Today, I will share our estimated monthly costs to retire in Serbia including rent, groceries, utilities, internet, cell phone, restaurants, drinking water, laundry, and transportation if the two of us were to retire here on a tight budget.
Serbia is a country in Europe that is north of Greece and east of Italy. Serbia became a European Union candidate in 2012, but prices are still reasonable because it has not adopted the Euro yet. Serbia gained its independence from Yugoslavia when communism failed in the 1990s.
On my first tour of Eastern Europe in 2013, I spent some time in Serbia. I was surprised at how beautiful the country was. The landscape, the architecture, and the history. I also noticed that Serbian women in particular were strikingly tall and beautiful.
I have spent the last 17 years slowly traveling around the world to find the best place in the world to retire overseas. Once a year I share the top 15 places in the world to retire overseas, but I only share places where I have had my feet on the ground.
After I share my cost of living or retiring in Serbia, I will share what I learned about Serbian healthcare, food, real estate, things to do, social considerations, visas, walkability, weather, Internet speeds, and expat considerations.
Estimated Costs to Retire in Serbia
For my estimate, I will share the costs to retire in Belgrade Serbia, the capital. But if I were to live in a smaller city or rural area of Serbia, I would probably be able to reduce the following estimate by 30% or more. I gathered this data with my feet on the ground in Belgrade in July 2024.
Rents: Today, I found this furnished studio apartment with a long-term lease at 400 Euros ($442 USD) per month in Belgrade Serbia. The bus to Republic Square is 35 minutes. If this one is gone when you read this, I found it on this website. Right-click on the webpage to translate into English. If you rent for a short term on Airbnb it would be much more expensive.
A larger apartment or an apartment closer to the old town could easily cost twice as much per month. So for the middle range expenses, I estimate $800 USD per month or more depending upon area and size.
Here is the process we use to find great apartments. So, we will show you a table of all estimated expenses in a moment. We will use $442 USD per month for our lower rent estimate and $800 per month for the middle cost of living estimate for expats who want more space.
Utilities: For the apartment above, we estimate the year-round average utilities for us would be about $80 USD per month. The utilities would cost more for the larger space, starting at around $150 USD per month.
Groceries: We would shop in the farmers market for fresh fruits and vegetables, and purchase nonperishable foods and other things like shampoo and detergents in the grocery stores. We estimate about $280 USD per month for groceries. Other expats are likely to spend more on imported groceries they miss from home spending $340 USD per month or more on groceries, since most don’t go to the farmers markets.
Restaurants: We would eat out twice per week mostly in more local-style restaurants averaging about $8 to $12 USD per meal per person and one or two splurges per month of $16 to $18 USD per meal per person. If you add all that up, we would spend around $210 per month for the two of us. We may have a beer here and there, but that is covered below in alcohol.
Other expats are likely to eat more Western-style foods in expensive expat-style restaurants and less in local-style restaurants, so they would likely spend more like $310 per month for 2 people in restaurants. It is lifestyle-dependent.
Cell Phone Data: The MTS SIM card for 30 days in Serbia, I got at the bus station when I arrived cost 800 RSD was about $8 USD for 30 days with 10 GB of data. My Android phone will act as a hotspot so we can both be on the internet when we are out of the house together.
Other (retired) expat couples are likely to buy two prepaid SIM cards so they would need about $16 USD per month.
Laundry: The apartments all seemed to have clothes washing machines. The above grocery estimate includes laundry detergent.
Drinking Water: We read online that the water is safe to drink in all major cities in Serbia but to use bottled water if you head out to the country.
Internet: ATT Test said our Airbnb Wi-Fi router had 50 Mbps down and 30 Mbps upload speeds. We read online that these speeds cost about $20 USD per month for in-home Wi-Fi. You can get much faster for about $30 USD per month.
Public Transportation: Public transportation tickets cost an average of about $2.60 USD per person for a day pass. Daily needs are so walkable that we would probably average 1 ride per week or 4 per month each, so 8 rides per month for the two of us, or $22 USD per month. We would probably take another four Yande Taxi App rides per month averaging about $4 USD each, or $16 USD per month. So our total estimated transportation would be about $38 per month for the two of us.
Other expats might walk less and spend more on taxis and less on public transportation, so I estimate $120 per month for them.
Alcohol (Optional): Domestic beers in grocery stores start at about $0.90 USD for the half-litre size which is about 50% larger than the standard-sized beer in the USA. In bars and restaurants, half-liter draft domestic beers run from about $3 to $6 USD. We estimate about $110 per month on alcohol for the two of us.
