Serbia’s real estate market recorded its strongest first-quarter performance on record in 2026, with total transaction value reaching around €2bn, the Republic Geodetic Authority (RGZ) said on June 20.

The figure is the highest value for a first quarter since the Real Estate Price Register was established.

A total of 30,795 purchase contracts were concluded in the first three months of the year, with market value rising 14% year-on-year and the number of transactions increasing by 6%, RGZ data showed. Of the total turnover, €337.9mn related to the partially regulated segment of the market.

Apartments accounted for the largest share of activity, with €1.2bn spent on residential units, followed by houses at €152mn. Construction land transactions totalled €122mn, while business premises and agricultural land accounted for €92mn and €49mn respectively.

Activity remained concentrated in the country’s largest cities. The number of transactions in Belgrade rose by 10% compared with the same period last year, with €643mn spent on apartments in the capital alone. Novi Sad also saw continued growth, with transaction volumes up 6% year-on-year.

Prices at the top end of the market were led by the capital. The most expensive apartment sold in the first quarter was in Belgrade’s Savski Venac municipality, fetching €2.6mn and achieving the highest price per square metre recorded in Serbia.

The priciest house was also located in Savski Venac, selling for €2.1mn, while the most expensive garage space was sold in Belgrade’s Stari Grad municipality for €77,000.