The cost and process of buying real estate in Serbia on the coast: is it cheaper than in Belgrade?

As in the previous two spring seasons, this has sparked great interest among our citizens in purchasing real estate by the sea. This trend is completely justified, considering that coastal properties are often cheaper than those in Belgrade. Our citizens are particularly interested in real estate in Greece and Turkey.

Greece

For example, an apartment with an area of 50 square meters in Halkidiki will cost less than a studio in our capital, which is 38,000 euros. On the other hand, Croatia and Montenegro are leaders in terms of prices. Real estate in these countries costs several hundred thousand euros, and sometimes even over a million, in the case of a good location. In Montenegro, property prices increased by 40 percent last year compared to the previous year. Among the most popular, but also the most expensive places in this country are, of course, Budva and Tivat. When it comes to Budva, a studio can be found for 50,000 euros, while prices for one-bedroom apartments can reach 64,000 euros, and for a slightly larger two-bedroom apartment around 90,000 euros. As for luxury apartments in this city, the supply is very extensive, and the prices are serious. An apartment of 68 square meters in the center of Budva costs a whopping 240,000 euros. A studio of 23 square meters can cost 56,000 euros. And when it comes to larger and more luxurious apartments, their prices can even reach 300,000 euros. A two-bedroom apartment in Budva costs exactly 199,000 euros. Regarding Kotor, as stated in the listing, the price of a 63 square meter apartment is 170,000 euros, located in Dobrota. Additionally, one of the three-bedroom apartments with an area of 116 square meters is for sale at a price of 400,000 euros, plus a garage of 16 square meters. The apartment has 2 bathrooms and 2 terraces. Herceg Novi has slightly lower real estate prices compared to the previous two cities. Currently, small apartments, such as studios and one-bedroom units, are less popular. Thus, the price of a one-bedroom apartment of 40 square meters is 46,500 euros. A two-bedroom apartment in Igalo with an area of 65 square meters can cost 93,000 euros. A one-bedroom apartment in Bijela with an area of 42 square meters can cost 98,000 euros.

Turkey

Turkey is also among the countries where real estate prices are much more affordable compared to our region. A one-bedroom apartment in Alanya with an area of 50 square meters can be purchased for 215,000 euros, according to one agency, but this refers to a penthouse. A furnished one-bedroom apartment in Alanya with a sea view, measuring 60 square meters, can be found for 137,000 euros. In the Güllük area, a two-story apartment is offered for 188,000 euros. Most often, apartments are available, so a spacious apartment outside of Antalya is priced from 150,000 euros. In Alanya, prices for such properties are very accessible, and you can find a decent apartment of 62 m² for 60,000 euros, or even for 40,000 euros, as stated in one of the listings.

How to buyreal estate in Turkey? According to the law from 2012, citizens from more than 120 countries are allowed to purchase real estate in Turkey, and only a passport is required for this. As for additional expenses, these include costs for appraisal, preparation of the title deed, permission to use the apartment, annual tax, connection fees for water and electricity, as well as maintenance costs. The annual tax is about 0.3 percent of the total assessed value of the apartment. Regarding monthly building maintenance, it depends on the "amenities in the complex." They can range from 50 to 60 euros at most.

Croatia

The Croatian coast has been considered one of the most expensive places for real estate for many years. Some of the most popular and expensive locations are Pula, Dubrovnik, and Opatija. If you want to buy property in these areas, you will have to spend a significant amount of money. In Pula, the minimum amount you need to pay for real estate in this city ranges from 100,000 to 150,000 euros. For example, a 45-square-meter apartment in this city will cost 164,000 euros. A slightly larger apartment in the same location, measuring 55 square meters, will cost 220,000 euros. Villas range in price from 625,000 euros and up. Dubrovnik is one of the popular seaside resorts in Croatia. Upon investigation, we found that prices in this city are much higher than in Pula. For instance, a 48-square-meter apartment in this city will cost 210,000 euros. Meanwhile, one of the apartments for sale in the heart of the Old Town costs 515,000 euros and has an area of 60 square meters. Larger apartments, such as those on the Montenegrin coast, are very expensive, with a 75-square-meter apartment costing 299,000 euros. A 70-square-meter apartment in Opatija will cost a whopping 400,000 euros.

Albania

Real estate on the Albanian coast of the Mediterranean is known for its low prices, and its popularity has increased after the pandemic. A two-room apartment in Durrës with an area of 52 square meters can be found for 42,000 euros. A slightly larger one in the same location, with an area of 63 square meters, costs 44,000 euros. A studio in Golem with an area of 40 square meters will cost 35,000 euros. In one of the most popular tourist destinations, Saranda, a 78-square-meter apartment is offered for 110,900 euros, while a larger apartment of 140 square meters costs 168,000 euros. As everywhere, there are villas and houses by the sea available here for several hundred thousand euros.

Italy

In Trieste, one-bedroom and two-bedroom apartments are available for sale, with sizes up to 50 square meters. The view from the window in this Italian city usually overlooks the sea. As for the prices per square meter in Trieste, according to local real estate agencies, they range from 1250 euros to 3950 euros. The price per square meter in Trieste is primarily influenced by the property's amenities, whether it is a new building or a renovated old one, as well as its distance from the coast.