Serbia has no access to the sea. Therefore, the interest from foreign buyers here is not as great as in Montenegro or Croatia. Nevertheless, warm climate, picturesque views, low housing prices, and the ability to easily obtain a residence permit have traditionally attracted people to the local market. But times are changing. Let's talk about trends of 2020-2021.
The Pandemic Forced a Lifestyle Change
Buyers of real estate traditionally focused on the three largest cities of the country Belgrade, Novi Sad and Niš. However, from the start of the pandemic local residents began to leave megacities, as a rule, to the nearest suburbs, so as not to lose their old connections. This has also affected the real estate market.
During the first lockdown in March 2020, the number of transactions fell to a record low, but it quickly recovered, and in the fourth quarter reached a historic high.
In total, 112,000 transactions were concluded in 2020. This is 2.18% more than in the previous year, but 2019 was not the best for the market. Compared to earlier years, there is still a noticeable drop. The total amount of transactions amounted to €4.2 billion. Almost 50% of the market is sales in Belgrade. Vojvodina, an autonomous region where a quarter of the country's population lives, remains in second place with a share of 28%.
The real estate market was supported by two additional factors. Firstly, it is financial assistance from the state to business and the population. Secondly, a serious approach to vaccination. The country received vaccines from several world manufacturers early, and quickly launched a vaccination program. At one time, Serbia ranked third in the world in terms of the percentage of vaccinated. Now more than 40% of the population is vaccinated in the country.
The pandemic has changed the structure of demand: people have become more interested in detached houses, as well as in green areas, forests or on the banks of rivers, away from the city center. In mountain resorts such as Kopaonik, Zlatibor, Divchibare, the number of sales began to increase sharply, followed by a noticeable increase in prices. During the lockdown period, the jump in prices for country houses reached up to 20%, but then a correction occurred.
The number of apartment sales, on the contrary, decreased by 5.9%. In terms of sales, Belgrade suffered the most: the total value of transactions in the capital in 2020 was 6.12% less than in 2019. And yet urban housing is still the leader in the structure of demand. At the end of the year, 55% of the objects sold were apartments, about 10% were individual houses.
Landscapes in the vicinity the largest mountain resort in Serbia
Prices are Rising Up
The growth of real estate prices in Serbia has been observed over the past few years. The economy was developing, wages and prices for consumer goods were rising, but the value of real estate was growing not just with them, but with a significant advance.
According to a Deloitte study, in 2021 Serbia overtook all European countries in terms of such an indicator as the ratio of the cost of new housing and average wages. A new apartment with an area of 70 sq.m in the country requires an average salary for 15 years of work.
"Apartments for 15,000" which were hunted by foreigners are now in the past. What was on the market finds new owners who are in no hurry to sell, and new buildings are quite at the European level.
According to the statistical office of Serbia, in the second half of 2020, the average prices for new buildings in the country amounted to € 1,400 per sq.m. In the first half of 2021, they rose to €1,500. Thus, the growth in six months exceeded 7%.
According to this indicator, Serbia is approaching Hungary and Croatia and is significantly ahead of Bulgaria.
The highest prices for new housing were noted in Belgrade: an average of €2,150. The most expensive districts of the capital are traditionally Stari Grad and Savski Venac. The average area of sold housing in new buildings in Serbia was 56 sq.m.
For a year and a half (2020 and the first half of 2021) the price increase in Belgrade reached 21%.
What you can buy in Serbia right now
350 000 €
House in Nis, Serbia
70 sq.m321
Residence
5722(2). Large estate in the countryside. Purpose - cultivation with / hoz. products - an adjacent plot of 10 hectares. Own well - 35 meters, capacity of about 40 m3 per day. Asphalt road at the estate and through it. Nice garden (raspberries, pears, apples, plums, etc.) and well-groomed fields (currently corn and wheat). In the immediate...
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280 sq.m744
ResidenceRemote Transaction
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Real Estate & Building Company «ADRIATIC SEA EXPERT»
73 000 €
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52 sq.m211
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In an idyllic, wooded environment with a view of Tornik, a fully furnished lux apartment is for sale. To enjoy peace and quiet, just 2 km from the center of Zlatibor, in the Zova settlement, which has 120 apartments, in the immediate vicinity of the hotel that is being completed and which will provide health and relaxation facilities with a spa...
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57 sq.m211
ResidenceOnline Viewing
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VRC Idrisova
80 000 €
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64 sq.m211
ResidenceOnline Viewing
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Apartments from a developer in Serbia, in the city of Nis, are offered for sale.
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VRC Idrisova
145 000 €
Flat in Beograd, Serbia
48 sq.m211
ResidenceOnline ViewingCryptocurrency payment
A great opportunity to successfully invest money and get a residence permit of a European country!!!
