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Reports

REPORTS • SERBIA REAL ESTATE MARKET

Market reports are a summary of the Serbian real estate market, with separate reports for each property sector, providing comment on recent trends as well as market data and analysis. In addition, CBS International’s market research team provides specialised tailor-made market reports in line with exact needs of our clients' particular business, covering all real estate segments. For more information, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

CURRENT MARKET REPORTS

BELGRADE INDUSTRIAL MARKET H2 2025

By the end of 2025, Serbia’s total industrial stock amounted to 7.44 million sq m of GBA, of which 42% is warehouse space and 58% production facilities. Approximately 2.4 million sq m of the total supply can be considered as a Class A stock.

For more information regarding the Industrial market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

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BELGRADE RESIDENTIAL MARKET H2 2025

Despite the slower start of the year, the second half of 2025 brought much stronger demand, leading to an increase in the annual demand by 5% compared to 2024-figures. A total of 18,000 units were sold in Belgrade in 2025.

For more information regarding the Residential market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

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BELGRADE OFFICE MARKET Q4 2025

In 2025, the total new supply exceeded 65,000 sq m. However, the last quarter of 2025 saw no new completions, and the total modern office supply in Belgrade remained at 1,457,000 sq m of GLA. Location-wise, New Belgrade continues to dominate the office market, reaching the 1 million sq m of GLA.

For more information regarding the Office market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

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BELGRADE OFFICE MARKET Q3 2025

Belgrade’s office market continued its expansion in Q3 2025, adding 26,100 sq m and bringing total new deliveries for the year to over 65,000 sq m. Location-wise, New Belgrade continues to dominate the office market, reaching closely the threshold of 1 million sq m.

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BELGRADE RESIDENTIAL MARKET H1 2025

The residential real estate market is currently exhibiting stability, with positive trends observed on both the demand and supply sides. In H1 2025, a total of 8,619 residential units were sold, remaining at a similar level compared to the same period last year.

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SERBIA INDUSTRIAL MARKET H1 2025

During the first half of 2025, Serbia’s industrial stock expanded by approximately 100,000 sq m of newly delivered logistics and production spaces. However, development activity recorded a significant slowdown compared to the same period last year.

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BELGRADE OFFICE MARKET Q2 2025

The Q2 2025 marked a new milestone in the office market with the completion of the first tower within the newly launched phase Business Avenue in Airport City Belgrade complex. This new delivery spans 25,600 sq m, bringing the total size of the Airport City Belgrade business complex to over 155,000 sq m.

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BELGRADE RETAIL MARKET H1 2025

The first half of 2025 recorded an expansion of the Serbian retail market for an additional 29,000 sq m. This growth was primarily driven by the completion of two retail parks located in Niš and Kraljevo, offering 15,500 sq m and 11,500 sq m of GLA, respectively.

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OFFICE OCCUPIER SURVEY Q1 2025

For the fifth year, CBS International has been surveying office occupiers to explore the latest trends in office space utilisation, coworking solutions and future workplace preferences in Belgrade.

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BELGRADE OFFICE MARKET Q1 2025

The first quarter of 2025 recorded 38,500 sq m of leased office space across 57 transactions in Belgrade, which indicates a slight slowdown in overall take-up compared to the starting quarters in the previous years.

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Reports • Belgrade Office Market Q4 2023

Belgrade Office Market Q4 2023
In 2023, nearly 160,000 sq m of office space was built in Belgrade, representing the best year ever for new deliveries. By the end of 2023, Belgrade’s modern office stock grew to the level of 1,318,784 sq m of GLA with Class A office buildings making 59% and Class B projects comprising the remaining 41%.
For more information regarding the Office market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Retail Market Q4 2023

Belgrade Retail Market Q4 2023
The retail park segment has experienced the most significant expansion in recent years in terms of the number of formats i.e. 8 schemes and 20% of the total Belgrade retail stock. After substantial development up to early 2022, the retail market in Belgrade is currently undergoing rather limited development activity, marked by the construction of only two retail parks.
For more information regarding the Retail market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Industrial Market H2 2023

Belgrade Industrial Market H2 2023
By the close of the year 2023, the cumulative modern warehouse and production supply in Serbia has surpassed 6 million square meters. The primary industrial hub is centred around Belgrade, along with its neighbouring municipalities Stara Pazova and Pecinci, constituting approximately 50% of the total contemporary industrial supply in Serbia.
For more information regarding the Industrial market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Residential Market Q4 2023

