Semiannual Report on Apartment Price Trends

Apartment prices in Serbia for September have not significantly changed compared to August of this year. According to data from the agency 4zida, the average advertised apartment price in Belgrade in September was 2,640 EUR per square meter, showing an increase of around 40 EUR since the beginning of the year. In the capital, prices range from 1,575 EUR per square meter up to 3,920 EUR. The average apartment price per square meter in Novi Sad is 2,400 EUR, and in Niš, it is 1,580 EUR.

Although price fluctuations have been minimal, some cities have experienced a price drop compared to the beginning of the year, including Subotica, Zrenjanin, and Kragujevac. Prices in Belgrade’s Mirijevo neighborhood have risen from an average of 1,800 EUR (end of last year) to 2,000 EUR, as well as in certain parts of Miljakovac. However, advertised prices are traditionally higher than transaction prices.

Increase in Rental Prices

Rental prices in all major cities, including Belgrade, Novi Sad, Niš, and Kragujevac, have increased compared to the same period last year. In Belgrade and Novi Sad, the average rent for apartments has risen by about 7%, in Niš by 5%, and in Kragujevac by around 10%.

The average advertised rental price for a studio apartment in Belgrade is around 300 EUR. A one-bedroom apartment averages 390 EUR, a one-and-a-half-bedroom apartment 470 EUR, and for larger apartments, prices range from 680 EUR up to over 1,500 EUR.

In Novi Sad, the average monthly rent for a studio is about 270 EUR, in Niš around 220 EUR, in Kragujevac 175 EUR, and in Subotica, the average is 170 EUR.

Prices of Newly Built Apartments, First Half of 2024

According to data from the Republic Geodetic Authority, the average price of newly built apartments in the Republic of Serbia in the first half of 2024 was 215,481 RSD, representing an increase of 0.8% compared to the first half of 2023. During the observed period, prices ranged from 61,013 RSD per m² in Bujanovac to 520,616 RSD in Belgrade’s municipality of Savski Venac.

In terms of municipalities, the highest prices for newly built apartments were recorded in Belgrade municipalities, although the average price in urban areas fell by 2.3% compared to the first half of 2023, amounting to 307,297 RSD per m². Alongside Belgrade, high prices were also noted in Novi Sad, Užice, Čajetina, Vrnjačka Banja, and the Niš municipalities of Medijana and Crveni Krst.

Source:

https://www.stat.gov.rs/sr-latn/vesti/statisticalrelease/?p=15292

https://n1info.rs/biznis/cene-stanova-beograd-novi-sad-septembar-2024/