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Belgrade Has Lowest Real Estate Prices in Region
Belgrade | 09 February 2010 | Bojana Barlovac
According to research carried out by the consulting company Colliers, the average monthly cost for renting an A-class office or apartment in Belgrade is 13.9 euros per square metre.
Bosko Tomasevic, an office space manager at Colliers, expects that the current price level will stay the same for the next six months. "Now is the time for negotiating and signing long-term contracts under favorable conditions," daily Blic quoted him as saying.
The prices for renting offices in larger Serbian towns have fallen to levels not seen since 2000. At such prices, Belgrade is the least expensive large city in Southeastern Europe in terms of rent prices.
In the second half of 2009, the availability of A-class locations increased by 17.5 per cent while B-class locations on the outskirts of the city increased in availability by 20 per cent.
Tomislav Sekulic, president of the governing board of the Association of Real Estate Agents, told daily Blic that the decline in prices has reached its bottom.
"In the very centre, in the so-called 'smart buildings', the rent is reduced by half... Even the smaller stores in Knez Mihailova [downtown street] can be rented for 50 euros per square metre, which is more than two times less than rent levels from a year ago," Sekulic said.
2010-02-10 00:57:26