RSD or 850,000 euros), buying an existing home means adding roughly $60,000 to $90,000 in costs, bringing your total to approximately $1,060,000 to $1,090,000.
By the way, we keep updated a blog article detailing the property taxes and fees to factor in the total buying cost in Serbia.
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Serbia
| Expense | Category | Estimated Cost (RSD and $) |
|---|---|---|
| Real estate transfer tax | Taxes | 2.5% of the purchase price for existing homes. This applies when VAT is not charged. For a 100,000 euro property, this would be around 2,500 euros or about 293,000 RSD ($2,100). |
| VAT on new apartments | Taxes | 10% of the purchase price for new construction. This replaces the transfer tax for first-time sales from developers. A 200,000 euro new build would incur 20,000 euros VAT or about 2.35 million RSD ($17,000). |
| Notary and registration | Fees | Typically 0.3% to 1% of the property value depending on complexity. For a 150,000 euro property, expect around 450 to 1,500 euros or 53,000 to 176,000 RSD ($380 to $1,270). |
| Legal review | Fees | Usually 0.5% to 1.5% of the purchase price, or a fixed fee. Budget around 500 to 2,000 euros or 59,000 to 235,000 RSD ($420 to $1,700) for a typical transaction. |
| Agency commission | Fees | Commonly 2% to 3% of the sale price, though who pays varies by deal. On a 100,000 euro purchase, this could be 2,000 to 3,000 euros or 235,000 to 352,000 RSD ($1,700 to $2,550). |
| Light renovation | Renovation | Around $150 to $300 per square meter for basic work like painting, new floors, and small fixes. A 50 sqm apartment would cost roughly $7,500 to $15,000 or 745,000 to 1.49 million RSD. |
| Mid-level renovation | Renovation | Around $300 to $700 per square meter for kitchen and bathroom refreshes plus general updates. A 50 sqm apartment would run approximately $15,000 to $35,000 or 1.49 to 3.48 million RSD. |
| Full renovation | Renovation | Around $700 to $1,200 or more per square meter for major structural work, new systems, and high-end finishes. A 50 sqm apartment could cost $35,000 to $60,000 or 3.48 to 5.97 million RSD. |
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 Serbia in 2026 with different budgets?
With $100,000 in Serbia as of the first half of 2026, central Belgrade is generally out of reach except for very small or renovation-heavy units, but you could buy a 40 sqm existing one-bedroom in Novi Sad's outer ring, a newer 60 sqm two-room apartment in Niš, or a 30 to 35 sqm studio in Zemun (Belgrade) that needs some cosmetic work.
With $200,000, you could purchase a 55 to 60 sqm existing two-bedroom in an older Novi Beograd block in solid condition, a 65 sqm existing family two-bedroom near transit in Voždovac, or a small 35 to 40 sqm one-bedroom in an older Vračar building with a good micro-location.
With $300,000, you could buy an 85 sqm existing three-bedroom family apartment in good condition in Zvezdara, a 70 to 80 sqm semi-new apartment near the office clusters in Novi Beograd, or a renovated 45 to 55 sqm one-to-two-bedroom in an older Stari Grad building if you accept smaller size for a prime location.
With $500,000, you could get a large 90 to 110 sqm renovated apartment on a premium Vračar street, a high-floor 80 to 100 sqm new-build style unit in a premium Savski Venac micro-area, or a new-build three-bedroom of 110 to 130 sqm with parking and amenities in a premium Novi Beograd complex.
With $1,000,000, you could purchase a 120 sqm new luxury apartment in Belgrade Waterfront with high-end finishes, a trophy renovated apartment of 160 to 200 sqm in a historic Stari Grad building at a top micro-location, or a luxury penthouse-style unit of 140 to 180 sqm with a terrace on a premium Vračar street.
At $2,000,000, the market becomes thin and deal-specific, but you could find a very large 220 to 300 sqm Belgrade Waterfront penthouse with top-tier finishes, a high-end villa or apartment combination in the Dedinje or Senjak prestige zones, or a landmark-grade renovation of a very large space at a prime Stari Grad address.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Serbia.
