For example, a €200,000 apartment in an older building would normally be subject to a 2.5% property transfer tax, or €5,000. However, first-time buyers who meet the legal requirements can be exempt from the tax on up to 40 square metres, with an additional 15 square metres for each eligible household member. Other costs include notary services, property valuation, mortgage-related fees, insurance and registration expenses.
Real estate agency fees can add another significant amount, with commissions commonly around 2% of the purchase price. Renovation can become an even larger expense, particularly when buying older properties, where electrical and plumbing systems, bathrooms, windows and floors may need to be replaced.
Depending on the scope of the work and furnishing, renovation and fitting out an apartment can add anywhere from several thousand euros to more than €30,000.
The analysis therefore warns prospective buyers to plan for the total cost of ownership rather than relying on the price advertised by the seller. This is particularly important for buyers using mortgages, as many additional expenses arise before the bank disburses the loan. With Serbian property prices continuing to rise — the average apartment price in the country increased by 15.81% year-on-year in the first half of 2026 — careful budgeting has become an increasingly important part of purchasing a first home.
