Gross rental yields on apartments in the upscale municipalities of Belgrade are poor, with an average yield of 4.68 %, based on the Global Property Guide’s survey of high-end apartments located in Stari Grad, Novi Beograd, Savski Venac, Vracar, Vozdovac and Zvezdara.

Average rental yields in most parts of Belgrade range from 4.08 to 4.97 %.  The exception is Savski Venac, which has slightly higher rental yields, averaging 5.33%. Dedinje and Senjac, which are located in Savski Venac, are the most popular neighborhoods for expatriate families. Most international schools and embassies are here. These two districts are also near the city centre.

Apartment sales prices in Belgrade’s six upscale municipalities average EUR 2,838 per square metre. The highest average square metre price was recorded in Vracar, at EUR3,351, followed by Stari Grad, at EUR3,017, Novi Beograd, EUR 2,888, Savski Venac, EUR 2,595, and Zvezdara and Vozdovac at EUR 2,284.

Vracar and Stari Grad are popular with singles and couples. They also have the lowest number of newly constructed units, due to lack of available construction sites.

Danijela Ilić, President of the Serbian National Association of Appraisers, says that a 10% price drop in the prices of new apartments is likely. “Sale of apartments is considerably lower. Banks have increased the interest rates for residential loans and there are fewer potential buyers, those who can buy a flat”.