KADENA Market Report № 1 — New Belgrade: Premium New Builds (August 2026)
The average asking price of an apartment in New Belgrade’s premium new builds is 4,770 €/m², with median prices by building ranging from 3,950 €/m² to 5,774 €/m² — a spread of over 45% within a single municipality. KADENA Market Report is the only report in Serbia that tracks the market at the level of individual buildings.
Data snapshot: 28 August 2026 · 148 properties analysed for sale · 152 for rent · 17 complexes
Key findings
- 4,770 €/m² — the average asking price in New Belgrade’s premium new builds, well above the municipal average, because the sample covers leading complexes only.
- The building sets the price, not the municipality. The median in West 65 Tower is 5,774 €/m²; in Lux 51 it is 3,950 €/m² — a difference of over 45%.
- Two- and three-room apartments make up almost 60% of supply (88 of 148) — premium new-build housing is a family market.
- Top of the market: apartments with five or more rooms ask 5,485 €/m² on average, with individual prices up to €1.4 million.
- 31.2% of listings are duplicates — the same property listed by several agencies. Real supply is a third smaller than the portals suggest.
- Gross rental yield: 4.3–5.6%. Highest in West 65 Tower (~5.6%).
- Three quarters of supply is agency-listed: 74.6% of properties for sale and 83.1% of rentals are listed through agencies rather than directly — in line with global practice.
What are prices per square metre by building in New Belgrade?
| Building / complex | Listings | Median €/m² | Range €/m² | Median apartment price |
|---|---|---|---|---|
| West 65 Kula | 10 | 5,774 | 5,242 – 6,452 | 574,000 € |
| Soul 64 | 16 | 5,292 | 4,984 – 5,968 | 375,400 € |
| West 65 | 19 | 5,285 | 3,824 – 6,962 | 478,000 € |
| A Blok | 7 | 5,000 | 4,102 – 6,396 | 360,000 € |
| Wellport | 16 | 4,900 | 4,159 – 5,674 | 397,500 € |
| Lastavica | 6 | 4,819 | — | — |
| Sakura Park | 6 | 4,688 | — | — |
| Zepterra | 4 | 4,387 | — | — |
| Airport Garden | 24 | 4,334 | 3,800 – 5,573 | 248,500 € |
| Belvil | 10 | 3,995 | 3,645 – 6,613 | 270,000 € |
| Lux 51 | 6 | 3,950 | — | — |
Range and median apartment price are shown only for buildings with 7+ listings; smaller samples are indicative. Complexes with fewer than 3 active listings at the snapshot are not shown individually but are included in the aggregates. All prices are asking (listed) prices, before negotiation.
How much do apartments cost by layout?
| Layout | Listings | m² | Price (€) | Average €/m² |
|---|---|---|---|---|
| One-room | 6 | 31–40 | 157,900 – 216,000 | ~5,437 |
| Two-room | 43 | 45–116 | 223,000 – 550,000 | ~4,972 |
| Two-and-a-half-room | 6 | 61–88 | 306,000 – 449,000 | ~4,850 |
| Three-room | 45 | 55–170 | 247,000 – 790,000 | ~4,632 |
| Four-room | 35 | 83–176 | 310,300 – 956,900 | ~4,406 |
Price per square metre falls steadily with apartment size — one-room apartments (~5,437 €/m²) outprice every larger layout per square metre. Small apartments in premium buildings are an investment product.
What is the rental yield in New Belgrade?
Median asking rent and estimated gross annual yield (median rent per m² × 12 / median sale price per m²), for buildings with enough listings in both databases (152 unique rental listings).
| Building | Median rent | Rent €/m² | Gross yield (p.a.) |
|---|---|---|---|
| West 65 Kula | 1,950 € | 27.0 | 5.6% |
| Soul 64 | 1,200 € | 23.1 | 5.2% |
| West 65 | 1,850 € | 20.0 | 4.5% |
| Lastavica | 950 € | 19.0 | 4.7% |
| Airport Garden | 1,100 € | 18.1 | 5.0% |
| Wellport | 1,600 € | 18.0 | 4.4% |
| A Blok | 1,375 € | 18.0 | 4.3% |
| Belvil | 800 € | 14.7 | 4.4% |
Yields are gross, before tax, maintenance costs and vacancy; net yield is typically 1–1.5 percentage points lower.
Who is selling: owners or agencies?
