According to data from the Republic Geodetic Authority, apartment prices in Belgrade increased by 5.31% by April 2025 compared to the same period last year. However, real estate agents say prices actually jumped a year ago and have since remained stable, despite very low sales activity in recent months.
Despite high prices, some neighborhoods in Belgrade still have apartments priced between €2,000 and €2,500 per square meter.
The surge in property purchases, which contributed to rising prices, coincided with an influx of Russian buyers to Serbia. Prices steadily increased until last year, while the number of transactions declined.
Real estate agent Katarina Lazarević explains that current prices are unrealistic for most buyers given the unstable economic situation. Some apartments now cost up to half a million euros, which many cannot afford. Wealthy investors tend to put their money into properties abroad, such as Dubai, rather than taking risks locally.
The most expensive areas are Belgrade Waterfront, Vračar, and New Belgrade, where new developments sell for between €4,000 and €5,500 per square meter. Parking spaces also carry high prices, starting from €35,000. Prices for new construction show little sign of decreasing as developers are unwilling to lower them.
More affordable and better-selling apartments are found in neighborhoods like Medaković, Veljko Vlahović, Braća Jerković, and Višnjička banja, with prices around €2,000 to €2,500 per square meter, provided the properties have legal ownership registration.
According to listings, average prices on Vračar range from €3,500 to €4,000 per square meter, Old Town around €5,000 to €5,500, Voždovac between €2,800 and €3,800, and Savski venac around €3,300.
The Republic Geodetic Authority reports that in the first quarter of 2025, prices of older apartments rose by 5.17% year-on-year, while new constructions saw a higher increase of 5.55%. The number of apartment sales contracts increased by 7.2% to 11,293, with total transaction value rising 21.8% to €1.028 billion compared to the previous year.
