How Much Does a Square Metre Cost in European Cities? A Comparison of Property Prices

When we start thinking about buying a property, one of the first questions that usually comes to mind is:

How much does a square metre cost?

But when we hear that an apartment costs €3,000, €5,000 or even €10,000 per square metre, it can be difficult to understand just how expensive that actually is.

That is why we compared property prices across European cities.

And the differences are quite remarkable.

How much does a square metre cost in European cities?

According to data from Global Property Guide, most recently updated in April 2026, residential property prices vary significantly from one European city to another.

Source: Global Property Guide.

Important: International property databases do not necessarily use the same methodology as official transaction data in individual countries. The figures should therefore be viewed as an indication for market comparison rather than as the actual price at which any particular property can be purchased.

Where does Belgrade stand on the European property map?

According to this international comparison, Belgrade, at around €3,271 per m², remains significantly more affordable than most major Western European cities.

For comparison:

• Zurich – €18,205/m²
• Paris – €9,490/m²
• Vienna – €7,965/m²
• Prague – €6,269/m²
• Zagreb – €3,939/m²
• Belgrade – €3,271/m²
• Sofia – €2,680/m²
• Bucharest – €2,250/m²

However, there is an important distinction to make here.

The figure reported by an international property database is not necessarily the same as the price at which properties are actually sold.

This is why official transaction data is particularly important when looking at the Serbian market.

What do the official figures tell us about Serbia?

One of the most important sources for the Serbian property market is the Republic Geodetic Authority (RGZ) and its Real Estate Price Register.

Unlike asking prices found in property listings, RGZ data is based on actual transactions and therefore gives us a different perspective on the market.

According to RGZ, the Serbian property market remained active during the first quarter of 2026. The total value of real estate transactions reached approximately €2 billion, while the number of sales and purchase contracts increased by 6.2% compared with the same period in 2025.

Novi Sad is particularly interesting. The number of property transactions in the city increased by 6.1% compared with the first quarter of 2025.

👉 See the official RGZ reports on the Serbian property market

And how much does a square metre cost in Novi Sad?

This is where things get a little more complicated – and much more interesting.

If someone asks:

“How much does a square metre cost in Novi Sad?”

there isn't one simple answer.

Prices can vary considerably depending on whether you are looking at the city centre, Liman, Grbavica, Podbara, Telep, Novo Naselje, Adice, Petrovaradin or Sremska Kamenica.

The type and condition of the property also matter.

For example:

• new-build or older property,
• exact location,
• condition of the apartment,
• floor,
• lift,
• parking or garage,
• terrace,
• orientation,
• construction quality.

This is why an average price per square metre can be useful for understanding the market, but it is not enough to determine the value of a particular apartment.

Why can two 60 m² apartments have completely different prices?

Imagine two apartments of exactly the same size.

Both are 60 m², but one is in a well-located new development with a garage, while the other is in an older building without a lift or parking.

The size is the same.

The price isn't.

Property value depends on much more than floor area.

Some of the most important factors include:

• location,
• supply and demand,
• quality of construction,
• condition of the property,
• infrastructure,
• transport connections,
• energy efficiency,
• nearby amenities.

That is why looking at one property listing and saying “this is the price per square metre in this neighbourhood” can be misleading.

Is Belgrade expensive compared with the rest of Europe?

If we look only at the price per square metre, Belgrade is still below most of the major Western European cities included in this comparison.

But there is another, perhaps even more important question:

How expensive is housing compared with local incomes?

This makes the comparison much more interesting.

A €3,000 per m² apartment does not represent the same financial burden in a city with very high average incomes as it does in a city where average salaries are significantly lower.

That is why housing affordability cannot be measured by property prices alone.

You also need to consider:

• average salaries,
• mortgage interest rates,
• access to housing finance,
• required down payment,
• rental prices,
• cost of living.

What do these property prices actually tell us?

The price of a square metre is more than just a number on a property listing.

It reflects the relationship between supply and demand, location, the local economy, infrastructure and quality of life.

That is why the more interesting question isn't simply:

“How much does a square metre cost?”

A better question is:

“What am I actually getting for that price?”

And that is where a proper understanding of the property market begins.

Conclusion

From more than €18,000 per m² in Zurich to around €2,250 per m² in Bucharest, European property markets show just how dramatically residential prices can vary.

In this international comparison, Belgrade sits somewhere between the major Western European cities and several markets in South-Eastern Europe.

But when you are buying or selling a property, an average price is never enough.

Location, condition, construction quality and the specific characteristics of a property can make a significant difference to its value.

So the right way to look at a property is not simply by asking how much a square metre costs in the city.

The better question is:

What does that square metre actually offer for the price?

Thinking about selling a property in Novi Sad?

At Agent360, we can help you assess your property in relation to the current market and comparable properties.

Get in touch with us and find out what your property could realistically be worth.

Sources

• Global Property Guide – European property prices
• Republic Geodetic Authority – Serbian real estate market reports

Note: International property databases may use different methodologies and data sources for individual countries. The figures should therefore be used primarily for market comparison rather than as directly comparable transaction prices.