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 Serbia, 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 Name | Why It's Authoritative | How We Used It |
|---|---|---|
| Republic Geodetic Authority (RGZ) | Serbia's official government body that maintains the Real Estate Price Register based on actual recorded transactions. | We used RGZ's H1 2025 report as our main dataset for typical prices per square meter, size distributions, and Belgrade neighborhood ranges. We also extracted their new versus existing home price splits and premium project data. |
| RGZ Apartment Price Index (Q2 2025) | This is RGZ's official price index built with international-standard methodology using verified transaction data. | We used this index to anchor the year-over-year price change figures in our analysis. We also used it to explain why prices can rise even when mortgage share and deal mix shift. |
| National Bank of Serbia (NBS) | Serbia's central bank publishes official middle exchange rates that serve as the reference for all official conversions. | We used NBS rates to convert all euro-based Serbian housing statistics into RSD, USD, and EUR consistently. We applied these rates to all budget examples to maintain uniform assumptions. |
| BIS via FRED | The Bank for International Settlements publishes a well-known international real property price dataset with transparent methodology. | We used this data to estimate Serbia's 10-year inflation-adjusted price change since the index is explicitly deflated by CPI. We also used it as a reality check to avoid overfitting to a single recent quarter. |
| KPMG Serbia | KPMG is an established professional services firm that summarizes Serbian tax rules with traceable legal references. | We used their guide to size the main buying costs including transfer tax and VAT rates. We built our fees and taxes table and worked examples based on their published figures. |
| CMS Law | CMS is a major international law firm that publishes expert guides on real estate transaction costs across jurisdictions. | We cross-referenced their Serbia guide with KPMG data to verify tax rates and fee structures. We used their explanations to clarify when VAT versus transfer tax applies. |
| National Bank of Serbia Inflation Data | The NBS publishes official inflation statistics for Serbia which are used in all macroeconomic calculations. | We used NBS inflation data to estimate the real versus nominal price growth over recent years. We applied this to give context to the year-over-year price changes. |
| RGZ Belgrade Municipality Tables | These official tables break down transaction prices by individual Belgrade municipalities with verified data. | We extracted price ranges for each neighborhood from these tables to build our neighborhood comparison. We calculated per-sqm and per-sqft figures for each area. |
| RGZ Premium Projects Data | RGZ separately tracks major new development projects like Belgrade Waterfront with specific transaction data. | We used this data to define luxury price ranges and provide specific examples at higher budget levels. We extracted both average and maximum prices per square meter. |
| RGZ Size Distribution Data | RGZ reports the size breakdown of actually traded apartments, showing what people really buy. | We used this to establish that 86 to 89 percent of transactions fall in the 25 to 85 sqm range. We multiplied typical sizes by price-per-sqm to estimate total transaction values. |
| RGZ City-Level Price Tables | RGZ publishes price data for major Serbian cities beyond Belgrade, enabling nationwide comparisons. | We used Vranje data to provide an entry-level example and Novi Sad data for mid-range budget scenarios. We compared city prices to establish the nationwide range. |
| Federal Reserve Economic Data (FRED) | FRED is a widely trusted repository of economic data maintained by the Federal Reserve Bank of St. Louis. | We accessed Serbia's BIS real property price index through FRED's transparent interface. We used their time series data to calculate the 10-year price change. |
| Bank for International Settlements (BIS) | The BIS is an international financial institution that compiles standardized property price indices for many countries. | We relied on their methodology for the real (inflation-adjusted) property price series. We used their data as published through FRED for consistency. |
| RGZ New Construction Data | RGZ tracks new-build transactions separately from existing homes, allowing direct comparison. | We used this split to analyze the premium (or lack thereof) for new construction versus existing homes. We identified that new builds don't always cost more nationwide. |
| RGZ Mortgage Share Data | RGZ reports what percentage of transactions are financed by mortgages versus cash purchases. | We used this to explain why prices rose in 2025, as mortgage-financed purchases increased significantly. We connected lending activity to price trends. |
| Local Market Practice Research | We researched standard negotiation patterns and agent practices in the Serbian market. | We used this research to estimate the typical 6 percent gap between listing and sale prices. We identified when discounts are larger or smaller based on property condition. |
| RGZ Median vs Average Data | RGZ publishes both median and average prices, allowing more nuanced market analysis. | We used median figures as our primary reference for typical transactions. We explained why the median is more useful than the average for buyers. |
| Professional Tax and Fee Schedules | Serbian notary, legal, and registration fee schedules are established by official tariffs. | We compiled these standard fees into our cost breakdown table. We estimated ranges based on typical transaction values and complexity levels. |
| Renovation Cost Market Research | We researched current contractor rates and material costs in the Belgrade market. | We used this to estimate per-sqm renovation costs at light, mid, and full levels. We applied these to worked examples for total cost calculations. |
| Real Estate Agency Practices | We researched standard commission structures used by agencies operating in Serbia. | We identified the typical 2 to 3 percent commission range for our fee table. We noted that payment responsibility varies by deal structure. |
| RGZ Historical Data | RGZ maintains historical transaction records allowing trend analysis over multiple years. | We used historical context to explain the post-2018 market cycle and repricing. We connected urban concentration trends to decade-long price growth. |
| Currency Conversion Methodology | We applied a consistent conversion method using official rates across all figures. | We converted all euro amounts to RSD and USD using late-December 2025 NBS middle rates. We maintained these rates throughout for consistency. |
| Statistical Rounding Methodology | We applied appropriate rounding to make figures easy to understand while remaining accurate. | We rounded all amounts to appropriate levels of precision for readability. We ensured rounded figures remained faithful to original source data. |
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