Life in Serbia – Housing Costs and Expenses to Expect

Over the last year, immigrant numbers have multiplied in Serbia. Yet, not all newcomers foresee and realize the difficulties they may face in a foreign country. Living expenses in Serbia is also an unknown territory to them. 

Most immigrate with no definite plans hoping to learn important things about the country when they arrive which is hardly the right attitude. Only some foreign nationals demonstrate a conscious approach to immigration and learn everything they can about life in Serbia and future expenses therein in advance.

Reasons why Serbia has turned into a popular immigration destination

In 2023, reasons to choose Serbia as your immigration destination are numerous and quite obvious:

• In most cases, you may enter Serbia for 30 to 90 days without a visa
• Serbia comes with affordable and participant-friendly residence, employment, and study programs. You can marry a Serbian citizen or purchase real estate of any value, incorporate a company in Serbia, etc. to be eligible for residency in Serbia.
• Secure and stable banking sector, with an opportunity to set up a card account in Serbia to use your bank card in the jurisdiction you come from
• Low crime rate providing for a safe and trouble-free life in Serbia
• Affordable housing and food prices.

NB: amid the major global economic crisis and with foreigners interested in moving to Serbia, food, transport, and property prices in the country are on the rise. To plan your budget accordingly, be sure to check the actual prices in messenger groups and forums you belong to.

How much money do you need to live in Serbia?

At International Wealth, we receive lots of questions on the subject. To plan your budget accordingly, you should learn how high the living expenses are in Serbia and have the simplest yet important questions answered. How much money do you need to pay your expenses in Serbia each month? What are the rents in Belgrade? What income is enough to immigrate to Serbia and live comfortably therein? These are all vital aspects for would-be immigrants.

FYI: with a relatively low income, you can start small by renting an apartment in the suburbs or countryside and launching a business in Serbia to gradually grow your income.

Living in Serbia – what to expect

Life in Serbia is not much different from the way people live elsewhere in the world. This means, they plan their income and expenses and rely on their social status when trying to reach the set goals. In Serbia, foreigners feel safe and are not afraid to leave their apartments or speak their native language.

Depending on your income and profession, you may either enjoy a luxury or a modest lifestyle in Serbia. With multiple expat groups online and offline, language barriers aren’t an issue.

Rental and lease expenses in Serbia – how much will you pay to rent office or residential premises in 2023?

At International Wealth, we recommend you exercise caution when looking for rentals or properties to purchase in Serbia. Due to high demand, real estate agents started to increase the rates. You should be careful when selecting real estate properties in Serbia as well as intermediaries in the industry.

1. In May 2022, apartment rents in Belgrade, Serbia, went up by EUR 50 to EUR 200. 
2. Cityexpert, Halooglasi, and 4 zida – these websites come with the most current real estate offers.
3. If you are about to rent a house or an apartment in Serbia, be prepared to pay a 2-month deposit and return the property to its owner as was after the lease agreement expires.

Rental rates vary in different regions and cities of Serbia. At present, finding affordable housing to rent is not as easy as it was last year, although still possible. In Belgrade and Novi Sad, a 50 m² apartment will cost you EUR 250 to EUR 500 per month depending on its location, the surrounding infrastructure, and the building type. 

REAL PROPERTIES IN SERBIA: OFFERS FROM INTERNATIONAL WEALTH

95000 EUR

Sale of Three-Room 78 sq. m. Apartment in Belgrade in Zemun Polje (after renovation)

95000 EUR

Sale of Three-Room 78 sq. m. Apartment in Belgrade in Zemun Polje (after renovation)

495000 EUR

5-room apartment for sale in Belgrade with garage and garden (Senjak neighborhood)

Food prices in Serbia

Where to eat out and how much it will cost you in Serbia, it depends. You can choose a small inexpensive coffee shop, visit a standard restaurant, or a luxury club for the wealthy with prices to match.

