A common misconception is that buying real estate in Serbia automatically leads to citizenship. In reality, purchasing a property is only the first necessary step to begin a long legalization process. Owning real estate grants the right to obtain a temporary residence permit (TRP), but not a passport.
In Serbia, a notary is not just a formal witness but a key figure ensuring the legality of a real estate transaction. Since 2014, all purchase and sale agreements must be certified by a notary. The notary bears full legal and financial responsibility for the 'cleanness' of the documents they verify.
The process of buying real estate in Serbia begins with finding a suitable property. There are two main ways to do this: searching independently on specialized websites or contacting a real estate agency. Each has its own specifics.
The acquisition of resale property in Serbia is subject to a one-time absolute rights transfer tax (Porez na prenos apsolutnih prava). The rate of this tax is fixed at 2.5% of the property's value.
To ensure an objective comparison of real estate prices in Russia and Serbia, it's crucial to compare cities of similar status and size. We won't compare a metropolis to a village; instead, we'll analyze three pairs: the capitals, the second-largest cities, and major regional centers.
When searching for a private house in Serbia, you will encounter several key terms that define the type and legal status of the property. Understanding these differences is the first step to buying a house in Serbia that meets your goals.
The current situation in the Serbian housing market is largely determined by macroeconomic factors. The rise in inflation and Euribor rates has led to a significant increase in the cost of mortgage loans, with interest rates reaching 6-7%. This has directly impacted the purchasing power of the population using borrowed funds.
In recent years, Subotica has been experiencing a real construction boom. The main catalyst for growth was a strategic infrastructure project—the launch of a high-speed railway, which significantly improved the city's transport accessibility and increased its attractiveness for living and doing business.
In recent years, Serbia has been rapidly becoming the main 'Plan B' for many who are looking for a comfortable and safe country for life and business in Europe. This trend received a powerful boost from revolutionary amendments to the Law on Foreigners (Sl. glasnik RS, br. 62/2023), which came into force at the end of 2023.
The path for property owners to obtain permanent residence in Serbia takes three years. This process is based on obtaining a temporary residence permit, known in Serbian as 'privremeni boravak'. The grounds for its issuance is the ownership of residential property within the country.
Moving to Serbia, like to any other country, involves a number of mandatory expenses that must be considered when creating a budget. Understanding the cost structure allows you to allocate funds wisely and avoid financial difficulties at the initial stage. All expenses can be conditionally divided into three large groups: legalization, housing, and initial household needs.