According to Serbian Economist, the total volume of investment in Belgrade’s office real estate in 2025 grew to EUR 131 million, compared to EUR 14 million a year earlier, amid steady demand for prime-class properties and moderate new space supply, Serbia Business reports.
The total volume of modern office space in Belgrade reached 1.46 million square meters at the end of 2025, with more than 65,000 square meters of new space added during the year (about +5% year-on-year). Annual take-up amounted to 180,000 sq m, which is 9% lower than in 2024.
Vacancy in the market at the end of 2025 is estimated at 5.67% (within the “healthy” range of 5-10%), while in the prime segment it fell to 2.5%, reflecting a shortage of quality space. In the transaction structure, 43% were contract renewals and 40% were new leases.
Rental rates remained stable: prime offices – EUR 16-18 per sq. m per month, with rates exceeding EUR 19 in top properties, and class B remaining in the range of EUR 12-14.
Industry consultants generally confirm the trend of stable supply and sustained demand for high-quality space. CBRE indicated that in 2025, Belgrade’s office stock increased by more than 72,000 sq m of speculative supply, while IO Partners recorded stable prime rates at EUR 18-19 and an increase in stock of 86,900 sq m over the year.
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