Real Estate in Serbia: Prices, Residence Permit, Opportunities

Real Estate Market in Serbia

The State of Serbian Property Market (prices)
Belgrade, Novi Sad, and everywhere else
Rental yields and Growth
Residence Permit by Property Purchase
Best Websites to Find Property in Serbia
Financing and Mortgages
Verdict

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The State of Serbian Property Market

01:54 Prices (Belgrade, Novi Sad, and everywhere else)

-In Serbia there are basically 3 important property price differences:
-Prices in Belgrade, in Novi Sad, and in the rest of the country.
-Prices in Belgrade are by far the highest in the country. City center (3K USD per sq meter) other areas average (1.8K per square meter).
-Novi Sad, second largest city, second most expensive property market. Prices usually range from 1.5k to 2.3k USD per sq meter.
-All other cities tend to be much cheaper (Nis, Kragujevac, Leskovac), and you can find a number of offers in the 1K USD range.
-If you want to buy a countryside house, prices can easily go much lower than that. You can easily find offers for 500 USD per square meter of built area, plus the plot.

03:52 Rental yield and Growth

-Rental yields in Serbia are not particularly attractive.
-Even in Belgrade, the city with the highest demand, they will be at around 3% to 4% per year at best.
-In Novi Sad you can also expect similar yields.
-In other cities in the country demand is a problem, so if you are looking to do a buy-to-let investment, I would avoid them.
-Liquidity is also a problem if you want to buy a property to live in yourself. Check the situation well to avoid being unable to sell it in the future.

04:49 Residence Permit by Property Purchase

-One of the best things about the Serbian property market is that, by owning residential real estate in the country, you are able to apply for a residence permit and live in Serbia.
-You don’t need to open a company, or get a job, or marry a Serbian person.
-Owning real estate in the country is enough grounds to apply for a residence permit.
-There is no minimum amount to be invested in order to qualify. If you buy a 20 thousand dollars flat, that will be enough for you to apply for a residence permit.
-Serbia is a stable economy, with a favorable location in Central and Eastern Europe.
-If you move to Serbia you will also have advantages in some types of taxes such as capital gains taxes, which are lower in Serbia than most other European countries.
-Cost of living is also quite low.

06:25 Best Websites to Find Property in Serbia

-Halooglasi
-Nekretnine.rs

10:12 Financing and Mortgages

-Another advantage of investing in real estate in Serbia is mortgages and financing.
-In most countries in the region, you need to be a resident and have income in the country to qualify for a mortgage.
-There is also the other problem which is, if you live in a different country. It is hard to get a mortgage to buy real estate abroad.
-In Serbia there is at least one bank that allows non-resident foreigners to get a mortgage. Interest rates are slightly higher, but they are not exorbitant.
-You will still show a proof of income from your country of residence to qualify.

11:41 Verdict
-Serbia offers interesting opportunities in the real estate market, despite the timid overall market growth.
-It is a great destination if you want to buy a country side house and retire, as prices are really low and overall infrastructure is decent.
-The residence opportunity is excellent, although other countries in the region also offer similar possibilities with very similar requirements (Bosnia, North Macedonia, Montenegro).
-The possibility of financing a property even if you don’t live in Serbia is unique in the region.
-As an investment, rental yields are low, but prices in Belgrade, especially in more central areas, are expected to continue high.

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