City	Apartments	Buildings	Population	Avg. age
Beograd	388.882	25.937	1.681.405	42,7
Novi Sad	147.470	9.447	368.967	40,8
Niš	38.578	1.880	249.501	43,4
Kragujevac	23.572	1.137	171.186	43,5
Subotica	17.936	878	123.952	43,9
Pančevo	14.793	1.171	115.454	43,6
Čačak	12.362	656	105.612	44,5
Zrenjanin	10.401	546	105.722	44,8
Kraljevo	10.088	657	110.196	44,8
Valjevo	10.062	736	82.169	44,9
Jagodina	9.067	635	64.644	44,7
Bor	8.830	811	40.845	44,8
Loznica	7.342	471	72.062	44,1
Smederevo	7.085	430	97.930	43,2
Sremska Mitrovica	6.611	502	72.580	44,6
ČAJETINA	6.602	521	14.585	45,3
Sombor	6.480	480	70.818	46,0
Leskovac	5.580	444	123.950	44,4

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. Cadastre data collected from 1 Apr 2026 to 8 Nov 2026.

840,618Flats (all cities in the database)

125,354With mortgage

14.9%Share

City	Apartments	With mortgage	Share
Beograd	383,896	55,338	14.4%
Novi Sad	128,597	20,813	16.2%
Niš	38,471	5,237	13.6%
Kragujevac	23,328	3,548	15.2%
Subotica	17,915	3,349	18.7%
Pančevo	14,771	2,535	17.2%
Čačak	12,321	2,235	18.1%
Zrenjanin	10,398	2,084	20.0%
Valjevo	10,058	1,496	14.9%
Kraljevo	9,895	1,503	15.2%
Jagodina	9,065	1,197	13.2%
Bor	8,822	2,863	32.5%
Loznica	7,341	546	7.4%
Smederevo	7,075	822	11.6%
Sremska Mitrovica	6,606	1,232	18.6%
Čajetina	6,589	687	10.4%
Sombor	6,479	1,170	18.1%
Leskovac	5,579	679	12.2%
Kruševac	5,462	598	10.9%

Belgrade by municipality

Municipality	Apartments	With mortgage	Share
Novi Beograd	85,025	12,418	14.6%
Zvezdara	55,055	8,995	16.3%
Voždovac	43,805	7,475	17.1%
Palilula	35,464	4,814	13.6%
Zemun	33,436	6,562	19.6%
Vračar	31,354	3,141	10.0%
Čukarica	30,916	4,069	13.2%
Stari grad	27,235	2,557	9.4%
Rakovica	24,748	3,699	14.9%
Savski venac	16,858	1,608	9.5%

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 1.495 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)

17.2%

3 bedrooms (65-80m²)

12.8%

4 bedrooms (80-100m²)

10.7%

Large (100m²+)

36.3%

What price range are most properties in

up to €50.000

18.9%

€50.000–€100.000

28.7%

€100.000–€150.000

18.1%

€150.000–€200.000

8.6%

€200.000–€300.000

6.8%

€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

€1.685/m²

1970–1989

€1.433/m²

1990–2004

€1.186/m²

2005–2014

€1.796/m²

2015+

€2.074/m²

Price by number of rooms

1 room

€1.927/m²

€60.205
~32m² · 104 listings

2 rooms

€1.790/m²

€87.068
~51m² · 393 listings

3 rooms

€1.590/m²

€123.207
~80m² · 369 listings

4 rooms

€1.505/m²

€163.612
~115m² · 211 listings

5 rooms

€1.244/m²

€205.914
~181m² · 95 listings

6 rooms

€1.032/m²

€220.295
~202m² · 72 listings

How much do prices actually drop?

-9.4%

Average reduction

€7.698

Average reduction in euros

205

Listings with reduced price

Apartment vs. house

How apartment and house prices differ, based on 1.337 listings

Apartment

Average price per m² €1.936

Average price €118.461

Average area 61m²

Number of listings 850

House

Average price per m² €987

Average price €182.999

Average area 178m²

Number of listings 487

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

142

Jul

114

Avg

135

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

Obrenovac

120 days

Zlatibor

121 days

Leskovac

129 days

Ruma

135 days

Vrnjačka Banja

141 days

Kragujevac

146 days

Fastest city
Pančevo

146

Slowest city
Kragujevac

170

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/month
Apartment price (60m²): €194.760
Price per m²: €3.246