Demand is higher than supply – prices of OFFICE PREMISES rise in Belgrade
Despite the pandemic and the fact that a large number of employees still work from home, the demand for office premises in Belgrade is not just stagnating, but it is actually higher than the current supply, especially in larger cities, according to real estate experts.
The representatives of the City Expert agency explain that the real estate market, and thus the market of business premises, is expanding, primarily on the territory of Belgrade and Novi Sad, but also in Nis.
Aleksandar Andjelic, agent of the City Expert real estate agency, says for the BIZLife portal that as far as Belgrade is concerned, Novi Beograd has been the most popular location for several years, but that the „return“ to the city centre is also noticeable, primarily due to new business facilities and expansion of existing capacities.
„There are no rules regarding square meters, but certainly, when it comes to business premises, the square meters exceed 200 m2 up and reach a few thousand square meters. Prices have not dropped, instead they are slightly rising due to increasing demand and new A-class office buildings,“ says Andjelic.
The interest in the purchases of business premises, as well as in renting, stagnated at only one moment of the pandemic, and then very quickly returned to the level before the pandemic, adds the interlocutor of BIZLife.
Nebojsa Nesovanovic, director of consulting and valuation in the region of Southeast Europe at the CBRE company, says that most international companies decide to lease real estate much more often.
„This is the case with many production companies, which rent halls in which they operate long-term, not only with offices or sales premises. This approach allows companies to devote capital and all their attention to their core business, and it also allows them much more flexibility in the event of the need to increase or decrease capacity,“ explains Nesovanovic.
The business operation of most of these companies is not significantly affected by the coronavirus pandemic, so the demand for almost all types of business premises and the total area of leased space are higher now than before the pandemic, says Nesovanovic.
When it comes to investors, the biggest ones on the market so far have been South African, European and Israeli funds and they are buying leased properties, continuing to manage them.