According to Serbian Economist, Serbia’s real estate market continued to grow through the end of 2025: in the fourth quarter, the total volume of transactions reached €2.4 billion, marking the highest quarterly level since the Real Estate Price Register was established. This was reported by the Republic Geodetic Institute of Serbia (RGZ).
According to RGZ, in October–December 2025, the market value rose by 9% year-over-year, and the number of purchase and sale agreements increased by 6.9%, to 37,386. Apartments accounted for €1.4 billion, or 61% of the total value of all transactions.
Regionally, the number of transactions in the fourth quarter rose by 10.9% in Belgrade and by 5.8% in Kragujevac, while a decline of 6.5% was recorded in Niš and 8.7% in Novi Sad. A total of €768.5 million was spent on apartment purchases in Belgrade alone during this period.
The most expensive apartment of the quarter was sold in the municipality of Savski Venac for €1.4 million, with an area of 90 square meters, while the maximum price per square meter in the same municipality reached €15,298. The most expensive house was also sold in Savski Venac for €1 million, and a parking space for €60,000.
Earlier, RGZ reported that as early as the first quarter of 2025, the market showed a 9.3% increase in value alongside a 2.4% decline in the number of transactions, indicating further appreciation of assets. By the end of the year, this trend persisted, but the market simultaneously returned to growth in the number of transactions.
Vera Yegorova-Tolsta, owner of the real estate agency VIDOVSTAN, also noted the market’s growth in her review. Overall, RGZ data show that even with local fluctuations in individual cities, Serbia’s real estate market remained one of the most stable segments of the country’s economy through the end of 2025.
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