How to open a bank account and buy real estate in Serbia?

I made the decision to move quite unexpectedly. In March 2022, I gathered the necessary documents, such as my passport and driver's license, and headed to Serbia. I have Serbian friends living in this country who provided me with invaluable help at the beginning of my stay. Without their support, it would have been significantly harder for me to adapt to the new conditions.

Problems with opening a bank account

The first task was the question of opening a bank account as an individual at the local Turkish bank Halkbank. At that time, it turned out to be much easier than it is now. I was able to open an account in just a week. I was incredibly lucky, as shortly after that, the bank stopped opening accounts for Russian citizens. Interestingly, Raiffeisenbank also became stricter with their requirements: to open an account, it was now necessary to provide an employment contract with a local company.

Housing search

After resolving issues with the bank, I shifted my focus to finding a place to live. I decided to invest in real estate and didn't take out a mortgage since I had savings. In the end, I found a suitable apartment costing 55 thousand euros.

• The apartment is located on the outskirts of Belgrade, about 30 kilometers from the historic center.
• Notably, the apartment was sold fully furnished.

Rise in real estate prices

In the last nine months, housing prices in Belgrade have increased significantly – by about 20%. By the end of the year, I will be able to sell my apartment for 67,000 euros. As for the real estate market, there is a high demand for properties priced up to 200,000 euros, and listings are disappearing quite quickly. Naturally, the location and age of the building have a huge impact on the price.

• Recently, one of my acquaintances bought an apartment in an area with typical 1960s architecture for 180,000 euros.
• The location of this house near the city center makes the real estate market in this area quite active.

The "Belgrade Waterfront" project

A new project called "Belgrade Waterfront" is also being developed in Belgrade, which is still under construction. This is a specialized program that has received support from both the government and developers from the Emirates, aimed at stimulating economic growth in the city. The construction is taking place on a vast area on the right bank of the Sava River, which is considered a very prestigious location.

• Prices per square meter in this area start from 5,000 to 6,000 euros.
• The project continues to develop, and construction is not yet complete, which creates favorable conditions for future increases in housing prices.

So there is a high interest in this area, and it attracts many investors and buyers.

Ada-Ciganlija: A picturesque destination for relaxation

An important part of life in Belgrade is the popular area known as Ada Ciganlija. This attractive place, perfect for relaxation and entertainment, is located on the outskirts of the Serbian capital.

An island surrounded by two dams turns into a semi-peninsula, making it a true magnet for locals and tourists. This area is located just five kilometers northwest of the center of New Belgrade and is renowned for its natural beauty and developed infrastructure, making it particularly appealing for living. The expected cost per square meter of real estate here reaches around€2,500.

In the new apartments, all the latest amenities are available: from a smart home system to heated floors and high-quality finishes.

The price of housing and demand in the market

Housing prices in Serbia have noticeably increased over the past few years, driven by the growing demand for real estate. Locals traditionally view renting and buying property as a reliable way to preserve their capital.

The government support programs implemented during the pandemic also contributed to an increased interest in the real estate market. The influx of emigrants intoin 2022Additionally, it has increased interest in purchasing real estate, as acquiring property at any price level also provides the opportunity to obtain residency in the country.

Real estate market statistics

According to the data from the National Geodetic Administration of Serbia, halfway2022the total sales volume in the real estate market has increased by25%compared to the same period of the previous year. In the third quarter of 2022, the increase in residential real estate prices was13%in annual terms, while in 2019 and 2020 this figure was around8%.

Apartment prices

• The average price of secondary market apartments in the first half of 2022 was€1,260per square meter.
• In the primary market —€1,617per square meter.
• Expensive apartments in Serbia are located in Belgrade along the Sava River, where prices range from€2,615 to €9,545per square meter.

Utility costs

As for utilities, the total costs for them do not exceed€100monthly, including internet, television, and the video surveillance system. My house does not have central heating, so I had to install electric ceramic radiators for heating.

I receive three main bills: for electricity, water, and garbage collection. The water charge varies depending on the number of registered residents in the apartment.

Water expenses

Since I am registered alone, my water expenses amount to approximately€4per month with unlimited usage.

