Authored by the expert who managed and guided the team behind the Serbia Property Pack
Everything you need to know before buying real estate is included in our Serbia Property Pack
Where are the best places to invest in Serbia right now? Is Belgrade still the top pick, or are cities like Novi Sad, Niš, and Kragujevac gaining ground? What makes these locations attractive to both local and foreign investors?
We’re often asked these questions because we work directly with notaries, real estate agents, and clients who invest across the country. Our firsthand experience in these markets gives us unique insights into where the real opportunities lie. To save everyone from asking privately, we’ve written this article to share our knowledge broadly.
Our goal is to highlight the hottest markets in Serbia and explain why they’re worth your attention in 2025.
If you have suggestions or want us to dive deeper into a specific area, let us know. You shoot an email, we answer within 24 hours.
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1) Zemun in Belgrade is drawing buyers with its unique architecture and lower prices
Zemun, a charming historical district of Belgrade, is catching the eye of property buyers with its unique architecture and more affordable prices compared to the city center.
In Zemun, the average price per square meter is about 2,240 euros, a stark contrast to the 3,500 to 6,000 euros you'd pay in central Belgrade. This makes Zemun a smart choice for those wanting to invest in real estate without spending a fortune.
Over the past couple of years, real estate prices in Belgrade, including Zemun, have risen by 15 to 20 percent in some areas, with certain spots seeing a jump of up to 30 percent. By the end of 2023, prices leveled off, holding steady from the previous year, which adds to Zemun's appeal as a stable investment.
What really sets Zemun apart is its architectural charm and historical significance. The area is a treasure trove of cultural and historical value, offering a unique blend of modern living with a historical twist. This makes it particularly attractive to those interested in heritage properties.
Additionally, Zemun's lower property prices offer the potential for good rental yields, making it an enticing opportunity for investors. The combination of affordability and historical allure is hard to resist.
Sources: Move to Serbia, Welcome to Serbia, Stan Na Dan
2) Pančevo is attracting investors with its industrial growth and new housing areas promising future value increases
Pančevo is quickly becoming a hotspot for investors due to its booming industrial growth.
The construction of the Hungary-Republic of Serbia oil pipeline, spearheaded by TRANSNAFTA AD Pancevo, is a major project that enhances energy security and diversifies crude oil supply routes. This development significantly boosts the region's industrial appeal, making it a magnet for investment.
Another key project is the petroleum products pipeline system in Serbia, which ensures safe and cost-effective transport of petroleum products. This initiative not only contributes to energy efficiency but also supports environmental protection, further solidifying Pančevo's attractiveness for industrial ventures.
On the residential side, Pančevo is witnessing new developments like the Bella Vista Estates, featuring 105 single-family homes and 14 duplexes. This surge in housing projects reflects a growing demand, fueled by the area's industrial expansion.
These residential projects are a clear sign of the promise of future property value increases, driven by the ongoing industrial developments. Investors are keenly eyeing these opportunities, anticipating significant returns.
With its strategic industrial projects and burgeoning residential areas, Pančevo is poised for a bright future, attracting both industrial and residential investors looking for promising growth.
Sources: TRANSNAFTA, Menomonee Falls
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.
3) Kopaonik is thriving with high demand for ski vacation homes and rentals
Kopaonik, Serbia's famous ski resort, is seeing a real estate boom with rising demand for vacation homes and rentals.
In 2023, the area saw a 12% increase in real estate transactions compared to the previous year. This uptick shows more people are keen on buying properties, likely drawn by the region's seasonal charm. Platforms like Airbnb are buzzing with vacation home listings, many boasting high ratings, which underscores the strong demand for short-term rentals.
Local real estate agencies are noticing a surge in interest for mountain resorts like Kopaonik. This trend fits with the broader desire for vacation homes in picturesque spots. New infrastructure, including hotels and better transport, is popping up, making the area even more appealing to buyers and investors.
