Belgrade's residential market recorded a transaction volume of €577.6 million in the third quarter of 2025, representing a 10% increase compared to €525.9 million in the same period of 2024, real estate agency Cordon reports.
The market showed a shift in payment methods, with 57% of transactions paid in cash and 43% financed through bank loans. This represents a significant increase in credit buyers compared to the same period last year, reflecting the impact of lower interest rates on buyer behaviour.
The market continues to move through a phase of recovery, though not all segments are recovering at the same speed. There are more new projects than two years ago, which shows increased investor confidence. The higher price range segment, which the report focuses on, was not significantly affected by the new legalisation law.
Transactions in the partially regulated market (incomplete documentation) continued to decline, amounting to around €135 million for the quarter. This figure includes houses, garages, business premises, and land. Part of this amount refers only to delays in issuing use permits for buildings at the time of transaction. The new legalisation law should improve this statistic in the near term.
The report notes that data regarding specific projects should be interpreted carefully, as the registry does not record pre-contracts but only final contracts signed before moving in. More investors are switching to pre-contracts, requiring additional caution when analysing this information.