Garbage disposal

There is no garbage chute in my house, and the waste containers are outside. I pay for it.€3for garbage collection per month. The electricity bill is calculated based on meter readings, and the highest expenses occur during the winter period due to electric heating.

Total amount for electricity

In addition, I have a boiler for heating water and an electric stove. Last month, the total amount of the electricity bill was€65.

Conclusion

Thus, despite the rising prices of housing and utilities, life in this area offers many advantages and amenities for a comfortable existence.

Real estate in Serbia

Currently, the Serbian real estate market offers a variety of interesting properties, including both apartments and houses available for purchase. One of the attractive options is a luxurious villa in Belgrade, priced at €485,000.

This is a wonderful property with a total area of 330 square meters, featuring five bedrooms and an equal number of bathrooms. The villa's convenient location, just 20 kilometers from the heart of Belgrade and in close proximity to the Danube River, makes it particularly desirable for potential buyers.

The tall fence surrounding the villa, combined with the greenery, creates a sense of privacy and tranquility, while the important E75 highway can be reached in just 20 minutes.

Other interesting objects

• Spacious apartment in Belgrade:The price is €180,000. The area of this property is 65 square meters, featuring four rooms, and it is located in a picturesque area of New Belgrade.
• House in the village of Bagremovo:For sale for €10,000. This mixed-use building spans 72 square meters and is located in the northern part of the country. It includes one large room, several smaller ones, as well as a kitchen, dining area, and bathroom.
• Apartment in the center of Belgrade:For sale for €180,000, it has an area of 50 square meters and is located in the historic part of Skadarlija Street.
• Studio in New Belgrade by the water:For sale at €220,000, this 30 square meter apartment is located on the sixth floor and is fully furnished, including a terrace.
• Two-bedroom apartment:The area is 79 square meters, priced at €330,000. The fully furnished apartment includes its own terrace.
• New apartment in the Belgrade Waterfront area:The area is 60 square meters, and the price is €270,000. This property is located in a modern residential complex and includes a garden.

Conclusion

Thus, Serbia is an excellent destination for those looking to purchase real estate, offering a wide range of options—from luxurious villas to cozy apartments in the city center. Each of the available listings has its unique features and advantages, ensuring comfortable and high-quality living.

Real estate in Serbia: unique opportunities

Real estate in Serbia, and especially in its capital Belgrade, offers unique opportunities for investors and those looking to relocate. Let's take a look at some offers on the market.

Apartment in a prestigious neighborhood

For example, there is an apartment with an area of59 square meterswhich can be purchased for320,000 euros. It is located in the prestigious residential complex BW Magnolia in close proximity to the historical center and the project “Belgrade on the Water”. This place is characterized by a high degree of privacy and an abundance of natural light.

Modern apartment on Dorchol

The next option is36-meter apartmentthat's up for sale for206,000 eurosIt is located on the sixth floor of a modern building in the Dorcol area. This apartment is equipped with central heating and air conditioning systems, and it also includes all necessary household appliances, which are included in the cost of the housing.

An apartment with a high level of comfort

I'm also interested in the apartment in Vračar, which is being sold for159,000 eurosIts area is35 square metersincluding the terrace, and the distance to the Temple of Saint Sava is minimal. The updated interior and finishes provide a high level of comfort and convenience.

Investment apartment

The other object has an area54 squaresand is valued at270,000 eurosThis apartment is also available for purchase through remote transactions and offers the possibility of obtaining a residence permit upon purchase. The growth of investments in Belgrade's construction sector is driven by the upcoming EXPO-2027, which promises significant changes for the entire region.

Two-story house in Kruševac

Another sentence - a house with an area of110 square metersfor57,000 eurosThis property is located on an eight-hundred square meter plot. It is move-in ready: the first floor features two rooms, while the second floor offers the opportunity for individual reconfiguration. A foreigner can also become the owner of this property, which allows them to obtain a residence permit for three years.

Apartment in Dorchol

A flat is being offered on Dorchol for163,800 eurosarea46 square meterscompletely renovated in 2018. With two bedrooms, it is located in a quiet area with well-developed social infrastructure: there are schools, kindergartens, and shops nearby.