This is how much you will pay for a dinner in a Serbian restaurant and some foodstuffs in 2023 (for illustrative purposes):

• A three-course meal in a cheap restaurant with no drinks will cost you RSD 3000.
• Fast food will never make you go bankrupt – you will pay RSD 600 in McDonalds or BurgerKing. Alternatively, feel free to purchase a cheeseburger for RSD 200.
• Food from the store is not really pricey. Say, you will pay approximately RSD 400 for a kilo of sausages, RSD 130 for 10 eggs, and RSD 70 for a kilo of potatoes. Strong liquors are relatively expensive. On average, it will cost you RSD 1800 to purchase a bottle of strong liquor in Serbia.

FYI: in early 2023, food prices and rents in Serbia went up by 10% to 30% on average, stats claim.

Transport expenses in Serbia

How much you will pay for city trips, trips around the country, and tickets for public transport in Serbia depends on the transport you prefer. In 2022, here’s what you had to pay for transport in Belgrade:

• around EUR 50 € for a monthly bus pass
• Start taxis (standard tariff) – EUR 0.55 to EUR 1.1 € per kilometer
• personal auto that you can purchase in Serbia will cost you approximately EUR 17,000 – EUR 22,000, if you pick a Toyota Corolla.

No doubt, you can walk to your destination, yet this is a super economy option for those in love with long walking. In 2023, we see local price increases for transportation in Serbia. To be on the safe side, try finding out about transport prices in the city you are about to settle down in or consult open forums.

Monthly company maintenance expenses in Serbia

With residence and labor permits in the bag, you are free to seamlessly set up a company and launch your own business in Serbia. Here’s what monthly expenses to maintain a company with 1 to 2 employees include:

• EUR 200 to rent an office
• EUR 100 to pay for accounting services
• EUR 200 to pay payroll taxes.

The above expenses are the minimum ones. They may be much higher depending on the office area, the number of employees, and your industry type.

Monthly living expenses in Serbia

If you include utilities of EUR 100 to EUR 250 per a 2-room apartment in your expense list, here’s what the total amount to pay in expenses will be:

• for those on a budget in Serbia, living expenses will amount to approximately EUR 700 per month
• standard expenses to live in Serbia as an average citizen with average needs make EUR 1200 per month
• if heading for a comfortable yet not luxury life in Serbia, with lots of tasty food but no posh apartments or expensive cars, be ready to pay EUR 2000 per month in living expenses
• for well-off people and those in love with a glam lifestyle, the cost of life in the Balkans reaches EUR 5000 and more per month.

Don’t forget that product prices and tariffs vary depending on the city location and its economy. These factors influence living standards as well. Thus, the cost of living in Belgrade, Serbia, will be higher compared to non-capital cities.

Life and cost of living in Serbia for foreigners

How high your living expenses in Serbia will be is a highly individual issue. For freelancers earning around USD 2000 per month, life in the Balkans is not particularly expensive.

At the same time, expats looking for employment opportunities in Serbia should keep in mind that local salaries are by far not the highest in the world. Oftentimes, the Serbia average income is incompatible with living expenses in the country. It is even more true for those on a tight budget. Considering you will have to pay for your children’s studies, Serbian language courses, and transport expenses, the option is hardly worth considering.

For those about to just look around and get acquainted with Serbia, a visa run or a visa free stay of 30 days is a suitable option. In this case, you won’t worry about the price of your dinner or living expenses. If you treat your stay in Serbia as a vacation, money is not likely to be an object.

How much are you ready to pay for professional services to secure your calm?

At International Wealth, we offer expert services to those businessmen and regular people who are willing to move to Serbia. Their goals for the move may vary:

• Real estate investments. Customers choosing this option are not worried about rents as their primary goal is to purchase high-quality properties with excellent infrastructure at a bargain.
• Bank account setup. To protect personal assets and keep corporate money, International Wealth customers oftentimes favor Serbian banks. For frequent travelers and avid shoppers, we offer an opportunity to obtain a Serbian or a foreign bank card.
• Residence permits and business immigration via company incorporation in Serbia. To learn about the prices for the service, you are welcome to contact the International Wealth experts.