Renovating a property is a major step that can be financially, time-wise, and mentally demanding. Today, we focus on complete renovation, assuming you want to fully transform your living space. Learn about the stages of a full apartment renovation and the current costs of such work in Serbia to plan your expenses efficiently.
Apartment renovation costs
The cost of apartment renovation is determined based on the scope of work, apartment size, chosen materials, and project specifics. If a client opts for a "turnkey" option, where the entire renovation is handed over to a single company, the average price is around €500 per square meter. If luxurious materials are used, this figure can vary from €2,000 and up. Larger spaces usually have a lower cost per square meter, while smaller units have a higher one, which is considered when forming the total cost. Due to potential unforeseen expenses, it's recommended to prepare 10% more than expected.
Renovation stages and work costs
To illustrate what a complete apartment renovation entails and how much money you might need to invest, we’ll use an average-sized apartment as an example. Due to the significant price differences in the market, depending on the handymen services, location in Serbia, and materials used, the prices listed will be approximate.
Construction work - Demolition and preparation
Removing old carpentry, ceramics, and sanitary fixtures is the first step if you’re planning a full transformation of the space. Debris removal is usually included in the price. For a 50 m² apartment, the average price for construction work starts at around €650.
Painting and plastering
Painting includes wall smoothing, painting, and varnishing. If you delegate this step to a professional team, the cost will be around €1,300 for a 50-square-meter apartment. If there’s a need to form new walls, drop ceilings, etc., these renovations could cost around €1,500, including materials and labor.
Replacement of old electrical installations
To truly renovate and refresh the space, it's necessary to replace outdated cables, switches, sockets, and distribution boards. For a 50-square-meter apartment, this cost is around €1,000. For radiator replacement or installation, expect an average cost of around €750.
Plumbing replacement
As part of renovating the bathroom and kitchen, a complete replacement of plumbing pipes costs around €1,200, depending on room size and scope of work.
Installation of new joinery, doors and flooring
Replacing old windows and doors with new built-in elements may cost around €3,800, depending on product choice. Installing security entrance doors (without the actual doors) costs between €45 and €80, though it's hard to pinpoint an exact price due to the wide range of products available. Replacing old interior doors with new ones, including installation and doors, costs an average of €1,400 for four doorways.
When exploring flooring services on the Serbian market, you’ll find that they’re more affordable outside the capital, and it’s possible to arrange services from any location. For parquet, standard installation is more demanding due to individual slat gluing and costs more than multilayered flooring, which is easier to install and thus more affordable.
Tiling and sanitary fixtures
Generally, tilers charge €15 per square meter, excluding material costs. Tiles start at €7 per square meter. The cost of quality tiles for the bathroom and kitchen, along with sanitary fixtures such as toilets, sinks, and faucets, starts at €2,000, depending on the products chosen.
How much does it cost to fully renovate a 50 m² apartment?
Summing up all the services mentioned, we can estimate total costs at €20,000 - €27,000 when using average materials. As mentioned, using so-called "premium" materials can be significantly more expensive, like exclusive types of marble, etc.
We hope you enter the renovation process well-prepared and that you’ll soon see a new version of your home just like you imagined it. City Expert is here for you at every step regarding real estate, whether it’s buying, selling, leasing, or providing advisory consultations. If property renovation is a relevant topic for you, check out our interior design style suggestions to make your home feel like an entirely new place.
FAQ
How much do tradesmen charge in Serbia?
In recent years, renovation costs have increased significantly due to inflation and a shortage of workers. Given the large variations in price and quality among service providers, we recommend carefully comparing multiple offers. It’s best to hire tradesmen whose work you know or who come recommended.
How long does it take to renovate an apartment?
The duration of apartment renovation depends on the scope of work and space size. If you hire one team for all the work and sign a contract with them, the typical completion time is between 6 and 8 weeks for an average 50-square-meter apartment. The timeframe and cost are clearly defined before work begins.
Turnkey solutions: Yes or No?
"Turnkey" renovations are increasingly sought after because they involve delegating all work to a single team, requiring minimal involvement from the property owner. Considering that work prices have risen and the shortage of tradesmen results in long waits, hiring one company may be more cost-effective and quicker than coordinating with multiple services.
Is property renovation worth it?
Renovating an apartment for around €25,000 can be a cost-effective solution for a brand-new interior, compared to buying a new apartment. Selective renovation of key rooms, such as the bathroom and kitchen, makes the biggest difference at a lower cost. For property owners who rent out apartments, it’s worth noting that renovation can increase monthly rent by at least €100-200.
How much does house renovation cost?
The cost of fully renovating a house ranges from €700 to €1,000 per square meter, due to additional factors such as exterior facades, roofs, and yard areas, making it more expensive than apartment renovation.
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