Many other expats would spend a higher amount for imported foreign or craft beers in expat bars, so about $220 USD per month for 2 people assuming they are not into imported whiskey or wine.
Entertainment (Optional): We would budget about $200 per month for entertainment for the two of us. We enjoy doing more do-it-yourself kinds of entertainment, so expats would spend a little more, maybe $300 per month, for 2 of them?
Estimated Costs to Retire in Belgrade Serbia
|
Belgrade Serbia |
Lower (USD) |
Middle (USD) |
|
Rent |
442 |
800 |
|
Utilities |
80 |
150 |
|
Groceries |
280 |
340 |
|
Restaurants |
210 |
310 |
|
Cell Data |
8 |
16 |
|
Laundry |
0 |
0 |
|
Drinking Water |
0 |
30 |
|
Internet |
28 |
28 |
|
Transportation |
38 |
120 |
|
Total |
$1086 |
$1794 |
|
|
|
|
|
Alcohol |
110 |
220 |
|
Optional Total |
$1196 |
$1994 |
|
|
|
|
|
Entertainment |
200 |
300 |
|
Optional Total |
$1396 |
$2294 |
Our above lower cost estimates would be for the two of us living on a tight budget. When we first started exploring, we were on a much tighter budget. But now, we spend more because we receive additional income from YouTube and Memberships.
I would estimate that 80 to 90% of overseas retirees will spend significantly more than our above-estimated lower budget. So, the middle estimate is just another example of what other expats might spend for these expenses if they moved here.
To understand what it would cost you to live here, you must put your feet on the ground, see what you would choose to rent, eat, drink, and how you would entertain yourself, and add it all up. It doesn’t matter what anyone else spends because we are all different.
If you are a retired expat in Croatia and would like to share your cost of living, please leave a comment below and I will invite you on the channel as a guest.
Serbian Retirement Desirability Factors
I will now share what I learned, at the time of my visit in 2024, about Serbian retirement visas, healthcare, walkability, Internet, food, weather, things to do, social considerations, safety, expat communities, and real estate, and then assign an overall retirement desirability score to Serbia.
Walkability: High. We walked everywhere in Belgrade Serbia. Qiang was not with me on this trip. She waited too long to apply for her visa. I didn’t need a visa. We found all of our daily needs within a 5 to 20-minute walk of our apartment. So we would not need a car if we lived in Belgrade. Avoiding the expense of a car would be highly desirable to us.
Internet: High. The wifi in our Airbnb had 50 Mbps down and 30 Mbps upload speeds. That is good enough for us to do Zoom calls, upload YouTube videos, and watch Netflix.
Food: High. There were Farmer’s markets not far from our apartment (One, Two). They do have our favorite grocery store in Belgrade (LIDL), but since Qiang wasn’t here to be my sous chef, I ate out mostly. I shopped at a grocery store just 2 blocks from our apartment. For fresh fruits, vegetables, and meats, we would shop in the Farmers Market. Our webpage with links to all these resources I am sharing are is the first link in the first comment below this video (VagabondBuddha.com).
There are local restaurants with delicious meals starting around $8 USD to $12. There is also a large selection of foreign restaurants running from $16 to $18 USD per meal both in and outside the tourist area. I provide links to some of those below.
Weather: Medium. Average daytime highs in Belgrade in the month of January are 41F (5C) but gradually increase until July to 83F (28C) daytime highs. Average nighttime lows in Belgrade in January are 33F (0C) but gradually increase until July to 63F (17C) nighttime lows. These are averages, not extremes. The best weather runs from May through October. The rainy season is May through July but is mostly moderate. It snows in Belgrade about 27 days per year, but snow sticks on the ground for only 30 to 40 days per year on average. So Belgrade has only medium weather for me because I would want to fly south to warmer weather for at least 4 months of the year.
Things to Do: High. Belgrade is one of the most interesting cities in the Balkans when it comes to culture, nightlife, and a seemingly endless set of things to do.
The Belgrade International Theatre Festival, The Bemus Belgrade Music Festival, The International Eco Fair, The Belgrade Book Fair, The Belgrade Jazz Festival, The Free Zone Film Festival, The Balkan Wine Fair, The Belgrade Wine Fair, and The International Food and Drink Fair.
There are also live music and DJ music venue and the party scene along the waterfront, museums, art galleries, art exhibitions, and all sorts of entertainment and things to do you would expect to find in a capital city of 1.4 million people.
Social Considerations: High. In the larger cities, as you move closer to the center, as many as 40-50% of people under age 40 seem to be able to speak tourist-level English with me. About half of those can have a conversation about many subjects. People would just look at me and somehow know to start speaking English.
