According to Serbian Economist, real estate prices in Serbia are market-driven and not “inflated,” said Ervin Pashanovich, a member of the board of the Association of Real Estate Agents of the Serbian Chamber of Commerce and Industry (Privredna komora Srbije).
According to him, the real estate market in the country remains “free” and without interference, and price levels are confirmed by demand. He noted that the average price per square meter of housing in Belgrade is about €2,400, with attention often focused on the most expensive projects, although there are different price levels on the market.
Pasanovic also pointed out that the majority of purchases are made by citizens seeking to resolve their housing issues, rather than investors, since, in his estimation, rental yields imply a long payback period: an apartment costing €100-150,000 can be rented for around €600 per month, which corresponds to a 24-30 year return on investment.
He added that the share of buyers purchasing housing with loans has reached a record 36%, and the share of foreigners among real estate buyers in Serbia is about 2%.
Pasanovic also commented on the application of the law on simplified accounting and registration of property rights, noting that the possible entry into the market of some previously unaccounted properties, in his opinion, will not lead to a noticeable decrease in prices, since a significant part of them are not located in central areas.
According to data from the Republic Geodetic Authority of Serbia (RGZ), in the third quarter of 2025, the average price of apartments on the secondary market in Belgrade was €2,691 per square meter, and in new buildings, €2,598 per square meter.
The RGZ reported that the total volume of the Serbian real estate market in the third quarter of 2025 was estimated at €1.8 billion with 30,511 sales contracts, and apartment transactions accounted for about 60% of the total market value (€1.1 billion).
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