Serbia’s real estate market experienced record demand for office, logistics and residential space this year and this growth trend will continue in 2023. Banks will be somewhat stricter in terms of granting loans and financing conditions will tighten but the overall outlook is still positive, according to the speakers of the investment and financing panel of Balkans Property Forum 2022, organised last week in Belgrade.

GTC Group, present in Serbia for the past 20 years, has opened its newest office building in Belgrade. GTC X brings to the market 17,700 sqm of first-class office space in Block 41, located along Milutin Milanković Boulevard in New Belgrade. 

Atalian, the facility management services provider, has expanded its collaboration with tires maker Michelin, adding Serbia in the portfolio, after France and Romania. The partnership between the 2 companies started 12 years ago in France and has been developed over the last decade in Central and Eastern Europe. 

Prices in Belgrade’s residential market are still showing double-digit increases compared to the previous year. Local real estate consultancy Cordon published a report summarising the key trends driving Belgrade’s residential market in Q2 2022.

British company Hyperoptic has leased 5,000 square meters in the BIGZ business centre, in a transaction brokered by Coreside Savills.

Pedja Petronijevic and GTC terminated their agreement with mutual consent as a result Pedja will be stepping down from his current position as a member of GTC’s Management Board effective as of 15 July 2022. 

Colliers has entered into an affiliate agreement in the EMEA region with the leading real estate services company in Serbia, West Properties.

Serbia’s construction market was booming when the economic and geopolitical situation changed, so the complicating circumstances in the world are stifling the potential growth and slowing down the ongoing recovery. Inflationary pressures have exploded with the start of the war in Ukraine and the effects of the current crisis are still unforeseeable, writes Dejan Krajinović from Beobuild Core d.o.o. for EECFA Serbia.

IREP and West Properties have joined forces in a partnership to provide full real estate services for Serbia and the wider Balkans region. In a strategic move that will be announced at MIPIM in Cannes, France, the two companies will combine key services, knowledge and experience to offer a comprehensive and dynamic range of services currently not available in this region.

Indotek Group has completed the acquisition of 11 office buildings in 5 business parks in Belgrade from GTC. With the closing of one the recent years’ largest transactions in CEE, Indotek Group has further strengthened its position in the regional real estate market and is now present in 12 countries.