City	Apartments	Buildings	Population	Avg. age
Beograd	398.972	27.682	1.681.405	42,7
Novi Sad	165.563	9.447	368.967	40,8
Niš	40.022	1.872	249.501	43,4
Kragujevac	25.440	1.137	171.186	43,5
Subotica	21.383	878	123.952	43,9
Čačak	19.683	656	105.612	44,5
Kraljevo	17.278	657	110.196	44,8
Pančevo	14.848	1.171	115.454	43,6
Valjevo	14.556	736	82.169	44,9
Jagodina	12.344	635	64.644	44,7
Zrenjanin	11.748	546	105.722	44,8
Loznica	9.973	471	72.062	44,1
Bor	8.892	809	40.845	44,8
Sremska Mitrovica	7.305	502	72.580	44,6
Smederevo	7.290	430	97.930	43,2
ČAJETINA	6.893	521	14.585	45,3
Sombor	6.573	480	70.818	46,0
Šabac	6.407	519	105.432	43,7

Source: RGZ cadastre; SORS — 2022 Census.

How many flats carry a mortgage

Share of flats with a mortgage recorded in the cadastre, by city and by Belgrade municipality. Only flats are counted (no shops or garages) and only encumbrances recorded on the flat itself, not on the plot or building. Data as of 28 Sep 2026.

900,955Flats (all cities in the database)

131,926With mortgage

14.6%Share

City	Apartments	With mortgage	Share
Beograd	391,561	55,954	14.3%
Novi Sad	141,492	22,309	15.8%
Niš	39,909	5,315	13.3%
Kragujevac	25,184	3,571	14.2%
Subotica	21,371	3,993	18.7%
Čačak	19,642	3,600	18.3%
Kraljevo	17,085	2,670	15.6%
Pančevo	14,826	2,550	17.2%
Valjevo	14,552	2,138	14.7%
Jagodina	12,342	1,622	13.1%
Zrenjanin	11,745	2,325	19.8%
Loznica	9,972	662	6.6%
Bor	8,884	2,869	32.3%
Sremska Mitrovica	7,300	1,359	18.6%
Smederevo	7,280	851	11.7%
Čajetina	6,880	706	10.3%
Sombor	6,572	1,188	18.1%
Šabac	6,285	954	15.2%
Leskovac	5,795	749	12.9%
Kruševac	5,532	617	11.2%
Užice	5,214	797	15.3%
Priboj	5,197	723	13.9%

Belgrade by municipality

Municipality	Apartments	With mortgage	Share
Novi Beograd	85,952	12,520	14.6%
Zvezdara	55,659	8,997	16.2%
Voždovac	46,727	7,758	16.6%
Palilula	37,311	4,986	13.4%
Zemun	33,344	6,554	19.7%
Čukarica	31,686	4,085	12.9%
Vračar	31,058	3,093	10.0%
Stari grad	27,913	2,707	9.7%
Rakovica	25,001	3,668	14.7%
Savski venac	16,910	1,586	9.4%

Download the table (CSV) Is a particular flat mortgaged: free mortgage check.

Source: RGZ cadastre; processed by Kaza.rs. Cities with at least 5,000 recorded flats. Free to reuse with attribution (kaza.rs).

How property prices have grown

Average price per m² from 2008 to present — Srbija (BIS property price index)

+80.3%

Price growth in Serbia since 2019. (Beograd, 2019–2025)

+8.1%

Annual growth in Serbia (2023 — 2024)

€1.675/m²

Serbia average (Q2 2026)

Real estate as an investment

What would your money be worth today if you'd put it into a Serbian apartment — versus gold, the S&P 500, and famous stocks?

Invested (€)

Year invested

Include rent

Logarithmic scale — the gap between the top stocks and the rest is enormous, so the axis is logarithmic.

This is historical data, not a forecast. The stocks shown are among the most famous companies and historical winners — past returns don't guarantee future ones. Not investment advice. Real-estate return is price growth (BIS/NBS index); optionally plus estimated net rent (~3.5%/year).

Sources: real estate — BIS / NBS (residential property price index); stocks and gold — Alpha Vantage (total return, dividend-adjusted); EUR/USD — ECB.

Logos are the property of their respective companies. Kaza.rs is not affiliated with or endorsed by them.

How much would your property be worth today?

Calculate your monthly payment, total interest, and the full cost of buying a property in Serbia.