Social media and media outlets are abuzz with Kopaonik's reputation as a top winter destination. This buzz is boosting its popularity and, in turn, the demand for real estate. The combination of these factors is fueling the ongoing real estate boom.
Insider knowledge suggests that Kopaonik's ski season is a major draw, with many properties being snapped up for rental income during peak times. The area's natural beauty and winter sports facilities are key attractions.
For those considering a purchase, Kopaonik offers not just a home but a lifestyle investment, with potential for both personal enjoyment and financial return. The region's growing popularity ensures a vibrant market for vacation properties.
Sources: Ekapija, Welcome to Serbia, Airbnb
4) Sremska Mitrovica is gaining interest with improved infrastructure and connectivity to major cities, appealing to commuters
Sremska Mitrovica is gaining traction in the real estate market due to its enhanced infrastructure and connectivity to major cities.
In recent years, particularly around 2023 and 2024, the city has seen significant improvements thanks to initiatives like the "Sava and Drina Rivers Corridors Integrated Development Program." This program has focused on enhancing the Sava River corridor, which has indirectly boosted regional connectivity for Sremska Mitrovica.
The city boasts excellent public transport links, with multiple bus connections to over 10 cities in Serbia, including major hubs like Belgrade and Novi Sad. It also connects internationally to countries such as Bosnia and Herzegovina, Croatia, and Slovenia. This extensive network makes Sremska Mitrovica an attractive option for commuters seeking a quieter lifestyle while working in larger cities.
Moreover, the increased frequency of bus departures from Sremska Mitrovica to major cities indicates a rise in the number of people traveling for work. With 13 national and 19 international bus departures, the city offers a high level of connectivity, making it easier for people to commute. This improved connectivity, along with the ongoing infrastructure projects, is making Sremska Mitrovica a more appealing place for people looking to buy property.
With 13 national and 19 international bus departures, the city offers a high level of connectivity, making it easier for people to commute. This improved connectivity, along with the ongoing infrastructure projects, is making Sremska Mitrovica a more appealing place for people looking to buy property.
Sources: ESP Community, GetByBus, Statista
5) Niš is attracting investors with its growing tech industry and cheaper property prices than Belgrade
Niš is quickly becoming a prime spot for real estate investment thanks to its booming tech industry.
In recent years, Serbia's IT sector has exploded, and Niš is right at the heart of this growth. The city is buzzing with new tech startups and established companies setting up shop, which is turning Niš into a recognized tech hub. This influx of tech activity is not just a trend; it's a transformation that's reshaping the city's landscape.
Niš's appeal is further boosted by the development of tech hubs and innovation centers. Since 2015, Serbia has invested in several science and technology parks, including a significant one in Niš. These parks offer the infrastructure and services that tech companies need, making Niš a magnet for tech professionals. This has led to a surge in job opportunities, drawing more talent to the city.
But it's not just the tech scene that's drawing attention. Property prices in Niš are much more affordable than in Belgrade, making it an attractive option for investors. While exact figures aren't specified, the general consensus is that you get more bang for your buck in Niš. This affordability, coupled with the tech-driven demand for housing, is creating a perfect storm for real estate growth.
For those looking to invest, Niš offers a unique combination of a thriving tech industry and lower property costs. The city's transformation into a tech hub is not just about business; it's about creating a vibrant community where people want to live and work. This makes Niš not only a smart investment but also a place with a promising future.
As the tech industry continues to grow, the demand for housing in Niš is expected to rise, further solidifying its status as a real estate hotspot. Investors are taking note, and the city's potential is becoming increasingly hard to ignore.
Sources: CBS News, Welcome to Serbia, Esteri
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6) Čačak is gaining interest for its affordable homes and new factories boosting jobs and housing demand
Čačak is becoming a hotspot for affordable housing and new job opportunities thanks to recent industrial developments.
