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 property prices have grown

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

+72%

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

+8.1%

Annual growth in Serbia (2023 — 2024)

€1.675/m²

Serbia average (Q1 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 1.468 sale listings — prices are adjusted to market growth

Most popular apartment sizes

Studio (<35m²)

7.1%

1 bedroom (35-50m²)

16.1%

2 bedrooms (50-65m²)

17.2%

3 bedrooms (65-80m²)

13%

4 bedrooms (80-100m²)

10.7%

Large (100m²+)

36%

What price range are most properties in

up to €50.000

19.8%

€50.000 — €100.000

28.8%

€100.000 — €150.000

18%

€150.000 — €200.000

€200.000 — €300.000

6.6%

€300.000+

18.8%

Most expensive neighborhoods — Beograd

Source: RGZ Price Register

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

Source: RGZ Price Register

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

Source: RGZ Price Register

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

€1.665/m²

1970 — 1989

€1.412/m²

1990 — 2004

€1.157/m²

2005 — 2014

€1.765/m²

2015+

€2.028/m²

Price by number of rooms

1 room

€1.876/m²

€58.884
~32m² · 103 listings

2 rooms

€1.745/m²

€85.068
~51m² · 389 listings

3 rooms

€1.574/m²

€121.841
~80m² · 359 listings

4 rooms

€1.483/m²

€161.104
~115m² · 208 listings

5 rooms

€1.242/m²

€206.617
~180m² · 91 listings

6 rooms

€985/m²

€214.502
~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 1.312 listings

Apartment

Average price per m² €1.895

Average price €115.888

Average area 60m²

Number of listings 838

House

Average price per m² €977

Average price €181.651

Average area 179m²

Number of listings 474

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

113

Avg

123

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

103 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

14,7

years of average salary

Average net salary: €1.050/mes
Apartment price (60m²): €185.760
Price per m²: €3.096