Buying Property in Serbia
Being a country in transition with property prices still waiting to sky rocket, Serbia is an attractive location for buying relatively cheap property as a form of investment. This is an introduction into the real estate market in Serbia.
Can Foreigners Buy Real Estate In Serbia?
The ability of a non-Serbian individual to purchase real estate in Serbia is limited only by the practice of reciprocity. If a Serbian citizen is able to own real estate in one's respective country, then that individual has an equal opportunity to do so in Serbia. In addition, those individuals unable to own land via reciprocity can circumvent this policy by incorporating themselves within Serbia, thus becoming a local legal entity and capable of owning property.
Unlike all other neighboring countries, where foreigners have restricted rights over the ownership of land, in Serbia foreign and local individuals, as well as legal entities are treated equally.
The following graph shows the average prices of real estate in major Serbian cities. Prices are euro/m2 (euro per square meter).
Prices in Belgrade are the highest in the country, with prices in the larger regional cities reaching 60% and those in the Montenegrin capital Podgorica reaching only 70% of the value of comparable properties in Belgrade. Prices for apartments in the new, larger apartment buildings on the main New Belgrade boulevards range from €1200 to €1700/m2, depending on the size of the apartment and the construction stage in which the transaction takes place. New apartments in downtown districts (city center and Vracar) and Savski Venac (Dedinje and Senjak) vary more, ranging from €1100 to €1800/m2, depending on the exact location of the complex, the quality of the interior finishes and other amenities.
What To Expect With Regard To Standards?
Those interested in exclusive properties are often impressed by the quality of construction and interior standards in Belgrade. If money is not an issue, even the most discriminating of tastes can be accommodated. Apartments come in a variety of sizes; however, it is more difficult to rent small size high quality apartments. Highest demand for sale is also noticed with apartments under 60 m2. Those experiencing the greatest difficulty are looking to rent or buy a small family house of 150 to 300 m2, since most homes constructed are much larger. Apartments come in a variety of sizes; however, it is more difficult to rent small size high quality apartments. Highest demand for sale is also noticed with apartments under 60 m2.
Finding an agent
Real estate agencies exist in large numbers. Search for "nekretnine" or "nekretnine Beograd" to find some of them with an online presence and check whether they support foreign investors