In 2023 and 2024, several major companies announced plans to open factories in Čačak, with the German metal industry giant PWO starting construction on a large factory in May 2024. This marked a significant industrial growth in the area, drawing attention from potential homebuyers and investors.
The arrival of these factories is creating a surge in job opportunities. Investments in the automotive industry, including those by PWO and Jiangsu Lianbo Precision Technology, are expected to generate a substantial number of jobs. This influx is likely attracting more people to move to Čačak, increasing the demand for housing.
The Serbian government is actively promoting investments in the automotive sector, which further supports the city's growth. This governmental push is making Čačak an attractive location for both businesses and residents, as the local economy continues to strengthen.
With the establishment of new factories and the growth of the automotive industry, Čačak is seeing a boost in its local economy. This makes it an appealing place for those looking to buy property, as the housing market remains affordable while job opportunities rise.
For those considering a move, Čačak offers a unique blend of affordability and opportunity, driven by its expanding industrial base and supportive government policies. The city's transformation is a testament to its potential for future growth.
Sources: Intellinews, World Bank
7) Subotica is gaining attention for its high rental yields and strategic location near the Hungarian border
Subotica is catching eyes for its high rental yields, thanks to its strategic location near the Hungarian border.
This prime spot has turned Subotica into a hub for cross-border business activities, boosting demand for housing and commercial spaces. The trade between Serbia and Hungary is thriving, with Hungary exporting a whopping $3.42 billion worth of goods to Serbia in 2022, while Serbia sent $1.69 billion back. This bustling trade is likely to fuel business growth in Subotica, drawing in more businesses and residents.
Subotica's real estate market is on the rise, thanks to urban development projects and economic stability. These factors are expected to push property prices up, making the city a hot spot for investment. The growth of small and medium-sized enterprises (SMEs) is another sign that Subotica is becoming a hub for entrepreneurial activity, which can drive rental demand and property investment.
The local government is also playing its part by investing in infrastructure development and urban revitalization projects. These efforts aim to enhance the city's infrastructure, making it a more appealing place to live and work.
With all these elements in play, Subotica is becoming a magnet for investors looking for promising returns. The city's strategic location, coupled with its growing business activities, is creating a perfect storm for real estate growth.
Sources: Sprat.rs, OEC World, Course Hero
8) Novi Sad’s Grbavica neighborhood is rising fast with its closeness to the city center and university driving property demand
Grbavica in Novi Sad is becoming a hot spot for property buyers.
In recent years, property values in Grbavica have been on the rise, thanks to its prime location near the city center and the University of Novi Sad. This makes it a magnet for both investors and students. The neighborhood's charm lies in its blend of urban convenience and vibrant student life, offering a unique appeal that few other areas can match.
Despite a slight dip in early 2024, property prices in Grbavica showed resilience. According to Nekretnine.rs, there was a 4.13% decrease in prices per square meter in January 2024, but demand stayed strong. Looking ahead, experts predict a 3% to 7% increase in property prices by 2025, driven by the area's growing allure to both international buyers and local residents.
The rental market is also buzzing, largely due to the student influx from the nearby university. Even though rents fell by 4.13% in January 2024, this drop highlights the high demand for rental properties in Grbavica. Investors are keen on this area for its potential to offer higher rental yields, making it a smart choice for those looking to capitalize on the student population.
Urban development projects are further enhancing Grbavica's infrastructure, boosting its appeal. The neighborhood is seeing improvements that make it even more attractive to both investors and residents. Real estate agents frequently highlight Grbavica as a growth area, emphasizing its proximity to key locations as a major draw.
Media coverage and testimonials from real estate professionals point to a growing interest in Grbavica, underscoring its potential as a lucrative investment opportunity. The neighborhood's strategic location and ongoing development projects are key factors driving this interest, making it a prime spot for those looking to invest in Novi Sad.
Sources: Welcome to Serbia, Properstar
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.