Apartment in Miryevo

The apartment in Miryevo, which has an area, is no less interesting.54 square metersIt is located on a high first floor and offers comfort for living.

Apartments in Belgrade

In the capital of Serbia, Belgrade, various apartments are available on the platform etagi.com that may interest both locals and visitors to the city.

A two-bedroom apartment for 180,000 euros

One of the standout offers is an apartment with an area of 73 square meters, which is valued at180,000 eurosThis comfortable two-room apartment is located in a quiet area and includes:

• a hallway with a built-in wardrobe;
• bedroom;
• bathroom;
• dressing room;
• an open kitchen with a dining area and a relaxation zone.

Due to the registration of 60 m² of living space and 73 m² of total area, including the terrace, the housing offers additional amenities. There is parking on the premises, and a well-developed transport network provides easy access to various parts of the city.

Three-room apartment in BW Quartet

Another attractive offer on etagi.com is an apartment with an area of80 square meters, the price of which is360,000 eurosThis three-room apartment with two bedrooms and a bathroom is located in the modern and prestigious residential complex BW Quartet, which has recently been completed and is ready for occupancy.

This property is conveniently located in the central part of the "Belgrade Waterfront" area, making it an ideal choice for those who value comfort and luxury. The complex offers 24-hour security, maintaining a high level of safety for its residents.

Cozy apartment for 149,000 euros

You can also find an apartment for rent on the website etagi.com.149,000 euros, the area of which is33 square metersThis cozy two-room apartment is located in a quiet area on Gostiev Street. It is situated on the fourth floor of the building and is perfect for those who need modern and comfortable accommodation.

The apartment features a well-thought-out design, and it includes:

• cozy living room
• a bedroom, which makes it suitable for a couple or a small family;
• a neighboring kitchen that creates a warm atmosphere for cooking.

A 60 m² apartment for 270,000 euros

An interesting offer is also presented: an apartment with an area of60 square metersat the price270,000 eurosThis attractive two-room apartment is located in the new and prestigious BW Quartet building, which is already ready for occupancy.

The conditions of this modern housing in the center of "Belgrade Waterfront" ensure comfortable living. The complex's round-the-clock security guarantees the safety of its residents. The unique and spacious inner courtyard creates ideal conditions for spending time outdoors.

2.5-room apartment for 133,000 euros

There is also a 2.5-room apartment available for sale.133,000 euroscompletely renovated and ready for immediate occupancy. Thanks to its dual orientation, this property is beautifully lit throughout the day.

The well-thought-out corridor plan connects all the rooms, making the apartment highly functional. It is being sold with brand new furniture, allowing the new owner to immediately enjoy comfort and modern style.

Prices for food and living in Serbia

In addition, the portal etagi.com provides information about product prices and the range available in stores. The standard grocery set in Serbia is quite affordable, and the quality of local products, especially fruits and vegetables, is significantly higher than that of neighboring countries.

For example, you can buy "Bull's Heart" tomatoes for1.2 eurosper kilogram. For one person's weekly food expenses, it will require at least20 to 30 eurosThe average cost of a lunch in a restaurant is9-10 euros...and street food, like gyros, can be bought for just5 eurosfor a decent portion.

Shopping and salaries

It's interesting that in many local shopping centers, prices for goods are lower than in neighboring countries, although the selection of household appliances may be limited. As a result, residents sometimes prefer to shop in Slovenia or Croatia.

The average salary in Serbia is about600 eurosHowever, specialists in fields such as IT can earn significantly more. Thus, affordable real estate and a stable job market make Belgrade an attractive place to live and work.

Employment of foreigners in Serbia

To get a job in a Serbian company, a foreign citizen must obtain a special work permit. First, the local employer must post a job advertisement and offer it to Serbian citizens. If a suitable candidate cannot be found among them, the employer is entitled to consider the application of a foreigner. It is important that the qualifications of the foreign specialist are higher than those of the local candidate.

