Renting Apartments on Zlatibor: What is the Return on Investment (ROI)?

Zlatibor has held the title of the most visited mountain in Serbia for years. While some are looking for the perfect place to rest, an increasing number of people are viewing this mountain through the lens of numbers. The question we most often get from our clients is: "How many years will it take for this investment to pay off?"

In this article, we analyze the real ROI (return on investment), costs, and factors that make the difference between average and excellent income.

What is ROI really and how is it calculated in the mountains?

Return on Investment (ROI) is the percentage of profit you earn relative to the money invested. On Zlatibor, it consists of two parts:

• Direct income from renting apartments to tourists
• Indirect growth through the increase in price per square meter over time

Real calculation: Numbers on the table

Our model is based on the "high occupancy – affordable price" strategy, which has proven to be the most stable on Zlatibor.

Rental income

Thanks to the Gold Gondola and facilities that operate year-round, it is realistic to expect your apartment to be rented 200 days per year.

With an average price of €42 per night, your apartment generates €8,400 in gross income annually.

Many investors wonder if the figure of 200 days is too optimistic. However, reality on the ground shows that Zlatibor is no longer a "seasonal" mountain that lives only in January and August. Thanks to strategic projects like the Gold Gondola, which connected the center with the top of Tornik, the mountain has become a magnet for tourists throughout all 365 days of the year.

How are 200 days distributed throughout the year?

Peak periods (Winter and Summer) – 130 days

These are periods when Zlatibor is looking for "one more bed".

• Winter season (December–February): Skiing, New Year's holidays, and school breaks guarantee occupancy of over 80%
• Summer season (July–August): Due to pleasant climate and escape from city heat, these months have become as popular as winter

Math: During these months, the nightly price ranges from €55 to €80, which significantly increases your annual average.

Holidays and extended weekends – 30 days

Zlatibor is the absolute champion of Serbia in terms of visits during national and religious holidays.

• Sretenje, Easter, May 1st, and November 11th: These periods are almost always 100% booked months in advance

Math: During holidays, prices reach their maximum, often over €100 per night, which directly contributes to your gross income.

"Business & Wellness" periods (Off-tourist season) – 40 days

This is the period where the difference between an average and excellent investor is made. May, June, September, and October are reserved for:

• Congress tourism: A large number of seminars and team buildings
• Digital nomads and retirees: People looking for peace and lower prices

Math: With a lower price strategy of around €30–35 during weekdays in these months, you ensure that the apartment "doesn't sit idle", thereby covering all fixed utility costs.

Average strategy: €42 as the key to success

You might wonder why we calculate an average of €42, if we know that apartments often go for over €60?

The answer is simple: Sustainability.

Our goal is for your apartment to generate €8,400 gross annually without stress. Calculating with an average price of €42, you are more competitive in the market (Booking.com and Airbnb). This allows you:

• Better reviews (Value for money): Guests are more likely to choose an apartment that offers top quality at a fair price
• Less vacancy: It's better to have an apartment rented 200 days at €42 than 100 days at €60. In the first case, you earn €8,400, while in the second you stay at €6,000

Conclusion: With 200 days of occupancy, your apartment not only pays for itself but becomes a "machine" for generating cash that works for you while you enjoy or plan your next investment.

Maintenance costs (Expenses)

For guests to be satisfied and the apartment to be preserved, professional maintenance is necessary. Annual costs (electricity, heating, internet, cleaning, linen washing, and taxes) for an apartment of this type amount to approximately €2,400.

Transparent about expenses: Where does €2,400 go annually?

Many real estate sellers only talk about income, but we believe that a good investor must know the other side of the coin – expenses. For your apartment on Zlatibor to maintain "5-star" status on Booking and remain in impeccable condition, professional maintenance is necessary.

The annual cost of €2,400 (average €200 monthly) covers everything needed for your business to function "like clockwork":

Fixed utility and communication costs (~€960)

Regardless of how many guests are in the apartment, certain bills arrive every month:

• Electricity and water: Thanks to modern insulation of our buildings, heating costs are minimized
• Internet and TV: Fast and stable WiFi is today's priority number 1 for every tourist
• Building maintenance: Hallway cleaning, elevator maintenance, video surveillance, and common area lighting

Operating cleaning and hygiene costs (~€840)

This is the most important item for high guest ratings. With 200 days of occupancy, expect around 40 to 50 guest turnovers per year.

• Professional cleaning: Each turnover requires detailed apartment tidying
• Linen washing and ironing: Always fragrant and clean towels and bedding are our standard
• Consumables: Hygiene products, coffee, tea, soaps, and toilet paper that welcome guests

Taxes and legal obligations (~€250)

Operating in legal flows on Zlatibor is extremely favorable for individuals:

• Flat-rate tax: The state has enabled apartment owners to pay a fixed, very affordable annual income tax amount from rental
• Tourist taxes: Flat-rate amount per bed that relieves you of concern about individual guest registrations through municipal taxes

Fund for minor repairs and amortization (~€350)

A smart owner always sets aside a small portion of income for apartment "refreshing".

Replacing a broken glass, servicing the air conditioner before the season, painting once every two years, or replacing worn interior details. This ensures that the apartment looks equally luxurious after 10 years as it did on day one.

Why are these costs not a "loss" but an "investment"?

An investor who tries to save on cleaning or internet quickly faces bad reviews. On Zlatibor, one bad review can drastically reduce the number of occupancy days.

By investing €2,400 annually, you are actually buying:

• Free time: If you hire a maintenance agency, you have no contact with cleaning and guests
• High rating: A satisfied guest returns and leaves a 10, which guarantees you 200+ days of occupancy
• Preserved value: A regularly maintained apartment is worth more on the market if you ever decide to sell it

In the end, when you deduct these €2,400 in costs from €8,400 in income, you are left with €6,000 net profit – without stress and unforeseen situations.

Net profit and payback speed

When the line is drawn, we come to the most important data for every owner. From the total inflow of €8,400, after all paid bills and maintenance, you are left with:

Net annual profit: €6,000 (or €500 monthly passive income).

What does this mean for your capital?

• 6% annual ROI: Compared to bank savings (where interest rates are often below 2-3%), this return is twice as high. Your money doesn't sit – it "works"
• Investment payback speed: At this pace, the apartment pays for itself completely in 16.5 years exclusively through rental. After that, every earning is pure profit, and you are left with property in full ownership
• Double gain: The most important thing many forget is capital gain. While you withdraw your €6,000 profit each year, the price of your square meter on Zlatibor is growing. If the market grows only 3% annually, you actually profit almost 9% annually (6% from rent + 3% from price growth)

Conclusion: Investing in a 45 m² apartment on Zlatibor is not just buying walls, but buying a "financial pension". It is property that pays for itself, protects you from inflation, and brings you tangible profit every month.

Your safe harbor in the mountains

Investing in an apartment in the Bloom Zlatibor complex is not a short-term race, but smart building of financial security. The numbers don't lie: while inflation diminishes the value of money in bank accounts, your property on Serbia's most visited mountain works for you 365 days a year.

When you combine the net annual profit of €6,000 with the fact that you own property whose price is constantly growing, you get a model that is both safe and profitable.

Are you ready for your savings to start earning?

Don't let options and tables overwhelm you. Our team is here to help you choose exactly the apartment that will most easily reach these 200 days of occupancy and become your "financial pension".

Schedule a free consultation or visit to our locations today. Call us at +381 65 3000 053 or contact us via email zlatiborbloom@gmail.com.

Your investment starts here.