An excellent multifunctional residential complex is being built in the capital of Serbia, in the Bezhetskaya Spit area. It will become an island of tranquility and a comfortable life for a large number of people!.
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VRC Idrisova
202 200 €
Flat in Beograd, Serbia
72 sq.m322
ResidenceOnline Viewing
A great opportunity to successfully invest money and get a residence permit of a European country!
In the capital of Serbia, in the Bezhetskaya Spit area, an excellent multifunctional residential complex is being built.
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92 sq.m432
ResidenceOnline Viewing
A great opportunity to successfully invest money and get a residence permit of a European country!
An excellent multifunctional residential complex is being built in the capital of Serbia, in the Bezhetskaya Spit area. It will become an island of tranquility and a comfortable life for a large number of people.
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235 000 €
House in Novi Sad, Serbia
222 sq.m732
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7183. New, 3-level house in the village of BEGICH, 15 km from the city of Novi Sad (Serbia).
House area 222m2. Plot – 760m2
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Apartment in Beograd, Serbia
69 sq.m322
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93 sq.m652
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The house is located in the immediate vicinity of the center of Grocka, easily accessible, on a flat plot of 10 ares. Registered at 93sqm as a weekend house, but it actually has 200sqm, ground floor, first floor and attic. 2 large terraces. The house is for rent, it has conditions for living in it, it has city water and sewerage, but it needs...
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75 000 €
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43 sq.m211
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43 sq.m322
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41 sq.m211
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The complex is located on a quiet street in the immediate vicinity of the trolleybus highway.
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285 000 €
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283 sq.m532
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Zuce is a beautiful village in the surroundings of Belgrade, 15 km from the city center and 3 km from the IKEA center and the Belgrade-Nis highway. House of 283 sqm with 4 terraces, on 10 ares of land, renovated, registered, garage, newer house from 2018. years. It is possible to buy an additional 10 ares and add them to the property, which...
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668 000 €
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138 sq.m433
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Landmark Residence is being built in a prestigious location in the center of Belgrade on 142 Kralja Aleksandra Boulevard, Vrachar municipality.
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The project...
A house for sale in the settlement of Banya near Arangelovac. The house area is 80 square meters.meters. The plot area is 11.8 acres. The lower floor is 50 sq.m., the second floor is 30 sq.m. On the ground floor there is a kitchen, a room, a bathroom with toilet and an exit to the terrace. There is a free layout on the second floor. House...
Private person
185 000 €
Flat in Beograd, Serbia
62 sq.m211
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A very nice, neat one-bedroom apartment for sale, easily adaptable to a two bedroom. Registered in the cadaster 1/1, ready to move in immediately! 57 sqm usable area + 5 sqm terrace. The apartment also has an attic space of 50m2 that can be used as a gallery. Third floor without elevator, only 10 apartments in the building. Excellent location -...
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Apartment in Beograd, Serbia
32 sq.m
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A landmark project for Belgrade is its new center of gravity, in the structure of which 5 hotels 5*, shopping centre, The building area is about 100 hectares its own promenade and promenade more than 2 km exceptionally located in close proximity to the historical center - just a few minutes walk from Republic Square and Slavia Square, just a...
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Flat in Zlatibor, Serbia
41 sq.m211
The complex under construction is located in Zlatibor, in the center, on a walking track, next to the gondola lift (5 meters away), and the adventure park is 50 meters away. The complex has a restaurant, garage on two levels, reception, spa, swimming pool, two saunas, solarium, gym.
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Outside of the capital in 2020, prices also grew. The maximum increase in apartment prices (13%) was observed in Shumadia and Western Serbia.
Shumadia is one of the parts of central Serbia. Its administrative center is Kragujevac, and one of the major cities of this district is Arangelovac. Belgrade is also located on its territory, but it is separated into a separate administrative region.
Another reason for the rapid rise in real estate prices is that there is no developed investment market in Serbia. In the absence of other financial instruments, people prefer to buy additional housing and rent it out.
The city centre of Belgrade
Foreigners are Active in the Market
Representatives of other countries make up a significant part of buyers of real estate in Serbia. One of the reasons for their interest is the ease of obtaining a residence permit. It can be requested when buying a home of any value, while you will need to confirm the availability of funds for living in the country.
Housing can also be bought on credit: Serbian banks work with foreigners, the package of documents will be the same as for local ones, but the percentage is higher. Also, digital nomads can move to the country. By the way, Belgrade is in the top places for remote work.
Buyers from abroad are mainly interested in objects in Belgrade, where 10-15% of buyers are foreign citizens.
According to Serbian law, the sale of real estate to foreigners is regulated by the principle of reciprocity. Citizens have the right to freely buy houses and apartments only in those states where Serbs can do it. These places include Russia and most of the other republics of the former USSR, but do not include China and the Arab states. Nevertheless, representatives of these countries apply for a purchase permit and are visible on the market.
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