Belgrade Residential Market Q4 2023
In the opening quarters of 2023, construction activity slowed down, mainly due to the prolongation of the process of issuing the building permits. However, in H2 situation on the market improved and the Belgrade residential market keeps marking positive trends on the supply side. Several large projects were initiated during the year within central Belgrade’s municipalities, while 17 ongoing projects with 400+ units are currently in the construction phase in Belgrade.
For more information regarding the Residential market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Office Market Q3 2023

Belgrade Office Market Q3 2023
The new supply in Belgrade office market noted impressive growth in 2023, considering that year to date deliveries already reached 133,000 sq m of GLA, which is the largest annual delivery ever. Moreover, construction and refurbishment of more than 50,000 sq m of office space will be completed in the remaining quarter ofthe year.
For more information regarding Office market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Retail Market Q3 2023

Belgrade Retail Market Q3 2023
The retail market is driven by retail parks and their expansion. Looking at a whole year, Serbia and Belgrade retail park supply grew for app. 35,000 sq m, while the shopping center segment did not see any new completions over the past two years. When it comes to future supply, the development pipeline countrywide consists of several active retail park projects, indicating a solid increase of the stock in the forthcoming period. Approximately 85,000 sq m of retail parks are currently under construction, out of which 49% of pipeline projects are located in Belgrade.
For more information regarding Retail market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Industrial Market H1 2023

Belgrade Industrial Market H1 2023
E-commerce in Serbia has been growing constantly in recent years and its share in total trade is around 20%. Consequently, it led to an increase in demand for logistics and distribution facilities and the number of projects currently under construction confirms that logistics market is the main driver of the development of industrial market in the past 2 years. Namely, almost 200,000 sq m of new warehouse and logistics space will be added to the market by the end of this year in Belgrade wider industrial area, out of which over 90% is speculative stock.
For more information regarding Industrial market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Residential Market Q3 2023

Belgrade Residential Market Q3 2023
In first three quarters of 2023, Belgrade residential market noted a slowdown, particularly in terms of demand, since the number of sold apartments decreased as compared to the same period of the previous year. However, significant downturn is not expected since the residential market showed its resilience to the challenges in past few years.
For more information regarding Residential market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Office Market Q2 2023

Belgrade Office Market Q2 2023
Three years since the start of the pandemic, a significant number of companies have returned to the offices. 48 the share of the companies that do not use the office space in Belgrade dropped to 5%, while 95% of companies regularly go to the office (either fully 48% or in the hybrid mode of working 47%).
For more information regarding Office market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Retail Market Q2 2023

Belgrade Retail Market Q2 2023
In the first two quarters of 2023, 3 retail parks and one small scheme were completed in Serbia, enlarging the stock for new 26,000 sq m of retail space whereas more than 90% of this volume was constructed out of Belgrade. Moreover, 62,000 sq m of retail park stock is currently under development, which confirms their dominance. On the other side, there were no changes in shopping centre stock and with no new openings planned in 2023.
For more information regarding Retail market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Industrial Market Q2 2023

Belgrade Industrial Market Q2 2023
E-commerce in Serbia has been growing constantly in recent years and its share in total trade is around 20%. Consequently, it led to an increase in demand for logistics and distribution facilities and the number of projects currently under construction confirms that logistics market is the main driver of the development of industrial market in the past 2 years. Namely, almost 200,000 sq m of new warehouse and logistics space will be added to the market by the end of this year in Belgrade wider industrial area, out of which over 90% is speculative stock.
For more information regarding Residential market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Residential Market Q2 2023

Belgrade Residential Market Q2 2023
As a result of rapid growth in the number of Russian and Ukrainian during 2022, as well as other foreigners working in Serbia, rental levels grew significantly, more specific for the most attractive units in the newly built residential projects which offer various additional amenities. For that reason, these projects recorded the growth in the rental levels of even 30-50%, while renovated or new apartments in good projects noted the growth of 15-20%. This trend will encourage investors to invest more in rent-to-built projects while the first large project will be launched within mixed-use upscale project Skyline, named AFI Home.
For more information regarding Residential market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Office Market Q1 2023

