Q1 2026: Belgrade Office Market Overview
The market continues to demonstrate resilience, as seen in declining vacancy rates across key submarkets and strengthening prime rents. The IT and telecommunications sector remains a major driver of demand, while a strong development pipeline is expected to support future activity.
Belgrade’s office market remains stable, with total stock at around 1.14 million sqm and no new completions recorded this quarter. The development pipeline stands at approximately 140,000 sqm, reflecting ongoing investor confidence.
In Q1, the average size of deals was 725 sqm. Prime rents have increased to €18.5/sqm/month, while rents for projects under construction are already exceeding €19/sqm/month, indicating continued upward pressure on pricing. Vacancy levels vary across submarkets, with the lowest rates recorded in central areas.
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Head of Marketing and Market Research
