You are visiting a page on our global site but we noticed that you are in United States.
Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting to read:%0A%0A {0} %0A%0A {1}

Serbia MarketBeat

Tamara Kostadinovic • 7/25/2022
Cushman & Wakefield MarketBeat reports analyse quarterly Serbia commercial property activity across office sector including supply, demand and pricing trends across the occupational markets.
The Serbian economy remains in good shape recovering from the pandemic, with Q2 GDP growth of 3.9%. Headwinds remain with rising inflation and the National Bank raising interest rates which is likely to lead to a slowing in growth.

Office Supply & Demand 

Office occupier demand remains strong with over 170,000 sqm leased this year, more than the level seen in 2021 as a whole, supported by larger lettings. The vacancy rate has fallen to 3.29% with rents under upward pressure reflecting a combination of stronger demand, rising inflation pushing construction and fit-out costs higher. 

Retail Supply & Demand

In the retail sector many retailers are truing to opening in new shopping centres which are attracting a higher level of footfall and had led to reduced demand for space in less attractive locations in Belgrade, although demand on prime high street remains stable, which is maintain stable rent levels, although I some locations cost pressures is leading to a modest reduction in effective rents.

Retail Pricing

The Croatian economy entered 2022 strongly, with real GDP growth in the first quarter of 7.0% compared to the corresponding period of the previous year. According to the European Commission predictions from May 2022, Croatia's GDP is expected to expand by a real 3.4% this year, hence lowering projection for a 4.8% growth made in February, due to the exposure of the Croatian economy to the ongoing Russia-Ukraine conflict.


Industrial Property, Belgrade 

The rents of modern logistics space in Belgrade and industrial zones in its close proximity (Pecinci and Stara Pazova) amount to EUR 3.5-5/sqm/month. Land prices for industrial land in Belgrade surrounding area vary between EUR 20-50/sq m, while the land suitable for commercial/retail development in Belgrade vicinity range between EUR 50-100/sq m, depending on the location, access, infrastructural amenities and development efficiency. The prime yield for modern logistics facilities in Belgrade industrial zones range between 8.00-9.00%, while the yields for modern production complexes amount to 8.50-9.50%

Current MarketBeat

Europa office building, Brussels
Belgrade Office data

Office Marketbeat is a summary of the Serbia office property sector providing comment on recent trends as well as market data and analysis.


Uncertainty Stymies Office Space Demand as Regional Net Absorption
Zagreb Office data

Office Marketbeat is a summary of the Serbia office property sector providing comment on recent trends as well as market data and analysis.


Nice, France
Serbia Retail data

Retail Marketbeat is a summary of the Serbia retail property sector providing comment on recent trends as well as market data and analysis.


loading bay, Vienna, Austria
Serbia Industrial data

Industrial Marketbeat is a summary of the Serbia industrial property sector providing comment on recent trends as well as market data and analysis.


More Insights

Research • Topical Report

The Edge Magazine | Volume 8

Cushman & Wakefield’s global thought leadership covering the influential trends and ideas impacting the commercial real estate (CRE) industry and more.
Outlook 2023
Research • Office

Asia Pacific Office Outlook 2023

Supply, Demand, Vacancy and Rent: A look at the fundamentals underpinning Asia Pacific’s key office markets in 2023 and beyond.

Outlook 2023
Research • Office

APAC Office Outlook

Asia Pacific’s key office markets tell a story of resilience overall, with steady demand in some markets, surging supply in others – and some cities in India experiencing both surging demand and supply
Dr. Dominic Brown • 12/7/2022
With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Privacy & Cookies.
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All


Get in touch with one of our professionals.