How much are apartments in major cities of Serbia – official statistics for the 1st quarter of 2023
Buying real estate in major cities of Serbia is becoming increasingly popular among foreign investors and tourists who want to purchase their own homes in this beautiful country. According to official data for the first quarter of 2023, the cost of real estate in Serbian cities varies depending on the area, year of construction, and condition of the property.
More detailed information on the cost of apartments in Serbian cities for the first quarter of 2023 is presented in the table below:
| City | Secondary market (euro/sqm) | New buildings (euro/sqm) |
|---|---|---|
| Belgrade | 2013 | 2465 |
| Novi Sad | 1928 | 1753 |
| Niš | 1221 | 1351 |
| Kragujevac | 975 | 1332 |
Prices for apartments in Serbia continue to rise. For example, over the past year, the average cost of secondary housing in Belgrade increased by 20%, reaching €2013 per square meter in the 1st quarter of 2023, up from €1668 per sqm in the 1st quarter of 2022. The price of new buildings in Novi Sad rose by 27%.
Despite the rise in real estate prices, in Belgrade, one can find offers to suit any taste and budget. For example, in the most expensive area of the city – Old Town – prices for apartments range from €1500 to €5000 per square meter, while in residential areas, the cost of housing is significantly lower.
In addition to the fact that buying real estate provides an opportunity to obtain residency in Serbia, it is also a profitable investment in a promising real estate market.
Results:
In the first quarter of 2023, housing prices in major Serbian cities continued to rise, indicating a high demand for housing in the country. The highest price growth is observed in Novi Sad, where housing prices increased by 27%. However, even with the price growth, there are areas in Belgrade where property can be purchased for prices ranging from €1500 to €5000 per square meter, providing options for any budget. Purchasing property in Serbia also grants the right to obtain a residence permit in the country.
