Vracar Priciest for Business Space, 3,955 Euros a Meter
Republic Geodetic Authority: average commercial property price in Serbia up 12.86 percent, with Vracar now costing more than four times as much as Subotica.
The average price of commercial property in Serbia reached 1,420 euros per square meter in the first half of 2026, up 12.86 percent from a year earlier, according to a Republic Geodetic Authority (RGZ) report on the real estate market. The median price was lower, at 1,201 euros per square meter, which means a handful of expensive Belgrade locations are pulling the average above what most transactions actually pay.
The gap between municipalities is stark. Vracar comes out as the most expensive location for commercial space in the report: the average price there is 3,955 euros per square meter, the median 3,517 euros, and the year on year increase came to 33.49 percent. Stari Grad ranks second, with an average of 3,823 euros per square meter. New Belgrade follows, averaging 2,570 euros per square meter and posting annual growth of 29.05 percent.
Savski Venac recorded an average price of 2,501 euros per square meter. Vozdovac stands at 2,095 euros, up 30.28 percent, and Zemun at 2,010 euros per square meter. Cukarica has no published absolute price in the report, but its growth of 26.26 percent ranks among the highest in Belgrade.
At the other end of the list is Subotica, where a square meter of commercial space cost 937 euros, a slight decline of 0.19 percent, making it more than four times cheaper than Vracar. Prices also fell in the Nis municipality of Medijana, where the average dropped 9.52 percent to 1,150 euros per square meter, the sharpest decline in the report.
The steepest year on year price jump was recorded outside Belgrade. In Leskovac, the average price of commercial property rose 101.38 percent, to 1,799 euros per square meter, while Stara Pazova saw growth of 40.05 percent, reaching 1,442 euros per square meter.
Novi Sad, alongside New Belgrade, recorded the highest number of completed commercial property transactions in the country. The average price in Novi Sad was 1,642 euros per square meter, up 2.70 percent.
The total value of commercial property sales in Serbia in the first six months of 2026 reached 212.9 million euros, up 30 percent from a year earlier, with 6.4 percent more contracts signed. Belgrade accounts for 51 percent of that value, even though commercial space still makes up a smaller share of the overall real estate market.
Total real estate turnover in Serbia in the first half of the year came to 4.2 billion euros, up 10.1 percent from the same period in 2025, across 61,343 signed contracts. Serbian outlets earlier covered the same report’s findings on apartments, where turnover reached 2.5 billion euros and accounted for 61 percent of the total market value, with fewer apartments sold than a year earlier. Commercial space remains a smaller segment of the market, but it is growing faster than residential, and the gap between Belgrade’s municipalities and the rest of Serbia is not closing as a result.
