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Why not consider Belgrade property?

Like many Eastern European capitals, Belgrade is a combination of mouth-watering historical architecture and uninspiring Soviet-era buildings, but should not be overlooked by property investors

Why not consider Belgrade property?

Much of the impressive urban scenery can be found in downtown Belgrade, where buildings like the Serbian Academy of Sciences, the Hotel Moscow and the Hotel Ruski Car add a certain panache to the tree-lined streets. There are some beautiful Art Deco buildings in Belgrade, such as the Old Telephone company, as well as classically beautiful architecture like the House of Parliament or the National Theatre.

Knox Mihailova, Belgrade's main walking street, has benefited hugely from foreign property investment in recent years, and some of its most beautiful ancient buildings have been restored from a state of disrepair back to their former glory. As more capital pours into Belgrade, this is also a great area in which to invest in property.

Another attractive area of Belgrade for property is the residential area of Senjak, typified by older pre-Soviet architecture and overlooking the river. This neighbourhood is more upmarket than Novi Belgrade, which is growing fast but has yet to see anything impressive in the way of architectural revelations. It also houses many of the country's embassies. Many of the new build and off-plan property developments in Belgrade can be found in the Novi Belgrade area, especially along the Belgrade Novi-Sad Highway. It's a modern neighbourhood with a suburban feel and wide, spacious roads, but is set to become increasingly developed as the Serbian economy evolves. There you should expect to pay around £1,500 per square metre for property.

Contrasting with Novi Belgrade is Zemon, the old town of Belgrade, which has a number of impressive buildings dating back to the 19th century. Prime tourist attractions include the National Theatre, the Old Palace, the Cathedral Church and the National Museum. Influences from many different periods can be seen in these buildings – most prevalent are neoclassicism, romanticism and art nouveau.

Also popular with tourists are Nikola Pasic Square, Terazije, Students' Square, the Kalemegdan Fortress, Prince Michael Street, parliament and the Temple of Saint Sava. The riverside areas boast a number of attractive cafés, bars, parks and monuments, which act as tourist magnets. Particularly popular are the beautiful Topcider and Kosutnjak parks.

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Article published in July 2007