Market REcap Office Serbia Q2 2025
05. 08. 2025
In this Q2 2025 snapshot of the Belgrade office market, readers will find key insights into leasing activity, sector-driven demand, new supply trends, and rental dynamics. The overview highlights how stable demand, led by the IT and financial sectors, is shaping vacancy rates, rental growth, and occupier behavior in a market defined by selective expansion and strong interest in prime office space.
Belgrade Market Overview
The Belgrade office market remained stable in Q2 2025, with gross take-up reaching 32,542 sqm, reflecting a steady but selective demand. The IT sector continues to be the leading driver of activity, followed closely by the financial sector, highlighting ongoing demand for high-quality, modern workspace. Year-to-date new supply increased by 68,600 sqm, with two new buildings added to the stock. Despite new deliveries, prime rents grew, particularly in the CBD and City Center, supported by limited availability of premium space. Most transactions were renewals, signaling a cautious yet stable approach by occupiers in today’s economic climate. The vacancy rate decreased by 160 bps YoY, further indicating resilience in demand, especially for A-Class properties.
Market REcap Office Q2 2025
Head of Research and Marketing
Nevena Martinovic