FM Serbia.com

In the first half of 2009, Belgrade total office space (Class A/B) increased by around 32,500 m2 (5.14%). At mid 2009, the total Class A and B office space in Belgrade reached approximately 626,000 m2. In the first half of 2009, the office space supply has exceeded the demand, causing the rising vacancy rate and decreasing net rents.

The first half of 2009 was characterised by the opening of the largest shopping mall in Serbia-Usce Mall, comprising 43,500 m2 GLA, whichh introducted a dozen of international retail brands to the Serbian market. Another important retail project that was opened is Beogradjanka department store, offering a comprehensive tenant mix on 12,000 m2 GLA, located in the primary shopping zone of Belgrade.

Residential market of Serbia remained dormant in the first half of 2009 in terms of new construction and sales transactions. In order to revive residential construction, the government brought the Low on urban planning and development which will significantly reduce the time needed for obtaining a construction permit.