Safety Considerations: High. Serbia was ranked the 54th safest country in the world 78 spots safer than the USA. When I last checked, the US State Department webpage for Serbia published a level 2 risk–Exercise increased precaution. You can also review my report, How to Travel the World Safely, which is how I have remained safe traveling the world for 17 years. I went out walking after midnight in Old Town Belgrade and never felt a hint of trouble.
Expat Community: High. According to some estimates, around 100k expats live in Serbia. Although it is in Europe, it is not an official EU member country, it has not adopted the Euro as its currency, and is not a member of Schengen visa countries.
For those three reasons, it is cheaper to live here and people traveling around Europe can come here to wait for 90 days before going back to more expensive Schengen member countries.
This confirms what I have known for decades, prices seem to rise rapidly when countries adopt the Euro as their currency especially when they are also a Schengen member.
Here are a few Facebook pages that cater to English-speaking expats living in Serbia: 1, 2, 3, 4, 5. These online expat communities are great for learning all about things that expats want to learn when they first move overseas. Make sure to search for previous questions asked and answered recently before posting any new questions to these groups.
Medical: High. This healthcare international comparison index ranks Serbia 80th in the world, 11 spots lower than the United States which ranks 69th. There are different ways healthcare is rated, but this one seems to be considering quality of care in relation to what patients are charged.
If you decide to move here, make sure to ask around for referrals and establish relationships with doctors based on the feedback you have gotten from others who have used their services. The above Expats Facebook pages I shared are often a good source for that sort of information.
Tourist Visa: High. Citizens of many countries such as the UK, Australia, New Zealand, Canada, Malaysia, EU, USA, and many others, are given 90 days of visa-free entry. But the law is always subject to change. Plus, visa-free entry varies based on your home country’s passport, so double-check both before booking anything.
Residence Permits: Medium. There seem to be three ways that retired people live in Serbia: (1) owning a business, (2) buying a property, or (3) establishing yourself in the country. We are not discussing other kinds of visas such as work visas since we are focused on retirement.
Establishing Yourself Here: Apply for a visa beforehand or come here (on visa-free entry) and rent (or buy) an apartment. Once you have your White Registration card (beli kartica), open a bank account for your retirement/pension to deposit. Americans should use Erste Bank or OTP, because so far, they are willing to do the reporting required to the US government about foreign accounts. Only the USA has this requirement. Then you have local verifiable deposits to prove you have enough to live on. You will also need proof of health insurance and other documents. Then, submit your 1-year residency permit application no less than 30 days prior to your visa-free entry expiration. Many expats recommend using a lawyer to do all this the first time around.
Owning a Property: Some expats report a smoother process by buying real estate in Serbia. Serbia doesn’t have a minimum purchase price to qualify for residency, but the property must be approved by the governing authority. So you should use a qualified lawyer to make sure this goes smoothly and there are even some nuances based upon your home country passport.
Owning a Business: In order to use this method of obtaining residency, things will go more smoothly if you are establishing a foreign branch in Serbia or an active company in another country. These requirements are not published online anywhere I could find, so you may need to hire a local lawyer with this skill set.
Permanent residency is possible after five years using any of these three methods, so long as you stay in Serbia for at least two and a half years over these five years.
To find a reputable lawyer or visa agent, I would recommend that you request a referral to an agent from an expat who has already used that agent’s services to obtain residency using the specific method you intend to use above to obtain residency.
I would locate such an expat via inquiry at the Facebook pages I shared above. Ask the expats there for an agent (or better yet, an immigration lawyer) who they have already successfully used personally to get residence permits.
Real Estate: Medium. Foreigners in Serbia can buy, sell, and rent their real estate in Serbia based on a reciprocity rule. If Serbians are allowed to buy real estate in your home country, you can buy real estate in Serbia, etc.
Today, I saw this Furnished 1 Bedroom Apartment for sale in Belgrade for 145k Euros ($160K USD). However, I do not recommend buying real estate in a foreign country until you have lived there for an extended period of time making sure you love it. If you decide to buy real estate, you should also get your own lawyer who has no conflict of interest with you. For example, do not use a lawyer recommended by your real estate broker or your local lover.
Serbia Retirement Desirability Score: Medium. The winters are fairly mild here in Belgrade as compared to other parts of Northern Europe, but it is still too cold for me to live here year-round. So, I would need to fly south for the winter. But if only 45 days of snow on the ground and 4 seasons is what you prefer, then you may want to rank this as high.
What would it cost you to live here in Belgrade Serbia?
