Q4 2024: Serbia Office Overview

Belgrade’s office market ended 2024 with a steady hand and a clear sense of direction. Vacancy in the CBD dropped below 4%, hitting 3.6%, a strong sign of sustained demand for quality office space. Prime rents continued their upward trend, rising to €18/sqm/month in the city center and even higher in wider zones. While no new completions were recorded in Q4, more than 85,000 sqm is expected to come online in 2025. With 71% of total stock now classified as A-Class and 77% of those buildings holding green or wellness certifications, the market is clearly aligning with global tenant expectations. The IT and technology sectors dominated leasing activity, reflecting a deeper shift in occupier demand. Add to that a growing base of certified, efficient, and centrally located assets, and Belgrade is clearly shaping up as a resilient, forward-looking office hub in Southeast Europe.