Property prices on the Serbian real estate market continue to increase, with the average price per square metre of a flat in Belgrade now around 350 euros higher than in the same period in 2024.
For a 40-square-metre flat, instead of 120,000 euros, buyers now need to set aside 134,000 euros, according to the portal 4zida.
This calculation best illustrates property price trends over the past two years and partly answers tenants’ recurring question of whether to buy a flat at such high prices or remain in rented accommodation while waiting for prices to fall.
According to data from 4zida.rs, the average advertised price of flats in Belgrade rose from 3,000 euros in the first quarter of 2024 to 3,150 euros in 2025, and has now reached 3,350 euros. Over two years, this represents an increase of around 11 per cent. Aleksandra Mihajlović from the 4zida portal says that, if we look at actual market data rather than forecasts, it is clear that those who waited for prices per square metre to fall have been disappointed.
“A potential buyer who waited for ‘prices to drop’ would today pay around 14,000 euros more for the same flat. If we add to that the rent for a one-bedroom flat in Belgrade, which currently averages around 386 euros per month, or about 4,600 euros per year, we reach the conclusion that waiting over a two-year period has cost the buyer close to 23,000 euros,” Mihajlović explained.
As she emphasised, those who waited for a more favourable moment did not save money, but in real terms lost both on the price of the flat and on housing costs.
There are currently around 9,500 active listings for flats for sale in Belgrade on the 4zida website, but only about 400 flats fall within the price range of up to 80,000 euros, around 880 up to 100,000 euros, and just over 1,500 up to 120,000 euros. Mihajlović points out that this means less than 10 per cent of the total supply is realistically accessible to buyers with lower and middle-range budgets. She notes that three distinct buyer profiles are clearly visible on the market today.
Three buyer profiles on the property market
One group consists of the so-called “permanent observers” – people who are in no rush, regularly follow listings and often ask when prices will fall. They have a certain amount of money available, or at least for a deposit, but postpone their decision in anticipation of a market correction.
The second profile comprises buyers who know exactly what they want and what their budget is.
Over the past year, they have taken advantage of concrete opportunities such as state subsidies and incentives for young people and did not wait for “ideal conditions”, but acted when a genuine opportunity to buy arose.
Buyers unable to reconcile wishes and means
These buyers most often seek larger floor space, a better location and newer construction, but have a budget that simply cannot match such expectations on the market. In such cases, postponement is not a matter of strategy, but of genuine limitation.
Veljko M. Mijušković from the Faculty of Economics in Belgrade points out that those who wait for prices to fall most often incur losses through rent paid, lost time value and inflation. Mijušković also notes that on an annual basis this loss often amounts to between 5 and 10 per cent of a flat’s value, depending on the level of rent, price growth and interest rates.
He underlines that the right time to buy is when the purchase meets a genuine housing need and when the loan instalment is sustainable in the long term relative to income.
“Loan offers are available, but the criteria are stricter than before, and interest rates remain relatively high. Due to rising property prices and living costs, some buyers are objectively unable to find a flat that matches both their wishes and their budget, and are therefore forced to choose between location, size and quality, or to remain on the rental market,” Mijušković explained.
Tenants face the perennial dilemma of whether, at current prices and conditions, it is better to take out a mortgage and incur debt or continue renting. Mijušković notes that if one plans to stay long-term in the same location, a mortgage is in most cases the more rational option, since the instalment builds equity, while rent is a permanent expense.
He adds that renting is financially more favourable only if the difference between rent and the mortgage instalment is small and if there is genuine flexibility to relocate or change life circumstances.
He points out that in certain situations it can nevertheless be worthwhile to live in rented accommodation, particularly when employment is unstable, when relocation or moving abroad is planned, or when purchasing would require excessive borrowing that would seriously burden the household budget and quality of life.
(Newsmax Balkans, 19.02.2026)
https://newsmaxbalkans.com/ekonomija/vesti/35381/kvadrat-stana-u-beogradu-poskupeo-na-350-evra/vest