Serbia Property Sales Drop, Turnover Hits 2.5 Billion Euros
RGZ: real estate turnover in Serbia reached 4.2 billion euros in H1 2026, up 10.1 percent, though contracts rose just 0.2 percent. Apartments account for 61 percent of the market's value.
Serbia’s real estate market reached a value of 4.2 billion euros in the first half of 2026, up 10.1 percent from the same period in 2025. The number of sale contracts, meanwhile, barely moved: 61,343 contracts were signed, just 0.2 percent more than a year earlier. The figures come from the Republic Geodetic Authority (RGZ), which published its real estate market report for the first half of the year.
The gap between those two numbers, a nearly flat contract count against double digit value growth, points to a rise in the average price per transaction. That pattern shows up most clearly in apartments, the largest single piece of the market.
Apartments hold 61 percent of the value, on fewer contracts
Apartments remain by far the biggest category in the real estate market: of the 4.2 billion euros in total turnover, 2.5 billion euros, or 61 percent, came from apartment sales. The value of that turnover rose 11.4 percent year on year, even as the number of apartment sale contracts fell 1.9 percent. Fewer apartments changed hands, but those that sold went for more, on average, than a year earlier.
Houses accounted for 328 million euros, about 8 percent of the market, with value up 7.5 percent and the number of contracts down 2.2 percent. The same pattern, fewer transactions but higher value, repeats in agricultural land: turnover there was worth 125.6 million euros, with value up 18.8 percent and contracts down 14.1 percent.
Commercial space is the only major category where both value and contract numbers rose: turnover of 212.9 million euros was 30 percent higher than a year earlier, with 6.4 percent more contracts. Building land was worth 282.8 million euros, roughly 7 percent of the market. Garage spaces saw turnover value rise 16.8 percent, with 9.6 percent more contracts.
Belgrade holds half the apartment market, Vojvodina leads in land
Belgrade accounts for 55 percent of apartment sales value, 51 percent of commercial space and 68 percent of garage spaces. Vojvodina, on the other hand, dominates agricultural land sales with 69 percent of value and leads in house sales with 43 percent.
The highest number of sale contracts in the first half came from notaries in the territory of the Basic Court in Novi Sad, 5,543 in total. The largest sum in monetary terms was recorded, as expected, in Belgrade: in the territory of the First Basic Court, turnover value reached 841.3 million euros.
The most expensive single apartment sold in the first half of the year went for 2.6 million euros in Stari Grad, at 12,000 euros per square meter, the highest price recorded in this period. The most expensive house sold for 2.1 million euros in Savski Venac, and the most expensive garage space, 77,000 euros, also changed hands in Stari Grad.
Credit is financing a growing share of purchases
Mortgage financing appears in 14 percent of all real estate sale contracts, one percentage point higher than in the same period of 2025. For apartment purchases, that share is markedly higher: 33 percent of sale contracts were closed with a mortgage, up three percentage points year on year.
Taken together, fewer apartment contracts alongside a growing share of mortgage backed purchases point to a market where buyers are leaning more heavily on bank financing to cover rising prices, while the pool of buyers able to purchase an apartment without a loan, or with a smaller down payment, keeps shrinking.
