360Blog
The short-term rental boom in Belgrade has recalibrated yields across the city. These numbers are indicative, location, floor, furnishing, and booking strategy move them by 100+ basis points.
Indicative gross yields (2026)
| Area | Price / m² | Monthly rent (long-term) | Gross yield |
|---|---|---|---|
| Dorćol (old) | 3,400 EUR | 600 EUR | ~4.2% |
| Vračar (core) | 3,800 EUR | 650 EUR | ~4.1% |
| Belgrade Waterfront | 5,200 EUR | 800 EUR | ~3.7% |
| Zvezdara (Lion) | 2,400 EUR | 460 EUR | ~4.6% |
| Novi Beograd (blocks 70–72) | 2,700 EUR | 500 EUR | ~4.4% |
| Voždovac (Banjica/Autokomanda) | 2,500 EUR | 470 EUR | ~4.5% |
| Zemun (centar) | 2,300 EUR | 430 EUR | ~4.5% |
The gross-to-net gap
Gross yield is the rent-to-price headline. Subtract 20% tax on rental income, a month of vacancy per year, maintenance and condo fees, and gross 4.5% becomes closer to 3.3% net. Short-term (Airbnb) in central districts can clear 6–8% gross but carries higher cost and regulatory risk.
When prestige neighborhoods "underperform"
Waterfront's lower yield is not a flaw, it's a feature. You trade running yield for capital preservation and renter quality. Investors who buy there aren't optimizing for monthly return; they're optimizing for a building that will still look new in ten years.
The cheat code
Buildings built in the 1990s with a post-2015 full renovation often combine the yield of an older neighborhood with the maintenance profile of a newer one. Look for these on Vračar's outer ring and in central Novi Beograd.
