Placed at the forefront of the industry and playing an active role in its evolution, SILLAGE recognises the importance of information and deep insights in today’s local environment and delivers relevant unique, customisable and cutting edge solutions.
We offer an end-to-end service for real estate investors and funds – project formation, process management and architectural and technical services, backed by market-leading financial and legal expertise and an extensive suite of marketing, communication and sales services designed to meet unique client requirements.
We are currently advising clients on more than a million square meters of property developments worth more than a billion euros in investments in the following development segments:
COMMERCIAL AND INDUSTRIAL PARKS
Real Estate sector accounts for 7% of GDP, but make less than 1% of total employment. As of late 2016, Serbian market has witnessed continual recovery in terms of expanding construction activity and real-estate transactions. Achieved macroeconomic, financial and political stability, improved country’s credit rating and recoved labour market coupled with record-low interest rates provided positive impetus for the revival of private investments, as well as strong FDI inflow in the country.
PRIME YIELD 8%
Office projects in Belgrade show good statistics in YoY analysis, and stand over several years at prime yield at 8%. Demand is still bigger than supply.
RETAIL IN BELGRADE
Besides new requests there are interests for reloaction and expansion. New Belgrade is the most wanted location with periodical interest for offices in downtown.
GDP PER CAPITA
OFFICE PROJECTS IN BELGRADE
Belgrade has become regional office centre, since many investors from all around the world are alocating part of their business to Serbia and Belgrade.
Fresh data published by the State Geodetic Authority suggests that the residential Real Estate market has not been as severely affected by the COVID-19 outbreak as initially expected. In 2020, traded volumes were up 3.1% yoy, despite being significantly impacted by strict lockdown in 2Q, when sales dropped 25.3% yoy. Turnover rose 2.2%yoy in 2020 (-22.5 in 2Q).
Positive investment outlook in the RE sector is suggested by the fact that the sale of building lots skyrocketed in 2020 (+30%yoy,2Q:-6.7%). Their share in overall reale state traded volumes reached 18%. The share of credit purchases was around 15%, while c.85% of real estate sales were cash-financed, largely in line with previous data. Credit-financed flats accounted for 1/3 of total sales in big cities.
Looking at 2021, buyers sentiment is expected to be cautious, especially when it comes to loan-financed transactions. On the other side, buying an apartment is still deemed as the best investment option for those who have extra cash, especially in the current conditions.
940,000 sqm Distribution warehouse stock
€4.25 psqm Prime rent
-1.4% Y-0-Y industrial production index November 2020
938,000 sqm Total Stock
7% Vacancy Rate
€15.5-€16.5 psqm Rents
€1,980 psqm Average price for new build apartments
-22% Y-o-Y Issued construction permits for new dwellings October 2020
421,000 sqm Shopping centre stock
€26-€28 psqm Average rent in prime shopping centers
250 sqm/’000 inhabitants Shopping centre density