The new Law on Housing Loans for Young People aims to make it easier for younger citizens of Serbia to purchase their first property. Key benefits of the law include:
- Subsidized interest on housing loans
- Maximum loan amount of up to 100,000 euros
- Minimum participation of 1% of the real estate value
- Repayment period of up to 40 years, or until the applicant turns 70
Basic eligibility conditions:
- Age: Applicants must be between 20 and 35 years old at the time of application.
- Citizenship: Must be citizens of Serbia.
- Residence: Must reside in Serbia.
While the law provides favorable conditions, the real estate market presents specific challenges based on location and property type.
Apartments up to 100,000 euros in Belgrade:
For a budget of 100,000 euros, young buyers can find apartments of up to 50 square meters in neighborhoods like:
- Mirijevo
- Resnik
- Karaburma
- Borča
- Mladenovac
However, those seeking better locations will need to consider smaller apartments, with larger ones available in more peripheral areas. Proximity to public transport and city centers is crucial for long-term value.
Price per square meter in Belgrade:
The average prices per square meter by municipality are:
- Zemun – €2,385/m²
- New Belgrade – €3,183/m²
- Zvezdara – €2,600/m²
- Old Town – €4,105/m²
Prices in other Serbian cities:
- Novi Sad – €2,467/m² (with prices ranging from €830 to €3,523)
- Niš – €1,648/m²
- Kragujevac – €1,455/m²
- Subotica – €1,306/m²
In Kragujevac, a 50-square-meter apartment can be purchased for around 73,000 euros.
Important considerations:
In addition to the apartment price, buyers should factor in administrative fees, taxes, and renovation costs for older properties. The real estate market may see price increases in the second half of the year, so it is an ideal time for young buyers to explore options.
