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Housing prices in Belgrade: how they have changed in two years and where to look for affordable housing

Housing prices in Belgrade: how they have changed in two years and where to look for affordable housing

Housing prices in Belgrade: how they have changed in two years and where to look for affordable housing

In recent years, the market hasreal estateinBelgradeis experiencing significant growth. The outskirts of the city, which used to be famous for their affordability, are now becoming more and more expensive. The increase in housing prices in Belgrade has been especially noticeable in the last two years, when the cost of real estate in some neighborhoods increased by 20-50%. What is behind this change and where can you find affordable housing in Belgrade?

What has changed in the real estate marketBelgrade?

According to the data of the Republican Geodetic Institute (RGZ), housing prices in some districts of the city, such as Borca, Resnik and Zheleznik, have increased significantly. Moreover, this growth continues to gain momentum rapidly, which is due to the increasing interest in buying housesapartmentsin Belgrade, especially in the peripheral areas. On average, the increase in prices forreal estatein Belgrade amounted to about 7%, but in some places the increase is as high as 50%.

Reasons for rising real estate prices in Belgrade

  1. Increased demand for housing. More and more people are interested in buying an apartment inSerbiawhich leads to an increase in housing prices in Belgrade. Economic growth, increasing number of investors and improving quality of life attract buyers to Belgrade real estate market.

  2. Investments in infrastructure.Belgradeis actively developing its infrastructure, including the transportation network. This makes the suburbs more attractive for living and leads to an increase in the cost per square meter in Belgrade.

  3. Limited supply. The housing market is not keeping up with the growing demand. The recent rise in real estate prices was also caused by the fact that the number of available properties in Belgrade does not always meet the needs of buyers.

Which neighborhoods in Belgrade are showing the highest price increases?

Among the districts of Belgrade, where the highest price increases were recorded, stand out:

  • Chukaritsa: real estate price growth amounted to 42%. This is one of the most promising neighborhoods in Belgrade, which continues to attract buyers due to its good infrastructure and accessibility.

  • Rakovica (including Resnik, Miljakovac and Kneževac)Here prices have increased by 27%, which is also due to the improvement of infrastructure and development of new residential complexes.

  • Palilula (including Borca, Krnjača and Ovča): the price increase amounted to 26%. These neighborhoods have become more sought-after due to their convenient location and the rising standard of living in Belgrade.

Cost per square meter in Belgrade: how have prices changed?

The average cost per square meter in Belgrade is €2,844.

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However, depending on the neighborhood, prices can vary. Let's look at some specific data by neighborhood:

  • Borca: In the last two years, the price per square meter here has increased by €500, reaching €1,596.

  • Krnjača: In this area, a square meter now costs about €1,560, which is €200 more expensive than in 2023.

  • Kumodraj: The price per square meter in new buildings reached €2,000, an increase of €500 compared to previous years.

  • Ironworker: Apartments in the oldhousesin this area cost from €1,400 to €1,800, but you can find more expensive objects that cost more than €2,100 per square meter.

  • Surchin: In new buildings, the price per square meter is about €2,430.

  • BatajnicaThe cost of housing in this area is approximately €1,640 per square meter.

  • Resnick: Here the price per square meter is around €1,250, making this area relatively affordable for buying an apartment in Belgrade.

  • Obrenovac: Apartments in older buildings cost an average of €1,530 per square meter.

  • Barajevo, Sopot and MladenovacIn these areas, new buildings cost more than €2,000 per square meter, while older buildings cost from €1,000 per square meter.Barajevoto €1,700 in Sopot.

Housing prices in Belgrade: how they have changed in two years and where to look for affordable housing

Wherebuyapartmentin Belgrade: affordable options

If youlooking formore favorable offers, it is worth paying attention to the following places:

  • Left bank of the Danube. Here you can still find apartments for around €1,000 per square meter, which makes this area attractive to those who aresearchesaffordable housing in Belgrade.

  • Apartments in old buildings. Older buildings are often cheaper than newer buildings, and in some areas you can find options with prices around €1,000 per square meter.

  • Special offers fromdevelopers. Many developers offer discounts or installments on apartments, which makes buying real estate in Serbia more affordable for a wide range of buyers.

Real estate investments in Serbia: growing interest

Every year more and more investors are interested in real estate in Serbia, especially in Belgrade. Rising real estate prices, improved infrastructure and high demand make buying a home in Belgrade an attractive long-term investment. Investing in real estate in Serbia provides a stable income and is one of the best ways to invest.

Promising areas of Belgrade for buying a home

Some areas of Belgrade are now becoming particularly attractive for buying real estate. These include Čukarica, Rakovica and Palilula, which are actively developing and offer favorable conditions for buyers.

If you want to find the cheapest apartments in Serbia, look at the more remote areas of the city and the older neighborhoods of the cityhouseswhere the cost per square meter can be much lower.

How much does it costapartmentin Serbia?

The average cost of an apartment in Serbia depends on many factors, including location, condition of the housing and infrastructure of the neighborhood. In Belgrade, real estate prices are on the rise, and today it is already difficult to find affordable housing in popular areas of the city. However, in outlying areas, such as the Left Bank of the Danube, apartments can be found for around €1,000 per square meter, which makes buying property in Belgrade more affordable for buyers on a tight budget.

How to buy an apartment in Serbia: what you need to know?

The process of buying an apartment in Serbia is not difficult, but it is important to take into account all legal nuances. It is necessary to verify the legal status of the property, as well as to conclude a contract with adeveloperor the owner. It is important to note that buying an apartment in Serbia for foreigners is possible, but it requires fulfillment of certain conditions. In order to complete the transaction, you will need a document confirming your financial solvency and legal capacity.

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