International real estate agency CBRE Serbia noted that SEE investment activity since the beginning of the year has grown by 14% compared to the same period of 2022, despite the unpredictability which has been present in the region.
“Investment volumes stand at around EUR 670 mln, of which the oice sector has contributed the most and remained the most active market segment, accounting for 77 percent of total investment volumes, followed by the hotel and the retail sectors,” a report released by CBRE states.
“So far, Serbia remains the leader in the SEE region when it comes to investment volumes year-to-date, having recorded almost EUR 400 million or 60 percent of total volumes,” the report adds.
Serbia is followed by Croatia, whose transacted volumes account for20 percent of total volumes.
The oice sector has proven to be the most active, with transaction volumes over EUR 90 mln, followed by the retail and the hotel segments, which recorded volumes of EUR 40 mln and EUR 28 mln, respectively, according to CBRE. No significant industrial transactions have been recorded.
Investment volumes stood at over EUR 170 mln, with the largest portion of volumes recorded in Croatia, within retail and oice sector.
That said, the third quarter of the year has slowed down in terms of investment activity in comparison with the previous quarter. The forthcoming period is expected to remain filled with unpredictability in terms of pricing, financing and construction costs, depending on how well the region manages to deal with the economic crisis, the elevated inflation levels, as well as the economic fallout resulting from the even more complex geopolitical situation.
However, despite the general uncertainty, the remainder of the year will be marked by moderate volumes, especially in the hotel sector, the agency said.
Photo of Belgrade by Vlada Marinković, CC BY-SA 3.0 <https://creativecommons.org/licenses/by-sa/3.0>, via Wikimedia Commons.