Therefore, it is essential to first find a suitable job vacancy and sign an employment contract. Only after that can one begin preparing the documents for obtaining a temporary residence permit (TRP). It is important to note that even if you already have a TRP, you will still need a work permit. Usually, the process of obtaining a work permit takes about a month. In my case, when I worked as a sole proprietor, the process through a lawyer took only about five working days, which is quite fast.

How to obtain a temporary residence permit in Serbia

Let's move on to the process of obtaining a temporary residence permit in Serbia. The rules regarding its acquisition are regulated by the updated law on foreigners, adopted in 2018. According to this law, Serbian authorities can issue residence cards to foreigners for a variety of reasons. Such grounds may include:

• real estate purchase
• business management
• employment
• getting an education
• reunion with family
• marriage introduction
• participation in volunteer projects
• treatment and much more

Adaptation in Serbia

For those who want to successfully adapt in Serbia, it is important to note that knowing English will significantly simplify the process of integrating into the local community. About80%Serbs have a high level of proficiency in English. English is taught in schools, and an interesting point is that in Serbian cinemas, films are not dubbed; they are shown only with subtitles. This allows even young children to watch cartoons and movies in English from an early age, which promotes natural language acquisition in everyday life.

The mentality of Serbs

Moreover, the mentality of Serbs has its own characteristics that differ from those of neighboring countries. In my opinion, Serbian culture and communication style are very similar to that of Russians. I've even noticed that there is a kind of...“the cult of the Russian person”There have been instances when I was stopped by inspectors for speeding, but they let me go easily because I am Russian. Moreover, the locals are known for their friendliness, which contrasts with the more reserved Hungarians.

Many Serbs studied Russian in school, so there is a lot in common between our languages, which makes everyday communication easier (especially in shops). It is also worth noting that our peoples share the same religion, and historically, Serbia has never had military conflicts with Russia.

Changes in life and moving

Undoubtedly, any changes in life, such as moving to another country, can cause stress and instability in feelings. However, in my observations, Belgrade resembles Moscow in the late 90s, which creates a certain comfort in the adaptation process and makes it easier to get used to the new environment.

Introduction

Finally, having decided to describe my experience of moving and living in Serbia, I came to the realization that this journey has become not just a physical relocation for me, but also a true inner transformation. Moving to a new country, despite all the challenges, opened up numerous opportunities and allowed me to see the world from a different perspective.

Opening a bank account

At first, I faced the necessity of opening a bank account, which turned out to be a real challenge. At a time when many financial institutions were forced to tighten their conditions for Russians, I was lucky to manage to open an account in...HalkbankI didn't spend more than a week on this. With each step in a new place, I became increasingly aware of how important the support of friends is, without whom the initial steps would have been much more difficult.

Housing search

Transitioning from financial matters to real estate, I realized that choosing a home has become one of the most significant stages of my move. The decision to buy an apartment rather than rent was justified by both practical considerations and a desire for stability. I was pleased to find a suitable option that met my expected criteria — and the rising property prices observed in Serbia only served as further confirmation of the correctness of my choice.

Current trends in the real estate market

It's interesting to note how high the demand for housing is, especially in Belgrade, where there is growing interest in new areas like "Belgrade Waterfront." This area is not only beautiful in its architecture but also carries hope for the future development of the city, making it extremely attractive for investments. It's important to understand that the demand for real estate in Serbia will remain high, and buying a home provides not only comfort but also potential benefits in the future.

Utility services and household expenses

However, aside from issues of ownership, I also encountered various aspects of everyday life, such as utilities. Despite the lack of central heating, I found an optimal solution with ceramic electric radiators. All these little things, from expenses to organizing daily life, began to shape my new understanding of living in a country that seemed unfamiliar to me.

Conclusion

In conclusion, moving to Serbia has become not just a change of location for me, but also a unique life experience. I understand that everything is just beginning in this new place: ahead lie new acquaintances, opportunities, and perhaps an even greater understanding of myself. It is important to remember that each such decision is not just a step into the unknown, but a chance for personal and financial growth, the opening of new horizons, and the creation of one’s own story. I hope that my experience will help others who are facing a similar choice to see the bright side of the adaptation process in a new country.