Belgrade Office Market Q1 2023
In the first quarter of 2023, a slight increase in asking rents for Class A office buildings has been noted on the Belgrade’s office market. The average asking rental values for Class A office buildings now stands between EUR 15.5-17.5/sq m/month. However, in certain cases, when it comes to the prime office space at the most attractive locations, asking prices can even exceed this range. The asking rents for Class B office premises amount to around EUR 11.5-14/sq m/month.
For more information regarding Office market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Office Market Q4 2022

Belgrade Office Market Q4 2022
In Q4 2022, office property market kept growing at a rapid pace. Additional three office buildings were added to the Belgrade modern office stock, all situated in CBD. The final quarter of the year was marked by completion of GTC’s new office scheme GTC X, being 17,000 sq m of GLA large, while Floor Art company developed Bridge Plaza office complex, totalling 8,000 sq m of GLA. Moreover, Alco Business Centre contributed with 13,000 sq m of GLA.
For more information regarding Office market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Retail Market Q4 2022

Belgrade Retail Market Q4 2022
With no new completions in late 2022, the total retail stock in Belgrade remains at the level of 580,000 sq m of GLA. Summarizing the whole year, Belgrade retail supply grew by app. 25,000 sq m, due to completion of three retail parks, all located in suburban municipalities. Throughout the previous year, the most active of all retail sectors was the retail park segment, a trend that will also continue in the forthcoming period.
For more information regarding Retail market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Industrial Market Q4 2022

Belgrade Industrial Market Q4 2022
The industrial market in Belgrade and the municipalities in its close proximity Stara Pazova and Pecinci continues to perform strongly in the second half of 2022. Namely, 300,000 sq m of new industrial space was delivered in this period. As a result, total Belgrade modern industrial stock (incl. Stara Pazova and Pecinci municipalities) has reached 2,700,000 sq m at the end of 2022.
For more information regarding Industrial market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Residential Market Q4 2022

Belgrade Residential Market Q4 2022
Summarizing the year of 2022, there were no signs of any slowdown in terms of the supply or demand in Belgrade residential market, despite all the difficulties that investors were facing throughout 2022, such as an increase in construction materials and labour costs, inflation and overall uncertainty due to Ukraine crisis. New large-scale projects are announced for development, while certain portion of them witnessed the commencement of new phases.
For more information regarding Residential market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Office Market Q3 2022

Belgrade Office Market Q3 2022
In the third quarter of 2022, two office schemes with a total area of nearly 12,000 sq m were completed, both class B+ office buildings. Kennedy Offices is a part of mixed-use project, while the renowned local investor IMEL completed the first phase of its office complex Green Escape in New Belgrade’s Block 51. In addition, Belgrade hopes to deliver over 200,000 sq m of new office space by the end of 2023.
For more information regarding Office market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Retail Market Q3 2022

Belgrade Retail Market Q3 2022
In Q3 2022, Belgrade saw the opening of the second phase of TC Mladenovac and a small-scale retail park in Obrenovac, which boosted the Belgrade stock by 7,300 sq m of GLA, while the expansion of retail park NEST Obrenovac for additional 2,000 sq m entered the final phase and is set for completion in Q4 2022. At the end of September 2022, Belgrade retail supply reached the level of 580,000 sq m, out of which seven formats are considered to be modern western-style shopping centres, totalling app. 307,000 sq m GLA (53%).
For more information regarding Retail market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Office Market Q2 2022

Belgrade Office Market Q2 2022
The second quarter of 2022 witnessed two new deliveries, totalling 12,500 sq m of Class A office space. Both buildings enlarged office stock in the city centre. As of the beginning of 2022, Belgrade contemporary office stock was increased by new 35,300 sq m, bringing the total supply in the capital at the level of 1,111,000 sq m of GLA. Furthermore, the total of 120,000 sq m office space currently under construction is due to be completed over the remaining quarters of this year.
For more information regarding Office market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Retail Market Q2 2022

Belgrade Retail Market Q2 2022
The second quarter of 2022 saw the opening of the first phase of AVA Shopping Park, retail park developed by IKEA, at the location of Swedish big box scheme opened in 2017. This opening has increased Belgrade retail stock for 18,000 sq m of GLA, while the second phase is expected to deliver additional 10,000 sq m of GLA in Q2 2023. Currently, Belgrade modern retail supply amounts to 573,000 sq m of GLA, i.e., 345 sq m per 1,000 inhabitants.
For more information regarding Retail market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Residential Market H1 2022

