RESEARCH

Insight

Belgrade Office Market Q3 2018

In Q3 2018, Belgrade city center area remained in the investors’ focus. The small-scale Class A office scheme was completed in Vracar municipality, as the local developer Trgomen nekretnine completed its office building Ziegel House, which pushed the volume of the modern office supply to the level of 854,000 sq m of GLA.

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Belgrade Retail Market Q3 2018

Since the existing modern shopping centers record almost no vacancy rate, the high street remains very important destination for retailers. In Q3 2018, American footwear brand Steve Madden opened its first store in Knez Mihailova Street, while the Italian fashion brand Liu Jo opened its first mono-brand store in Serbia at the same location.

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Belgrade Residential Market Q3 2018

Expansion of housing credit options and strong investment demand have resulted in the increase of the number of sold apartments in the previous period. As the number of sold apartments significantly exceeds the number of completed units for several years in a row, the increase in the sales prices has also been noted.

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Belgrade Industrial Market H1 2018

Modern logistics stock in Belgrade and its vicinity currently exceed the level of 910,000 sq m, while Serbian total stock stands at the level of app. 1,700,000 sq m. In Q2 2018, development activity remained high and it was led by construction of new distribution and logistics facilities, as well as extension of existing production halls.

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Belgrade Hotel Market H1 2018

The hotel accommodation in Belgrade has experienced major changes over the last decade, mostly being driven by tourists’ needs and by the trends present in the hotel sector worldwide. The number of overnights in Belgrade increased by 17%, exceeding 2.1 million in 2017, as compared to 2016-annual data.

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Novi Sad Property Market

Novi Sad property market is witnessing an increased development activity in all segments of the market. The total office stock, currently standing at the level of 85,000 sq m, should be enlarged by completion of the first modern Class A office building in Novi Sad city center, while the retail market will witness the opening of the first western-type shopping center, in November 2018.

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