One of the most appealing aspects of living in Serbia is the relatively low cost of living, especially when compared to other European countries. From affordable accommodation and food to reasonable public transport and entertainment costs, living in Serbia is a financially viable option for many students.
Currency
The official currency of Serbia is the Serbian dinar (RSD). The exchange rate is approximately 117 dinars to 1 euro (December 2024), but it’s essential to check the daily exchange rate for the most accurate information.
It’s important to note that payments in Serbia should generally be made in dinars, as most shops do not accept other currencies. When exchanging currency, it’s advisable to use accredited exchange offices or banks. Attempting to exchange money on the street is both illegal and risky. Many banks in Serbia have 24-hour ATMs, some of which also allow currency exchange. Exchange offices, clearly marked and located throughout cities, usually offer better rates than those found at banks, airports, or hotels. Rates may vary between banks and exchange offices, so it’s worth comparing them to get the best deal.
Besides cash, debit and credit cards from major providers are widely accepted across the country, making it convenient for both locals and visitors to handle their financial transactions.
Costs of studying
Education in Serbia is relatively affordable compared to many Western countries, especially for those studying at public institutions. Serbian residents can either have their studies financed by the state or pay tuition fees, depending on the programme. For foreign students, tuition fees are usually required, and these can vary significantly depending on the institution and the level of study.
Tuition fees for foreign students usually range from EUR 750 to EUR 20,000 per year, depending on the course and the institution. It’s worth noting that local students may pay lower fees than international students, but the specific fee structure should be checked on the institution’s website for the most up-to-date information.
While the cost of books and study materials is generally not included in the tuition fee, these expenses are relatively low, usually ranging from EUR 100 to EUR 250 per year.
Accommodation
Accommodation costs in Serbia can vary widely depending on the location, size, and condition of the property. For students, the most affordable option is often sharing a flat with others. In smaller towns, rent for a shared flat can start from around EUR 150 per person, excluding utilities. In contrast, private accommodation in the centre of Belgrade can be significantly more expensive, with rent for a one-bedroom flat reaching up to EUR 1200 per month.
For those willing to live outside the city centre, renting a flat in Belgrade’s can cost anywhere from EUR 300 per month. These prices may vary depending on the area and the amenities provided in the flat.
Food expenses
For students, a convenient option is dining at student canteens, which offer affordable meals ranging from 1 to 2.6 EUR per meal for those who own a student card. Many students opt for these canteens to save money while enjoying a well-balanced meal.
When it comes to groceries, supermarkets are usually cheaper than smaller local shops. Fruits and vegetables, in particular, are often better quality and more affordable when purchased at farmers’ markets. If you prefer to cook at home, you can comfortably manage your food budget with around EUR 100 to EUR 200 per month.
Travel costs
For students living in Serbia, public transportation is an affordable and convenient option for getting around. A monthly travel pass, which offers unlimited journeys on all modes of public transport, costs around EUR 10 or less, thanks to student discounts. This pass provides access to buses, trams, and trolleybuses, making it an excellent way for students to explore the city or commute to and from their university without worrying about additional travel costs.
Estimated costs per month
The total monthly living costs in Serbia can vary depending on the city and your lifestyle. For those living in larger cities such as Novi Sad, Niš, or Kragujevac, monthly expenses usually range from EUR 750 to EUR 1450. This estimate includes accommodation, food, transportation, and other living expenses. In these cities, you can enjoy a comfortable lifestyle with reasonable costs for both rent and daily necessities.
However, if you are planning to live in the capital city, Belgrade, the cost of living tends to be higher. Monthly expenses in Belgrade generally range from EUR 850 to EUR 2,000, depending on your lifestyle and the area where you live. Rent in central locations and other amenities can significantly increase costs, but there are still many affordable options available in the less central areas. This estimate covers usually expenses like rent, utilities, groceries and transportation, though individual circumstances may cause costs to vary.
