The office real estate market in Belgrade is expected to show steady growth in 2024, driven by a robust economy and increasing demand for quality office space. Demand for modern office space continues to exceed supply, which stimulates the active construction of new business centers and renovation of existing buildings.
Rental prices in different parts of Belgrade:
Trends and forecast until the end of 2025:
Demand for office space in Belgrade remains high, especially from foreign companies and banks. Active construction of new business centers is observed in the central districts and New Belgrade, but the supply still does not fully meet the market needs.
Rental rates are expected to remain stable until the end of 2025, with possible adjustments in the most sought-after locations. Infrastructure development and commissioning of new office space will continue, which may somewhat reduce the supply shortage in the market.
Source: https://t.me/relocationrs/725
It is planned to open 16 business centers with a total area of 376,000 square meters in Kyiv in 2021-2022, Managing Partner of CBRE Ukraine Radomyr Tsurkan told Interfax-Ukraine during the forum devoted to current trends in real estate on Wednesday.
“The collapse of the offices that scared everyone at the start of the pandemic did not take place. According to a study conducted by CBRE in 2020, 73% of those surveyed want to return to the office and have a hybrid work format,” Tsurkan said.
As a result, active construction of new projects and entry of new office space into the market is seen. In particular, in the first quarter of 2021, the new supply amounted to 22,000 square meters.
“Now the vacancy rate is about 14%, this is a fairly healthy indicator. The rates have dropped slightly – by 10% compared to 2020 and total $25 per square meters a month,” Tsurkan said.
According to CBRE Ukraine, in 2021, 12 business centers with a total area of 207,000 square meters are being prepared for going live.
In 2022, it is possible to replenish the office real estate market with four facilities with a total area of 169,000 square meters.
Among the trends in the office real estate market, the expert named changes in formats. “Now everyone understands: a large business center must have a coworking space. Another innovation that we will see soon is a mandatory area for conversations, meetings with visitors on the ground floor and/or in the office itself. This is a safety requirement, including epidemiological,” Tsurkan said.