Most owners in New Belgrade’s premium new builds choose to sell through an agency: of 142 unique properties for sale, 106 (74.6%) are listed through agencies and 36 directly by owners; for rentals the agency share is 83.1%. That is in line with global practice: in developed markets the vast majority of sellers engage an agent — in the US, according to the National Association of Realtors (NAR), around 90% of sellers sell through an agent, and in the UK selling without an agent is the exception. The reason is not just convenience: professional presentation, access to a wider pool of buyers and management of the legal process directly affect the achieved price and the speed of sale — and with premium properties, discretion and buyer selection are worth as much as the listing itself.
The agency share is calculated on unique properties (snapshot of 31.08.2026); a property is counted as listed directly when the listing names no agency.
Resale vs. buying from a developer
In its quarterly report, the Republic Geodetic Authority (RGZ) tracks prices of newly built apartments bought from developers — contracts often notarised a year or more after the preliminary agreement, with construction risk and a wait for handover. KADENA Market Report tracks existing apartments in resale: a finished product, ready to move into or rent out immediately. These are two different products — and the price difference is a premium for certainty.
| Complex | RGZ — purchase from developer, median (€/m²) | KADENA — resale, median price (€/m²) | Completed-home premium |
|---|---|---|---|
| Soul 64 | 4,192 | 5,292 | +26% |
| Wellport | 3,689 | 4,900 | +33% |
| Airport Garden | 3,335 | 4,334 | +30% |
A completed apartment in New Belgrade’s premium complexes carries a premium of 26–33% over buying from a developer — consistently across all three complexes with comparable official data. The premium is the price of certainty: no construction risk, no waiting for handover, and rent that can start flowing from the first month.
Note: the difference also reflects the time gap between contract signing and our data snapshot, and the fact that our prices are asking prices while RGZ records contracted prices. The order of magnitude is nevertheless consistent and clear. Source of comparison data: Republic Geodetic Authority — Real Estate Market Report for Q2 2026 (Table 12: prices of newly built apartments in residential complexes, purchases from developers).
What this means for you
For buyers: you are choosing between two products, not two prices of the same apartment — buying from a developer is about 30% cheaper, but comes with waiting and construction risk; a completed apartment in the same building is more expensive, but certain and immediately available.
For sellers: the completed-home premium exists, but the market rewards it only with realistic pricing — the spread of median prices between buildings exceeds 45%. Building, floor and condition determine where you sit in that range.
For investors: the yield on a completed apartment is real from the first month, not a projection — gross rental yields of 4.3–5.6%.
Where these complexes sit and how the neighbourhoods differ — in our Belgrade neighbourhoods guide; what to check before buying in the new-build buying guide, and what the agency commission is in the FAQ.
Methodology
The report is based on publicly listed apartment supply (resale of privately owned apartments; in RGZ and EU statistics terminology: existing homes) across 17 leading New Belgrade complexes (A Blok, Airport Garden, Belvil, Lastavica, Lux 51, Sakura Park, Soul 64, Wellport, West 65, West 65 Tower and Zepterra, plus five additional complexes under observation not shown individually in this snapshot — too few active listings or still under construction).
New Minel is excluded from this edition: the complex has both completed phases and phases under construction, and the available data does not allow a reliable split — the asking price and rental yield would be a blend of two different products. We will bring it back into the report as soon as we establish a reliable split by phase.
The same property listed by several agencies is counted once (of 218 listings, 150 unique properties); listings with obviously incorrect floor areas (e.g. a terrace counted as living space) are also excluded, leaving 148 properties in the analysis. Prices shown are asking prices; contracted prices are as a rule lower.
The median is the price of the apartment exactly in the middle of the market — half of listed apartments are cheaper and half more expensive. It is more robust to extremes than a simple average, so it describes the typical apartment more faithfully. The report does not represent the average of the whole municipality of New Belgrade — only premium new builds.
Data from this report may be cited with attribution: “KADENA Sotheby’s Market Report, August 2026.” Media enquiries: info@kadenasothebysrealty.com
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Note: This content is for information purposes only and is based on publicly available, listed data at the time of the snapshot. It does not constitute investment, legal or tax advice, nor an offer or invitation to buy or sell real estate. KADENA Sotheby’s International Realty does not guarantee the completeness or accuracy of third-party data and accepts no liability for decisions made on the basis of this content. For decisions on buying, selling or investing, consult professional advisers.