In 2026, prices of new developments and older apartments in Serbia are often in a similar range, complicating the decision which one to buy—especially for foreign buyers who are unfamiliar with the local market.
Below is a practical guide to help you understand the key differences, prices, and long-term value of new construction (novogradnja) and resale properties (starogradnja) in Serbia.
What do “novogradnja” and “starogradnja” mean in Serbian?
New build (Novogradnja)
In professional and legal terms, a new build refers to apartments that are either under construction or newly completed and sold for the first time directly by the investor/developer. These properties are subject to specific contracts, construction timelines, and registration procedures in the Serbian Cadastre Registry. Mortgage conditions may also differ compared to resale properties.
Resale properties (Starogradnja)
This term refers to apartments that have been previously owned and occupied (secondary market). They may be decades old and come with an ownership history. In Serbia, older properties vary significantly in quality—from socialist-era buildings to highly valued pre-war “salon” apartments with high ceilings, large rooms, and solid construction.
Advantages of New Builds
1. Modern infrastructure and energy efficiency New developments comply with contemporary construction standards, offering improved insulation, new electrical and plumbing systems, and more efficient heating and cooling solutions. This typically results in lower utility costs.
2. Contemporary layouts Open-plan living areas, functional floor plans, modern materials, and smart-home features are common. Buyers can usually move in without major renovation expenses.
3. VAT refund for first-time buyers Serbian citizens who are first-time real estate buyers may qualify for a 10% VAT refund of the total price when purchasing directly from a developer.
4. Developer warranties Developers usually provide guarantees on installations and structural elements, reducing the risk of unexpected expenses in the first years.
5. Rental attractiveness and resale value New apartments are highly attractive for rentals. Units in modern complexes often achieve premium rental prices and tend to be easier to resell.
Disadvantages of New Builds
Higher price per square meter Although price gaps have narrowed in 2026, new builds are still slightly more expensive.
Additional costs Parking or garage spaces are often sold separately. The apartment also requires full furnishing.
Quality depends on the developer Construction quality varies. It is essential to review the developer’s previous projects and reputation.
Location limitations New developments are frequently built in expanding areas outside the city center. Prime central zones often have limited new buildings and higher prices.
Construction timelines If the building is still under construction, buyers may need to wait months or longer before moving in.
Advantages of Resale Apartments
1. Prime locations Many older apartments are situated in central districts and established neighborhoods where new construction is limited.
2. Larger layouts and solid construction Older buildings, especially pre-war or high-quality post-war constructions, are known for thick walls, durable materials, and spacious rooms.
3. Competitive pricing (in certain areas) In some municipalities, older apartments may offer more space for the same budget compared to new developments.
4. Renovation potential A well-planned renovation can significantly increase both comfort and market value.
Disadvantages of Older Properties
Renovation costs Older units may require replacement of plumbing, electrical systems, bathrooms, kitchens, and flooring. Renovation costs can range approximately from €300–800 per square meter, depending on scope and materials.
Lower energy efficiency Without upgraded insulation or modern windows, heating and cooling expenses may be higher.
Limited amenities Older buildings may lack elevators, garages, or dedicated parking spaces.
Legal due diligence required Foreign buyers should pay special attention to ownership records, potential encumbrances, inheritance issues, and legalization status. Professional legal support is strongly recommended.
Financial perspective: Which option is more profitable in 2026?
With prices between new and older properties becoming increasingly similar in major Serbian cities, the decision often comes down to priorities:
New build:
Slightly higher initial investment
Lower maintenance and utility costs
Possible VAT refund
Fewer immediate renovation expenses
Older property:
Potentially better location
Architectural character and larger layouts
Lower price per square meter in some areas
Renovation can increase value significantly
A simple rule of thumb: If the total cost of purchasing and renovating an older property remains below the price of a comparable new build in the same location, it may represent a strong investment. Otherwise, a new development—with warranties and lower maintenance risk—may be financially safer.
Before purchasing real estate in Serbia, make sure the property is legally registered. That means checking the owner’s status, reviewing all documentation, and understanding the tax obligations that apply to foreign buyers. Our agents will gladly help you with every step of the process.
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