City

Year of purchase

Purchase price (€)

What the data says

Analysis of 1.485 sale listings — prices are adjusted to market growth

Most popular apartment sizes

Studio (<35m²)

7.1%

1 bedroom (35-50m²)

15.9%

2 bedrooms (50-65m²)

17.3%

3 bedrooms (65-80m²)

12.9%

4 bedrooms (80-100m²)

10.7%

Large (100m²+)

36%

What price range are most properties in

up to €50.000

19.6%

€50.000 — €100.000

28.8%

€100.000 — €150.000

18%

€150.000 — €200.000

8.1%

€200.000 — €300.000

6.6%

€300.000+

18.9%

Most expensive neighborhoods — Beograd

Our estimate by neighbourhood — the RGZ does not publish prices per neighbourhood

1. Senjak €4.000/m²

2. Dedinje €3.800/m²

3. Stari grad €3.629/m²

4. Diplomatsko naselje €3.500/m²

5. Kosančićev venac €3.500/m²

6. Diplomatska kolonija €3.500/m²

7. Vračar €3.493/m²

8. Čubura €3.300/m²

9. Savski venac €3.268/m²

10. Dorćol €3.200/m²

11. Neimar €3.200/m²

12. Slavija €3.000/m²

13. Belvil €3.000/m²

14. Profesorska kolonija €3.000/m²

15. Novi Beograd €2.970/m²

Most expensive neighborhoods — Novi Sad

Our estimate by neighbourhood — the RGZ does not publish prices per neighbourhood

1. Stari Grad €2.850/m²

2. Liman 1 €2.750/m²

3. Liman 2 €2.700/m²

4. Liman 3 €2.650/m²

5. Grbavica €2.600/m²

6. Liman 4 €2.550/m²

7. Adamovićevo Naselje €2.400/m²

8. Rotkvarija €2.300/m²

9. Sajmište €2.200/m²

10. Banatić €2.100/m²

11. Novo naselje €2.100/m²

12. Podbara €2.100/m²

13. Detelinara €2.050/m²

14. Telep €2.000/m²

15. Bistrica (Novo Naselje) €2.000/m²

Most expensive neighborhoods — Niš

Our estimate by neighbourhood — the RGZ does not publish prices per neighbourhood

1. Centar €1.600/m²

2. Medijana €1.500/m²

3. Palilula €1.300/m²

4. Pantelej €1.200/m²

5. Crveni Krst €1.100/m²

Building age vs. price per m²

Before 1970

€1.673/m²

1970 — 1989

€1.423/m²

1990 — 2004

€1.177/m²

2005 — 2014

€1.779/m²

2015+

€2.057/m²

Price by number of rooms

1 room

€1.909/m²

€59.650
~32m² · 104 listings

2 rooms

€1.769/m²

€86.103
~51m² · 392 listings

3 rooms

€1.573/m²

€121.739
~79m² · 368 listings

4 rooms

€1.505/m²

€163.940
~115m² · 209 listings

5 rooms

€1.248/m²

€207.456
~183m² · 93 listings

6 rooms

€994/m²

€216.396
~202m² · 70 listings

How much do prices actually drop?

-9.4%

Average reduction

€7.703

Average reduction in euros

202

Listings with reduced price

Apartment vs. house

How apartment and house prices differ — based on 1.328 listings

Apartment

Average price per m² €1.919

Average price €117.265

Average area 60m²

Number of listings 845

House

Average price per m² €981

Average price €181.469

Average area 178m²

Number of listings 483

When is the best time to buy a property?

Seasonal trends and selling speed — analysis of sale listings on kaza.rs

When are most listings posted?

Jan

Feb

130

Mar

113

Apr

170

Maj

120

Jun

143

Jul

114

Avg

136

Sep

Okt

Nov

Dec

May & Jul have the most listings — competition is higher. Nov/Dec have the fewest — better choice for buyers.

How many days does a property wait for a buyer?

Pančevo

90 days

Kraljevo

93 days

Smederevo

96 days

Beograd

102 days

Novi Sad

105 days

Niš

111 days

Mladenovac

117 days

Zlatibor

121 days

Ruma

135 days

Vrnjačka Banja

141 days

Kragujevac

148 days

Fastest city
Pančevo

148

Slowest city
Kragujevac

171

Average number of days before first price reduction

How many average salaries for a 60m² apartment?

How many years of average net salary are needed to buy an apartment in each city

Beograd

15,5

years of average salary

Average net salary: €1.050/mes
Apartment price (60m²): €194.760
Price per m²: €3.246