Belgrade Waterfront recorded the highest real estate prices in Serbia during the first half of 2025, with the country’s most expensive square meter sold for €9,805 and the highest price paid for an apartment exceeding €1.8 million, according to data from the Republic Geodetic Authority (RGZ). The most expensive apartment, valued at €1,833,506, is a newly built 537-square-meter unit also located in Belgrade Waterfront. The most expensive house sold in the same period was a property on Savski Venac, purchased for €3.8 million on a 1,722-square-meter plot.
The highest price per square meter for commercial property was recorded in Belgrade’s Zvezdara municipality at €5,648, while the largest total transaction for commercial space—€2,369,400 for 1,795 square meters—was made in Kragujevac. The most expensive garage space, priced at €66,000, was also sold on Savski Venac. The highest-priced agricultural land, at €34 per square meter, was located in the municipality of Irig. The most valuable agricultural land sale overall was recorded in Kula, where an 86.45-hectare plot sold for €1,246,451.
Serbia’s real estate market reached a total value of €3.8 billion in the first half of 2025, an 11.9% increase compared to the same period in 2024. The market remained stable with 60,964 sales contracts, up 0.5% year-on-year. Apartment prices continued their moderate upward trend, rising by 5.78% annually.
Apartments accounted for the majority of total market value, reaching €2.3 billion or 60% of all transactions. House purchases totaled €302.9 million (8%), construction land €274.2 million (7%), commercial space €162.9 million (4%), and agricultural land €105.5 million (3%). Belgrade dominated apartment transactions with a 53% share of total value and also led in the value of garage sales (68%), commercial property (44%), and construction land (52%).
In contrast, Vojvodina led in agricultural land transactions with a 70% share and also recorded the highest value of house (40%) and weekend-home sales (59%). The largest number of sales contracts—5,433—was submitted by notaries in the jurisdiction of the Basic Court in Novi Sad, while the highest total transaction value was processed in the jurisdiction of Belgrade’s First Basic Court at €724.5 million. The notary office of Dragina Divac (Second Basic Court, Belgrade) recorded both the highest number of contracts (970) and the highest value of processed transactions (€137.6 million).
During the first half of 2025, both apartments and commercial properties saw increases in the number of sales and total market value. Apartment transaction value rose by 23.4% with an 8.2% increase in contract numbers. Commercial properties saw a 6.1% increase in contracts and a 6.3% rise in market value. Garage spaces experienced a 15.1% drop in sales volume but still recorded a 14.7% increase in total value. House sales fell by 4.9%, although market value increased by 8.9%. Agricultural land transactions dropped by 10.8% with a 10.5% decline in total value year-on-year.
RGZ also reported a significant rise in mortgage-financed purchases. In the first half of 2025, loans were used in 13% of all real estate transactions, up five percentage points compared to last year. Loan financing was recorded in 30% of apartment purchases—an increase of nine percentage points from the previous year’s 21%.