Belgrade Residential Market H1 2022
In terms of the supply on Belgrade residential market, there is no sign of a slowdown, in spite of all the difficulties that investors are facing, such as an increase in construction materials cost and labour costs, inflation and overall uncertainty due to Ukraine crisis. New large-scale projects are announced for development, while certain portion of these projects will be part of the high-end market.
For more information regarding Residential market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Industrial Market H1 2022

Belgrade Industrial Market H1 2022
In addition to already present Czech CTP Group, one of the largest industrial developers in Central Europe, Serbian market witnessed the recent entrance of VGP Group, the developer of logistics and industrial parks across Europe. Namely, the Belgium-based investor is aiming to develop a large industrial park for speculative purposes in Belgrade’s industrial zone Dobanovci. In late 2021, VGP purchased 114 ha of construction land for development of warehouse complex totalling 368,000 sq m.
For more information regarding Industrial market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Office Market Q1 2022

Belgrade Office Market Q1 2022
After two years of living under aggravating circumstances due to COVID-19 pandemic, Belgrade office market experienced total recovery by the end of 2021 in terms of both, supply and demand, while great number of companies returned to offices and even expanding their square meters. In the opening three months of 2022, modern office stock reached 1,103,000 sq m of GLA, following the refurbishment of nearly 23,000 sq m of office space in the city centre.
For more information regarding Office market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Retail Market Q1 2022

Belgrade Retail Market Q1 2022
With no new completions in early 2022, the total retail stock in Belgrade remains at the level of 555,000 sq m of GLA. One new modern format will become available in Belgrade as of mid-2022, when IKEA retail park of 30,000 sq m GLA is planned for completion.
For more information regarding Retail market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Office Market Q4 2021

Belgrade Office Market Q4 2021
Year-on-year increase in the volume of modern office supply in Belgrade amounted to 62,000 sq m of GLA. Therefore, at the end of 2021, the modern office stock in the capital went up to 1,080,00 sq m of GLA, whereas the share of speculative (leasable) stock reached 76%.
For more information regarding Office market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Retail Market Q4 2021

Belgrade Retail Market Q4 2021
Although, e-commerce has boomed during the pandemic, since the consumers shifted from store visits to ordering from home. Still, traditional in-store shopping is still very present in Belgrade and Serbia and stores continue to recover to pre-pandemic levels, especially as the Covid-19 vaccine becomes available.
For more information regarding Retail market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Residential Market Q4 2021

Belgrade Residential Market Q4 2021
Large-scale residential projects with more than 150 units play a large role in meeting housing needs in Belgrade and remain key development concept among investors, proven by the numerous developments around the city. At the moment, more than 20 complexes of that size or larger are in the various construction phases. In addition to already established trends on the market, 2021 also brought some new trends
For more information regarding Residential market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Industrial Market H2 2021

Belgrade Industrial Market H2 2021
In the second half of 2021, new deliveries amounted to 470,000 sq m, which pushed the total Serbian industrial and logistics stock to the level of 4,900,000 sq m.
For more information regarding Industrial market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Office Market Q2 2021

Belgrade Office Market Q2 2021
Strong development activity continued in Q2 2021, when two new Class A office building were completed, bringing the completions to the level of 46,500 sq m, which has led to the increase of the total modern stock to the level of app. 1,064,000 sq m of GLA.
For more information regarding Office market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Retail Market Q2 2021

Belgrade Retail Market Q2 2021
Despite the coronavirus pandemic, the interest for Serbian retail market still grows, as the number of investment transactions steadily rises. In June 2021, BIG Shopping centers has signed the final agreement on purchasing two retail formats, Plaza Kragujevac shopping center of 22,000 sq m and Krusevac retail park of nearly 9,000 sq m. The total value of acquisition is EUR 61 million.
For more information regarding Retail market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Industrial Market H1 2021

Belgrade Industrial Market H1 2021
The industrial market in Serbia continue to develop, which is reflected in much stronger development activity over the previous period, reflecting the investors’ expansion appetite for both manufacturing and logistics facilities in Serbia.
For more information regarding Industrial market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Residential Market Q2 2021