You should also add anything to the above table that you spend money on in your home country that is not listed in the above table. Presumably, you find those things necessary in life. To do that, visit the Numbeo Belgrade and add anything not mentioned in the above table.
Also, if you are going to try to retire cheap offshore, make sure to read my report, the Two Biggest Risks of Retiring Early for Cheap Offshore, which explains why you should have emergency funds available for unexpectedly large expenses.
Never move anywhere until you have visited first personally to verify the living costs for your lifestyle and needs. I am not guaranteeing these prices. These are just my notes and estimates from the time of my visit and this post. Your costs will likely be drastically different depending on your lifestyle and the time since this post.
Many of the expats we meet living overseas are self-insured for medical care. That means that not everyone buys health insurance when they move overseas. That probably sounds crazy to many of you.
I didn’t carry medical insurance for most of my first 17 years living overseas. But last year I bought medical insurance. If you are wondering what it costs and what it covers, watch my medical insurance video at this link. This is not an affiliate link.
More typical expat living costs in Belgrade range from about $1500 to $3000 USD per month. But people spending that much often have higher savings, incomes, or pensions. They often report spending more on accommodations, entertainment, eating out more, traveling, and alcohol. Many also have more expensive cars, houses, or apartments.
Short History of Belgrade
Belgrade is one of the oldest continuously inhabited cities in Europe. Belgrade was conquered by the Romans during Augustus’ reign in the mid-2nd century. Control of Belgrade was traded by the Slavs, the Byzantines, the Bulgarians, and the Hungarians before Serbian King Dragutin took over in 1284.
Belgrade was conquered by the Ottomans in 1521 but they traded control with the Habsburgs which destroyed most of the city during the Ottoman–Habsburg wars.
Belgrade was the capital of Yugoslavia from its creation in 1918 to its dissolution in 2006. In 2006, Serbia became an independent republic after Montenegro separated peacefully.
Serbia is an upper-middle income economy, ranked “very high” in the Human Development Index domain. Since 2014, the country has been negotiating its EU accession, with the possibility of joining the European Union by 2030. The country provides universal health care and free primary and secondary education to its citizens.
Belgrade Old Town Walking Tour
Nikola Tesla Museum is a museum and resting place of Tesla’s life and work. It is a 1927 mansion converted into a museum in 1955. Tesla was a Serbian-born engineer who lived from 1856 to 1943. He emigrated to the United States in 1884 where he worked for Thomas Edison before starting his own ventures and filing over 300 patents. To geeky engineers, he is famous for inventing alternating-current motors.
National Assembly was completed in 1938. An enormous library on the first floor has over 60,000 volumes, and the building has many frescoes, paintings, and sculptures throughout.
Skadarlija Street is a former municipality but no Belgrade’s Old Town and one of Belgrade’s busiest tourist areas, attracting over 20,000 people daily. It runs for 400 meters connecting Despot Stefan Boulevard with Dušanova Street. Gypsies built the first houses in the area around 1717, so it is often called Gypsy Quarter.
National Theatre construction began in 1868 located on what is now known as Republic Square where the outer gates to the Belgrade Fortress once stood. It was heavily damaged from WWII bombings but has been restored nicely.
National Museum is next to the National Theatre was completed in 1844 and was completely rebuilt and reopened in 2018. The art collection includes works from French, Dutch, Russian, German, Flemish, Italian, Japanese, and Chinese masters, and includes pieces by Picasso, Monet, Renoir, Rouault, Degas, and Cezanne. Entrance is free on Sundays, and the museum is closed every Monday.
Prince Michael Street is one of the main pedestrian zones in the city, as well as being one of the main attractions in town and a popular shopping district.
Belgrade Fortress as it is affectionately called now, was already here in a previous form when the Romans captured the city in 34 BC. But Belgrade has had carbon artifacts dating as far back as 5700 BC.
Where we stayed in Belgrade
We stayed at this Airbnb for $29 USD per night before adding Airbnb fees, cleaning fees, and taxes. It was a great location but we would move further out if we had time to stay for a month or longer.
How we got to Serbia from Bosnia to Belgrade
I took a bus from the bus station in Bijeljina Bosnia to the bus station in Belgrade Serbia. Then I used the Yandex Taxi App (APP) to get to and from the Airbnb Apartment in Belgrade.
Restaurants, Bars, Markets, Services
Restaurants (USD)
I was on a vegetable juice fast for 7 days while in Serbia. The only restaurant I ate while there was this Mexican Restaurant which was delicious.
Tortilla Casa: The burritos were about $6.50 USD and they were massive (enough to fill a large adult).
Markets and Services:
Max Supermarket: 2 Blocks from our apartment.