Fall 2009 - office space rents in Belgrade among most attractive in the region

September 9th, 2009, Belgrade – Office space in Belgrade is becoming more and more attractive to tenants. Based on the latest research conducted by Colliers International, Belgrade has the most favorable rents in the region.

In Belgrade, the office space rents dropped by about 15% for a space of A class, and by 8% for a B-class space, against the year 2008. The monthly rent in the central business zone of Belgrade amounts to 15.5 EUR per square meter for an A-class office space and 13.5 EUR per square meter for an office space of B class. The rents in broader center are similar for A-class office space, while the monthly rent for an office space of B-class in that part of the city amounts to about 11 EUR per square meter.

According to the research conducted by Colliers International, about 200,000 square meters of A-class office space and about 100,000 square meters of B-class office space should be built in Belgrade by the end of year 2010. During the next few years, Belgrade will obtain large number of high-quality buildings. Among the most significant projects are - Bluehouse center and Airport City Belgrade in New Belgrade, and Tri Lista Duvana in the very heart of Belgrade, across the road from the National Parliament.

When compared to other large cities in southeast Europe, office space in the capital city has got cheaper, and the rents in Belgrade are now lower than in Athens, Sofia, Tirane, and Bucharest. The only exception is Budapest, and the reason for that is voluminous construction in that city in the last few years. Only in 2008, the supply in this city was twice as big as demand, while the gap between supply and demand grew even bigger in 2009.

Note : the text is based on the results of the research conducted by Colliers International, real estate consultant

About Colliers International

Colliers Macaulay Nicolls Inc. (CMN), which operates under the name of Colliers International, is the world's leading real estate consulting company that provides all types of services to its users, real estate owners and investors all around the world. Colliers has 294 branch offices in 61 countries. The services include mediation in sale and lease, real estate management, hotel investment sale and consulting, corporate services, appraisal of value, market research, etc. Colliers International is a global affiliation of independently-owned firms. Locally, the employees of Colliers provide the services of mediation, investment advisory and sale, appraisal of value, market research, feasibility studies, project marketing, etc. Learn more on www.colliers.com/serbia

For additional information, please contact:

Ivana Milojević, Marketing Adviser

Colliers International Serbia

Tel: +381 11 313 99 55

Mob: + 381 63 8459 379

Email: ivana.milojevic@colliers.com

Aleksandra Zajkesković, Executive Associate

Colliers International Serbia

Tel: +381 11 313 99 55

Mob : +381 53 1077 843

Email : aleksandra.zajkeskovic@colliers.com