EXIT is over: Is it time for long-term or short-term rentals in Novi Sad?

The largest music festival in the region, EXIT, has ended, and Novi Sad has traditionally hosted numerous domestic and foreign tourists. As one would expect, this event has caused an exceptional demand for accommodation during the last week and an increase in the prices of apartments for short-term rental. As tourists are leaving Novi Sad, the question is: what is more profitable - to rent an apartment for a longer period or  “per night” at the moment?

How much did accommodation in Novi Sad cost during EXIT?

The prices of real estate rented per night were significantly higher last week. A group of 4 people who decided to visit Novi Sad for all five days of the festival, had to pay around 1,000 euros on average. For two people the price per night was around 200 euros right before the weekend prior to EXIT. This price increase was due to high demand and limited supply in Novi Sad, with most advertised prices targeting foreign visitors through international platforms.

"This certainly does not mean that all properties held high prices during the festival, but demand was intense, resulting in more affordable and attractive options to be rented out earlier, leaving mostly extreme examples in the offer at the last minute," said from City Expert agency.

More moderate examples – accommodation prices of 500-600 euros for all 5 days, even in the Petrovaradin area, could be found through recommendations and domestic sites.

The most expensive advertised property in Novi Sad during EXIT: 3,200 euros!

Novi Sad also offered houses, which better suit group travel needs, with three or more bedrooms, but we found such an option for 3,200 euros for 5 days.

The reason for this is the rarity of larger properties, such as houses, for daily rental. The short-term rental market is dominated by studios and smaller apartments for one or two people. Therefore, it was challenging to find accommodation for groups without renting multiple properties. Accommodation capacities in Novi Sad were traditionally full during the EXIT festival, especially in the Petrovaradin area and the city center. 

What is more profitable for landlords after EXIT: long-term or short-term rental?

Landlords mostly oriented towards short-term rentals during the festival because, as they say, they earn as much money in those five days as they do in a whole month. Some landlords practice not allowing rental for just one day but only for the entire festival duration. The profitability of short-term rentals for apartment owners during this time of the year is evident from the fact that many have regular guests who stay in the same accommodation every year.

However, daily rental is not equally lucrative throughout the year.

A few days after the popular event, apartment rental prices in Novi Sad noticeably drop and return to the standard range: about 20-40 euros per night. The summer season is expected to be quiet and there is no large influx of tourists, who are primarily the target group for short-term rentals.

According to our agents, in summer in Novi Sad there is an increased risk that the property will remain unrented for most of the month, which threatens the owner's income.

Therefore, many landlords opt for long-term renting immediately after EXIT. This is understandable because short-term rental brings higher costs and responsibilities for apartment owners, such as: paying taxes, maintaining the space every few days, investing in the property, and increasing its attractiveness, as well as regular advertising on platforms.

If you need to rent an apartment for a longer period and secure a reliable tenant quickly, City Expert is the right choice for you. Thanks to professional web presentation and a website with millions of views monthly, every second property in Novi Sad, Niš, and Belgrade is rented through our agency.

On average, an advertised property on the City Expert website, which has a realistic price-quality ratio, is rented out in less than a day! Therefore, don't miss being part of a successful story and rent your apartment in the shortest time.