In the third quarter of 2024, real estate prices in Serbia showed significant variation, with the price per square meter of apartments in newer residential complexes ranging from as low as 1,093 euros in the Square Garden neighborhood of Novi Sad to as high as 11,811 euros in Belgrade’s exclusive Belgrade Waterfront district, according to data from the Republic Geodetic Institute (RGZ).
The most expensive apartment sold during this period was located in Belgrade Waterfront, with a price of 11,811 euros per square meter. The lower end of prices in this same district was much more affordable, with some apartments sold for around 3,500 euros per square meter—specifically, 3,498 euros. A total of 46 apartments were sold in this area during the quarter, and the average price per square meter in Belgrade Waterfront came to 5,179 euros, which was the highest average for new construction across all residential complexes in Serbia.
In contrast, Novi Sad’s Square Garden neighborhood saw a significantly higher number of sales, with 119 apartments sold during the same period. The price per square meter in this neighborhood ranged from 1,093 to 2,282 euros, with an average price just under 2,000 euros.
The Planet Residence complex in Niš recorded more sales than Belgrade Waterfront, with 94 apartments sold during the quarter. Prices in Planet Residence ranged from 1,209 to 2,212 euros per square meter.
In Belgrade’s Rakovica municipality, the Vrtovi Ceraka neighborhood saw 59 apartments sold, with prices ranging from 1,808 to 2,668 euros per square meter. Other neighborhoods such as The One in New Belgrade (with prices ranging from 2,736 to 4,920 euros per square meter) and Knežev Park in Novi Sad (prices ranging from 1,501 to 2,221 euros per square meter) saw 44 apartments sold each.
Meanwhile, in residential complexes where the maximum price per square meter did not exceed 2,000 euros, complexes in Kragujevac, such as Sokolis, and Tesla Palace and Zelena Oaza in the same city, offered more affordable housing options.
In major cities, loans were used to finance a significant portion of apartment sales, with 24.4% of apartments purchased with loans in the third quarter of 2024—an increase of eight percentage points compared to the same period in 2023. The highest share of loan-financed apartments was in Belgrade (31.4%), followed by Novi Sad (30.5%), Kragujevac (28.1%), and Niš (26%).
The most expensive apartment sold in the third quarter was located in Belgrade Waterfront, at a price of 1,356,888 euros for a 205-square-meter unit. The most expensive house was sold in the Savski Venac municipality of Belgrade for 4 million euros. The most expensive office space was traded for 9,793 euros per square meter in the Vračar municipality, and the highest contracted price for office space was 2.58 million euros in Novi Sad.
Additionally, the most expensive garage space was sold in Vračar for 62,000 euros, and the highest price for agricultural land was recorded in Surčin, at 39 euros per square meter, with the highest value agricultural land transaction totaling 8.15 million euros for plots in Sombor.