REAL ESTATE IN SERBIA
The real estate sector in Serbia has been very dynamic in the past several years demonstrating strong development activity in all market segments. In the office segment, Belgrade modern office stock exceeded 1 million square metres of GLA in 2020, while the retail market has got the biggest western type shopping centre in the region, Galerija with 93,000 sq m of GLA. The residential market is witnessing new developments all over Belgrade, with the price for sq m meter reaching historical high, it’s been very attractive to international and domestic developers.
Due to favourable geo-strategic position with a possibility of accessing the EU market, Serbia offers remarkable opportunities for industrial and logistics developments in the mid-to long-term. Although, Serbia's industrial and logistics market has experienced the development in the previous period, the market still lacks large-scale logistics parks that would be developed for the speculative market.
Located in the heart of the Central Business District, CBS International’s office helps our clients respond to these growing opportunities – both within the city and throughout Serbia.
Serbia is located in the South-eastern Europe, in the central part of Balkan Peninsula, at the intersection of Pan European Corridors X and VII (Danube River), on the way from Europe to Asia. Pan European Corridor X is the most important European highway and railroad corridor passing through the country, leading from Salzburg through Belgrade and Nis, and further branching off to Athens and Sofia. Another branch of the corridor links Belgrade with Budapest. In terms of infrastructure developments, the corridor 11 that connects Belgrade with Montenegrin coast is currently under construction.
Serbia covers an area of 88,361 km², and its market itself is among the largest in the region. The population of the country is 7.2 million with Belgrade as the capital, counting for 1.7 million inhabitants (Census 2011). Belgrade is the capital of Serbia and the epicentre of its culture, education, science and economy. Belgrade beside Berlin is the only capital in Europe through which 2 large rivers pass. The length of Belgrade riverbanks is 200km.
Main drivers of the economy are industrial production, agriculture/food production and exports. Serbia enjoys free trade agreements with numerous countries. This gives a good basis for setting up production in Serbia and exporting to these markets without customs duties. Due to the skilled work force, favourable tax system and geographic position, Serbia has become home to some of the biggest companies in the world. Serbia is very attractive for manufacturing companies out of which high percentage is from automotive industry, but also business process outsourcing services, such as call centres, customer support, IT services, design, etc. Serbia is recognised as destination with high level potential for IT professionals and number of IT companies continuously grows.
As of March 2012, when European Union granted Serbia formal EU candidate status, Serbia has made steady progress on key reforms geared towards integration into the EU.
What we offer
CBS International is the Exclusive Affiliate Partner of Cushman & Wakefield in Serbia, Croatia and Montenegro comprising a team of over 120 professionals and providing a full range of real estate services to investors, occupiers and owners across all sectors of the real estate market. Our Belgrade office, can help you respond to the growing opportunities being created in Serbia and surrounding countries.
Our specialist teams offer particular areas of expertise in the following sectors:
CBS International is the largest commercial real estate services firm in Serbia in terms of revenue for ten years, including 2019 (Source: The Serbian Business Registers Agency), with 44 licenced real estate agents, 9 valuers (5 RICS, 1 CFA) and more than 280,000 sq m transacted in the last 3 years.
Our purpose begins by truly understanding your business, adapting to your needs and acting with a strong integrated services strategy to bring maximum value to your business. Our local, reliable and expert team in the Serbian market sets itself apart from the rest by offering solutions, rather than services.
Our sectors and services include:
- Office Agency
- Retail Agency
- Industrial & Land Agency
- Residential Sales and Leasing
- Valuation and Development Advisory
- Market Research
- Capital Markets
- Project Management
- Facilities and Property Management
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