Novi Sad Real Estate: Buy an Apartment in Serbia's Second City

The figures come from current listings on RealEstateAbroad and are asking prices. Prices in Serbia are normally quoted in euros even though the local currency is the dinar.

Apartments account for 6,769 of the listings. There are 148 houses, 117 commercial units and 13 land plots.

Bedrooms: 1,289 two-bed, 820 three-bed, 806 one-bed, 358 four-bed, 109 with five or more and 95 studios. The median size of 50 m² shows how many are small flats, which suit young professionals and investors.

Novi Sad is the capital of the Vojvodina province, on the Danube, with the Petrovaradin Fortress above the river and a lively centre. It was European Capital of Culture in 2022. The University of Novi Sad has tens of thousands of students, and the city has a strong IT and outsourcing sector, which supports rental demand. Popular districts include the centre, Liman (with its parks), Detelinara, Grbavica and Telep, as well as the suburbs of Sremska Kamenica and Veternik.

A high-speed train links Novi Sad with Belgrade in around 35 to 40 minutes, so the city is within easy commuting range of the capital, whose airport is the main international gateway. Nikola Tesla Airport in Belgrade is about an hour away. Winters are cold and summers hot.

To compare with nearby markets, look at Belgrade, Sremska Kamenica, Veternik, Futog and Stara Pazova.

Foreigners can buy apartments and houses in Serbia, subject to reciprocity with their country; land rules are stricter. Agricultural land is restricted for foreigners.

• Cadastre. Check the property in the cadastre and make sure the building is legal. Unregistered buildings are a known problem.
• Contract. The contract must be notarised by a public notary.
• Taxes. The buyer typically pays a transfer tax of about 2.5% on resales; new builds carry VAT. Verify rates.
• Fees. Agent fees are commonly around 2%.

See our Serbia consultation guide, financing guide and the Serbia overview.

Running costs in Serbia are lower than in most of Europe: utilities, local taxes and building service fees are modest, though district heating bills can be higher in winter. Long-term rents are paid monthly, and landlords must register leases. Serbia's property tax is small. English is widely spoken among younger people in Novi Sad, and there are cafés, festivals and a lively riverfront. If you plan to relocate, check residence-permit rules separately because buying a flat does not by itself confer residency. Ask about heating type, since district heating, gas and electric systems differ in cost and reliability.

Student and IT worker demand supports rentals. Short-let possibilities exist near the fortress, and cheap flats can produce decent gross yields. Use the mortgage calculator to test finance.