Belgrade's total supply of speculative office space has increased by 40% since the end of 2005, according to the new Belgrade Office Market Overview issued by Colliers International Serbia. The total inventory of quality speculative office space in the Serbian capital is now 270,000 m2, of which some 145,000 m[sup]2[/sup] is Class A office space.

Belgrade's total supply of speculative office space has increased by 40% since the end of 2005, according to the new Belgrade Office Market Overview issued by Colliers International Serbia. The total inventory of quality speculative office space in the Serbian capital is now 270,000 m2, of which some 145,000 m2 is Class A office space.

Most office space - some 200,000 m2 - is available in Belgrade's Central Business District. This accounted in 2006 for almost 90% of Class A office development and 80% of Class B development. New offices in the downtown city centre remain rare.

Available Class A and Class B office space for rent at the end of 2006 was 20,000 m2, according to Colliers International Serbia. The vacancy rate for Class A office space was 9% across the city, and only 7% in the Central Business District. Office yields overall stood at about 9%, relatively high by comparison with other Central and Eastern European countries.

Jovica Jakovac, General Manager of Colliers International Serbia, said: ‘With total office space increasing and the economic recovery continuing, this is an exciting and dynamic market and one that we are the clear market leaders in. Our clients know that they get the most professional services from Colliers International Serbia.’