9) Vračar in Belgrade is in demand for its luxury apartments and vibrant cultural scene, driving property appreciation
Vračar district in Belgrade is a hotspot for luxury apartments and a lively cultural scene.
In recent years, the average price per square meter in Vračar has surged, making it one of the priciest areas in the city. This trend is likely to persist as demand remains high and the supply of luxury housing is limited. The area is particularly appealing to international buyers, who are drawn to its upscale living options.
Vračar is not just about luxury; it's also about innovation. The district is seeing a rise in tech-smart, energy-efficient apartments, which are a hit among young professionals and tech workers. Real estate agencies often spotlight Vračar as a prime investment area, thanks to its vibrant cultural scene and top-notch amenities.
The cultural life in Vračar is buzzing with events like the Vračar Summer Festival, which pulls in both locals and tourists. The district is dotted with galleries and museums, offering a deep dive into Serbia's artistic heritage. This unique blend of tradition and modern culture has been widely covered in the media.
Living in Vračar means being part of a community that values both luxury and culture. The district's appeal is further enhanced by its proximity to key city attractions and its reputation for being a cultural hub. Whether you're an art lover or a tech enthusiast, Vračar offers something for everyone.
For those considering a property investment, Vračar stands out as a district where property appreciation is almost guaranteed. Its combination of luxury living, cultural richness, and modern amenities makes it a top choice for buyers looking for both lifestyle and investment value.
Sources: Belgrade Turtle Cruise, Nekretnine.rs
10) Užice is emerging as a real estate hotspot with its scenic beauty and booming tourism driving property values up
Užice is turning into a real estate hotspot thanks to its stunning scenery and booming tourism.
Every year, more tourists are flocking to Serbia, and Užice is catching their eye. In 2024, tourist arrivals in Serbia saw a noticeable increase compared to the previous year, hinting that Užice is a key destination. This uptick in visitors is not just a fluke; it's a sign that Užice's charm is spreading far and wide.
The Serbian government is pouring money into Užice's infrastructure and tourism, which is a big deal. When a place gets better roads, parks, and attractions, property values tend to climb. This makes Užice more appealing not just to tourists but also to folks looking to buy property. Plus, local businesses are popping up to cater to these visitors, further boosting the area's allure.
Real estate agents are buzzing about the increased interest in Užice properties. They say the demand is driven by the city's picturesque setting and its growing tourism scene. This isn't just talk; it's a real trend that's pushing property prices up. As more people discover Užice, the competition for homes and land is heating up.
The local government is also on a mission to make Užice a top tourist spot. They're investing in tourism infrastructure and rolling out marketing campaigns to draw in more visitors. These efforts are paying off, as property values in Užice are on the rise. It's a win-win for the city and potential property buyers.
With all these factors at play, Užice is becoming a prime location for real estate investment. The combination of natural beauty, government support, and a thriving tourism industry is creating a perfect storm for property value growth. If you're thinking about buying property in the country, Užice should definitely be on your radar.
Sources: Statistical Office of the Republic of Serbia, Skift, CEIC Data
11) Kragujevac is booming with rising housing demand due to its expanding automotive industry and workforce
The real estate market in Kragujevac is booming thanks to the expansion of the automotive industry.
With companies like Fiat Serbia ramping up operations, the city is seeing a surge in job opportunities, especially in the metalworking sector, which is crucial for car manufacturing. This has attracted a wave of workers and their families, boosting the demand for housing.
Kragujevac's population, which stands at 171,186, is increasingly made up of working-age individuals. This demographic shift is driving the need for more homes, as people flock to the city for employment.
Interestingly, real estate prices have been stable, with the average price per square meter at 1,400 euros as of January 2024. This stability often signals a healthy market poised for growth, as it reflects a balance between supply and demand.
Construction projects are popping up all over the city, indicating that developers are keen to meet the rising housing demand. This construction boom is a clear response to the influx of new residents.
Sources: Welcome to Serbia, Wikipedia, Belgrade Property Market Report
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.