Frequently Asked Questions About Real Estate

Frequently Asked Questions

• What documentation must a buyer provide when purchasing property in Serbia?

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  Proof of citizenship of the Republic of Serbia, which is proven with an ID card, passport or other identification document. A photocopy of one of these documents is accepted along with presentation of the original.

• What are the most important factors that affect property value?

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  The main factor in property valuation is certainly its area. The following parameters most affect the price: location, property condition (age and quality of construction), number of floors, installations (type of heating, condition of installations), carpentry, building materials, roof condition, facade, garage/parking space.

• Can foreign nationals buy property in Serbia?

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  Citizens of European Union countries can buy property in Serbia without restrictions, except for agricultural land. Citizens of other countries can buy property with permission from the Ministry of Justice.

• What is the property transfer tax in Serbia?

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  The property transfer tax in Serbia is 2.5% of the market value of the property. This tax is paid by the buyer when the ownership is transferred.

• What is capital gains tax and when is it paid?

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  Capital gains tax is the difference between the price at which the property was purchased and the price at which it was sold. By law it is 15%. Those obligated are persons who acquired the property in the last 10 years. Exemption is granted by purchasing another property within 90 days.

• How is the market value of a property determined?

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  Market value is determined based on an assessment by an authorized appraiser, comparing it with similar properties on the market, taking into account location, condition, square footage and other relevant factors.

• Who bears the cost of notarizing a purchase and sale agreement?

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  The costs of notarizing the agreement are most often borne by the buyer, unless otherwise agreed between the contracting parties.

• Is an agency needed for buying or selling property?

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  An agency facilitates the process, provides legal security, helps with valuation, conducts negotiations and provides complete documentation. It is recommended to engage an agency for safety and efficiency.

• How long does the property purchase process take?

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  The purchase process can take from several days to several weeks, depending on the readiness of documentation, agreement between the parties and the speed of processing in the competent institutions.

• What is the difference between a property deed and a registration decision?

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  A property deed is an official document that confirms the right of ownership of a property, while a registration decision confirms a change of ownership after a purchase and sale or other legal transaction.

• Can I buy property on credit?

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  Yes, most banks in Serbia offer mortgages for property purchases. You need to meet the bank's conditions and provide the necessary documentation.

• What is a preliminary agreement and when is it signed?

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  A preliminary agreement is signed when the parties have agreed on the basic conditions of the sale, but are not yet ready for the final agreement. The preliminary agreement binds the parties to conclude the main agreement within the agreed period.

• What are the seller's obligations when selling property?

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  The seller is obliged to deliver the property free of encumbrances, provide complete documentation, allow inspection and inform the buyer of all relevant information.

• How is property ownership transferred?

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  Ownership is transferred by signing a purchase and sale agreement, notarization by a notary public and registration in the real estate registry.

• Is it possible to rent an apartment without an agency?

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  It is possible, but an agency provides additional security, legal protection and helps resolve any disputes between the tenant and the landlord.

• What are the obligations of tenants and landlords?

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  The tenant is obliged to pay the rent and maintain the apartment, while the landlord must provide a functional space and respect the agreed conditions.

• How is property tax calculated?

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  Property tax is calculated based on the value of the property and is paid quarterly. The amount of tax depends on location, square footage and purpose of the property.

• What is an energy passport and is it mandatory?

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  An energy passport is a document that shows the energy efficiency of a property. It is mandatory for new construction and when selling property since 2013.

• How can I check the legality of a property?

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  Legality is checked by reviewing the cadastral register, property deed, building permit and use permit. It is recommended to consult with a qualified professional or agency.

• How to contact Tukodi real estate agency?

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  You can contact us by phone at 060 139 0 333, email at info@nekretninetukodi.rs or in person at our office at Bulevar Zorana Đinđića 45V loc 8, Novi Belgrade.