Apartment Prices Continue to Rise in 2025

The first quarter of 2025 has been marked by a continued increase in real estate prices in Belgrade, with notable variations across different municipalities. A major boost to the market was the newly adopted Law on Subsidized Housing Loans for Young People, which sparked increased interest in real estate purchases—especially in Belgrade and Novi Sad.

According to data from 4zida.rs, the average listed price per square meter in Belgrade during the first quarter of 2025 was around €2,990, compared to €2,733 in the same period in 2024—representing a 9.4% increase.

On Savski Venac, the average listing price reached €4,369 per square meter, €4,260 on Stari Grad, and €4,103 on Vračar. Other Belgrade municipalities—such as Zvezdara, Voždovac, and Novi Beograd—also recorded growth compared to Q1 of the previous year. The highest price increase was noted in Palilula, where the average price jumped from €1,960 in early 2024 to €2,600 in Q1 2025.

In contrast, suburban areas like Mladenovac, Obrenovac, Lazarevac, and Sopot saw little to no movement. In some cases, prices even dropped slightly by 1–2%, according to 4zida.

Average Apartment Prices in Other Cities in Q1 2025

Apartment prices in other Serbian cities continue to vary widely depending on the city and micro-location. In Q1 2025:

• Novi Sad: €2,519 per m²

• Niš: €1,669 per m²

• Kragujevac: €1,521 per m²

• Subotica: €1,307 per m²

Among smaller cities:

• Valjevo leads with €1,817 per m²

• Smederevo follows with €1,282

• Kruševac at €1,246

• Zrenjanin at €1,160

• Vršac stands out with a more affordable €1,100

• Leskovac is at €1,060

• Vranje remains the lowest with €930 per m²

Real Estate Price Forecasts

According to Euronews, based on the latest available data:

• Average actual sale price for new construction in Belgrade: €2,648/m²

• In Niš: €1,700/m²

• In Novi Sad: €2,350/m²

Additionally, the average net salary in Serbia as of January 2025 is 107,500 RSD.

Real estate expert Nenad Đorđević from Klaster Nekretnina anticipates no major shifts in the market. He states:

“Prices will continue to rise modestly, and transaction volumes will also increase slightly. There won’t be a price boom like we saw in 2021 and 2022. But that wasn’t unique to Serbia—it happened across other countries too. There won’t be any significant drop in prices either.”