Belgrade Residential Market Q2 2021
As per the most recent official statistics published by Statistical Office of the Republic of Serbia, the number of constructed units in 2020 in Belgrade remained at the same level, as compared to 2019, amounting to 7,674 units. Additionally, in the first six months of 2021, the number of sold apartments amounted to 10,024 units, according to Republic Geodetic Authority, which represents an increase by 47% in comparison to the corresponding period of 2020, and is sign of the recovery of the residential market.
For more information regarding Residential market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Office Market Q4 2020

Belgrade Office Market Q4 2020
Strong development activity continued in Q4 2020, when four office buildings were completed, bringing the completions to the level of 47,700 sq m. Summarizing the entire 2020, development completions amounted to nearly 100,000 sq m, which makes the year 2020 the most active in the previous 10-year period.
For more information regarding Office market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Retail Market Q4 2020

Belgrade Retail Market Q4 2020
With no new completions in late 2020, the total retail stock in Belgrade remains at the level of 534,000 sq m of GLA. Summarizing the whole year, Belgrade total stock grew by 136,000 sq m, due to completion of MPC’s Beo Shopping centre and the largest shopping mall in Belgrade and in the Balkans, Galerija Shopping centre of 93,000 sq m of GLA.
For more information regarding Retail market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Residential Market Q4 2020

Belgrade Residential Market Q4 2020
In 2020, the volume of transactions slightly compressed. As per most recent official data, 16,270 residential units were sold in Belgrade, which represents decrease of 13% in comparison with the previous year, as direct consequence of coronavirus lockdown in Belgrade in March and April of 2020. Restrictive measures were gradually relaxed in May, which led to recovery of residential market, especially in terms of the demand.
For more information regarding Residential market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Industrial Market H2 2020

Belgrade Industrial Market H2 2020
The pandemic continued to accelerate trends already visible in some countries such as increased online sales, omni-channel retailing and the integration of technology into warehousing. Moreover, the pandemic is underlining the importance of supply chains and logistics, and the sector is prepared to rapidly respond to the post pandemic recovery. Also, similar to the other countries in the region, during coronavirus period, demand was mostly driven by the grocery retailers and pharmaceutical companies.
For more information regarding Industrial market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Office Market Q3 2020

Belgrade Office Market Q3 2020
During Q3 2020, three small-scale projects were completed, totaling 12,000 sq m. As of beginning of the year, the development completions exceeded 52,000 sq m. This has led to the increase of the total modern stock to the level of app. 970,000 sq m of GLA.
For more information regarding Office market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Retail Market Q3 2020

Belgrade Retail Market Q3 2020
As of mid-May, the Belgrade retail market began recovery, however the number of infected cases slowed down the activities in the second half of June. Since the end of July, the market notes positive trend again, still it certainly takes time to understand how this situation will influence the prices and rents. At the moment rental levels remained stable.
For more information regarding Retail market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Belgrade Residential Market Q3 2020

Belgrade Residential Market Q3 2020
Restrictive measures implemented in March were gradually relaxed in May, which led to the recovery of residential market, especially in terms of the demand. Namely, the number of sold apartments in Q3 2020 slightly exceeded the level reached in Q1 2020, which confirms the fact that the market is recovering from the situation. The new phases of the large-scale projects that have already been established in the market are starting construction, as well as some new developments which are in a preparation phase.
For more information regarding Residential market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Office Market

Belgrade Office Market Q1 2020
The year 2020 started off with great momentum continuing from 2016-onwards, with high occupancy demand, low vacancy levels, strong development activity and overall solid market fundamentals. By the end of Q1, the impact of the global slowdown on the back of COVID-19 pandemic became also visible in Belgrade and the market activity narrowed, causing the drop in the overall demand.
For more information regarding Office market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.

Reports • Retail Market

Belgrade Retail Market Q1 2020
When it comes to Belgrade retail market, it enters 2020 on solid basis, having in mind the strong development activity, high demand for Serbian retail market, while the investment market had a respectable start of the year, as well. As a result of lockdown measures caused by global COVID-19 pandemic, all shopping centers across Serbia were closed. The previous period was marked by a difficult and complex negotiations between tenants and landlords regarding rental payments.
For more information regarding Retail market, we kindly ask you to contact us at market.research@cw-cbs.rs and we shall respond to you shortly.